03:50 PM EDT, 03/26/2024 (MT Newswires) -- Energy stocks fell late Tuesday afternoon with the NYSE Energy Sector Index down 0.6% and the Energy Select Sector SPDR Fund (XLE) dropping 0.8%.

The Philadelphia Oil Service Sector Index declined 1.1%, and the Dow Jones US Utilities Index lost 0.8%.

West Texas Intermediate crude oil fell 0.5% to $81.54 a barrel, while the global benchmark Brent crude contract shed 0.8% to $86.10 a barrel. Henry Hub natural gas futures tumbled 5.2% to $1.531 per 1 million BTU.

In corporate news, Matador Resources ( MTDR ) said it plans to offer $800 million of senior unsecured notes due 2032 in a private placement. Proceeds will be used o repurchase about $699.2 million of outstanding senior notes and for general corporate purposes. Matador shares fell 4.7%.

Consol Energy ( CEIX ) shares tumbled 7.1% after the Francis Scott Key Bridge, a major commuter bridge in Baltimore, collapsed after being struck by a container ship. Consol's Baltimore Marine Terminal is used to load coal into large ocean-going ships in the area.

APA (APA) shares fell 4.9% as Goldman Sachs cuts its price target on the stock to $31 from $35 and kept its sell rating.

Exxon Mobil's ( XOM ) Australian commercial director warned of shrinking gas supply in the country and called for the government there to implement policies to facilitate new drilling programs and investment in the sector, according to media reports Tuesday. Exxon shares shed 0.6%.