03:48 PM EDT, 07/22/2024 (MT Newswires) -- Energy stocks fell late Monday afternoon with the NYSE Energy Sector Index shedding 0.2% and the Energy Select Sector SPDR Fund (XLE) decreasing 0.5%.

The Philadelphia Oil Service Sector index lost 0.3%, and the Dow Jones US Utilities index rose 0.7%.

West Texas Intermediate crude oil declined 0.4% to $79.78 a barrel, while global benchmark Brent shed 0.3% to $82.37 a barrel. Henry Hub natural gas futures jumped 5% to $2.234 per 1 million BTU.

In corporate news, Petrobras (PBR) was asked to reimburse chemical company Unigel for losses incurred after a tolling contract between the companies fell through, Reuters reported. Petrobras shares fell 1.3%.

Tellurian (TELL) shares surged 67% after the company agreed to be bought by Woodside Energy ( WDS ) for $1 a share, or $900 million in cash. Woodside shares eased 0.3%.

Valaris ( VAL ) shares rose 2.8% after the company won a multiyear $498 million contract for its drillship DS-17 from Equinor's (EQNR) Equinor Energy do Brasil.