01:51 PM EDT, 07/28/2026 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 1.3% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.2%.

The Philadelphia Oil Service Sector Index shed 2.6%, and the Dow Jones US Utilities Index was up 0.6%.

President Donald Trump said talks with Iran were continuing and again threatened to destroy Iranian bridges and power plants if no deal is made, CNN reported. Iran's foreign ministry spokesman, Esmaeil Baghaei, said Tehran was not negotiating with the US but added that "intermediaries may convey messages from the American side to us regarding ongoing developments in the region," Al Jazeera reported.

Front-month West Texas Intermediate crude oil fell 4.1% to $79.19 a barrel, and the global benchmark Brent crude contract dropped 4.5% to $81.98 a barrel. Henry Hub natural gas futures declined 2.7% to $2.71 per 1 million BTU.

In corporate news, ExxonMobil ( XOM ) offers limited upside following its recent share-price gains, while Chevron ( CVX ) presents a stronger medium-term setup, BofA Securities said in a Tuesday note. BofA lowered its rating on ExxonMobil ( XOM ) to neutral from buy while raising its price target to $158 from $154. BofA kept its buy rating on Chevron ( CVX ) and increased its price target to $227 from $210. ExxonMobil ( XOM ) fell 1.6%, and Chevron ( CVX ) was down 1%.

HF Sinclair ( DINO ) reported higher Q2 adjusted earnings and revenue, and raised its quarterly dividend. Separately, HF Sinclair ( DINO ) said it plans to separate its Lubricants and Specialties segment into an independent publicly traded company. HF Sinclair ( DINO ) shares were down 0.4%.

Expro ( XPRO ) shares rose 0.5% after the company increased its 2026 revenue outlook.