03:46 PM EDT, 08/05/2024 (MT Newswires) -- Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index falling 1.9% and the Energy Select Sector SPDR Fund (XLE) dropping 2.4%.

The Philadelphia Oil Service Sector index retreated 4.1%, and the Dow Jones US Utilities index slumped 2.5%.

Front-month West Texas Intermediate crude oil slid 0.2% to $73.41 a barrel, while the global benchmark Brent crude contract shed 0.1% to $76.75 a barrel. Henry Hub natural gas futures were 1.2% lower at $1.94 per 1 million BTU.

In corporate news, Kosmos Energy ( KOS ) reported Q2 adjusted earnings Monday of $0.17 per diluted share, up from $0.06 a year earlier. Four analysts polled by Capital IQ expected $0.13. Kosmos shares fell 5.6%.

Woodside Energy ( WDS ) said Monday it has signed a binding agreement to buy OCI Clean Ammonia and its lower carbon ammonia project in Beaumont, Texas, for about $2.35 billion. Woodside shares dropped 4%.

Clean Energy Fuels ( CLNE ) said that its renewable natural gas facility at Ash Grove Dairy in Lake Benton, Minnesota, is now operational. Its shares were 1.9% lower.

Petrobras (PBR) said that it has achieved the main target of the Uchuva 2 well, confirming the extent of the gas discovery made in 2022 with the drilling of the Uchuva 1 well. Its shares were falling 2.4%.