01:46 PM EDT, 07/23/2024 (MT Newswires) -- Energy stocks fell Tuesday afternoon with the NYSE Energy Sector Index shedding 1.5% and the Energy Select Sector SPDR Fund (XLE) down 1.4%.

The Philadelphia Oil Service Sector index rose 0.2%, and the Dow Jones US Utilities index shed 0.2%.

West Texas Intermediate crude oil declined 1.7% to $77.10 a barrel, while global benchmark Brent dropped 1.5% to $81.15 a barrel. Henry Hub natural gas futures fell 2.7% to $2.19 per 1 million BTU.

In corporate news, Genesis Energy (GEL) shares gained 1.8% after it syndicated, upsized and closed on an extension of its revolving credit facility with $900 million in commitments from existing and new lenders.

Mammoth Energy Services ( TUSK ) shares surged 20%, a day after its Cobra Acquisitions unit got $188.4 million in settlement proceeds as the company agreed with the Puerto Rico Electric Power Authority and the Financial Oversight and Management Board for Puerto Rico on "all outstanding matters."

Kirby's (KEX) product tanker rates "held at solid levels" in Q2, while crude tanker rates face a "typical 3Q seasonal swoon," BofA Securities said. BofA increased the price objective on Kirby's stock to $141 from $138 and reiterated the buy rating. Kirby shares rose 0.1%.