01:55 PM EDT, 09/10/2024 (MT Newswires) -- Energy stocks fell Tuesday afternoon with the NYSE Energy Sector Index dropping 2.5% and the Energy Select Sector SPDR Fund (XLE) declining 2.4%.

The Philadelphia Oil Service Sector index slumped 3.3%, while the Dow Jones US Utilities index rose 0.5%.

West Texas Intermediate crude oil tumbled 4.4% to $65.72 a barrel, while global benchmark Brent slumped 3.8% to $69.10 a barrel. Henry Hub natural gas futures rose 3.6% higher to $2.249 per 1 million BTU.

In corporate news, Helmerich & Payne (HP) shares fell 3.5% after the company said it plans to launch a private placement of senior unsecured notes to help finance the acquisition of KCA Deutag.

SLB (SLB) achieved sustainable lithium production at scale at its demonstration plant in Clayton Valley, Nevada. The stock fell 2.9%.

Diamondback Energy ( FANG ) completed its acquisition of Endeavor Energy Resources. Diamondback shares fell 5.7%.