03:47 PM EDT, 08/20/2024 (MT Newswires) -- Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index falling 1.7% and the Energy Select Sector SPDR Fund (XLE) dropping 2.1%.

The Philadelphia Oil Service Sector index slumped 2.9%, and the Dow Jones US Utilities index shed 0.2%.

Front-month West Texas Intermediate crude oil was declining 0.4% to $74.04 a barrel while the global benchmark Brent crude contract was shedding 0.4% to $77.32 a barrel. Henry Hub natural gas futures dropped 1.3% to $2.21 per 1 million BTU.

In corporate news, Sasol's ( SSL ) shares fell 3.7% after its fiscal full-year results trailed analysts' estimates. The company also omitted a final dividend, citing high debt.

SJW Group's ( SJW ) San Jose Water unit said Tuesday it has reached a settlement agreement in its 2025 to 2027 General Rate Case that was filed with the California Public Utilities Commission earlier this year. The agreement provides for $450 million in drinking water infrastructure investment over three years. SJW Group ( SJW ) shares were shedding 1%.

Nano Nuclear Energy ( NNE ) shares rose 0.5% after it said Tuesday that it acquired a property in Oak Ridge, Tennessee, for about $1.7 million to house its nuclear technology headquarters.

Gran Tierra Energy ( GTE ) shares tumbled 7.3%. The company said Monday that it has agreed to buy UK-based i3 Energy for 174.1 million British pounds ($226.7 million) in a cash-and-stock deal.