03:46 PM EDT, 08/27/2024 (MT Newswires) -- Energy stocks were falling late Tuesday afternoon, with the NYSE Energy Sector Index down 0.7% and the Energy Select Sector SPDR Fund (XLE) decreasing 1%.

The Philadelphia Oil Service Sector Index was dropping 1%, and the Dow Jones US Utilities Index was shedding 0.7%.

Front-month West Texas Intermediate crude oil fell 2.3% to $75.62 a barrel while the global benchmark Brent crude contract dropped 2.2% to $79.63 a barrel. Henry Hub natural gas futures were 2% lower at $1.92 per 1 million BTU.

In corporate news, ReNew (RNW) shares added 0.4% after it said Tuesday it has signed a 437.6 megawatts renewable power sale agreement with Microsoft ( MSFT ) .

Exxon Mobil ( XOM ) is looking to sell a host of traditional oil assets in the Permian Basin for about $1 billion as it focuses on shale production, Bloomberg reported Tuesday. Exxon shares were falling 0.8%.

BWX Technologies ( BWXT ) shares added 0.1% after it said Monday it won a contract to conduct a yearlong study for the National Nuclear Security Administration on options for establishing a centrifuge pilot plant for domestic uranium enrichment for national security purposes.

Woodside Energy ( WDS ) has received interest from potential equity partners for the US ammonia project it's acquiring from OCI Global for $2.35 billion, the Wall Street Journal reported. Woodside shares were rising 2.5%.