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Sector Update: Energy

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Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index down 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1%.

The Philadelphia Oil Service Sector Index shed 2.8%, and the Dow Jones US Utilities Index was fractionally higher.

Front-month West Texas Intermediate crude oil fell 4.4% to $79.02 a barrel, and the global benchmark Brent crude contract dropped 5.1% to $83.89 a barrel. Henry Hub natural gas futures declined 4.2% to $2.65 per 1 million BTU.

In corporate news, CenterPoint Energy (CNP) shares rose 0.6% after its Q2 non-GAAP earnings and revenue rose year on year and beat analysts' estimates.

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