Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index falling 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.8%.
The Philadelphia Oil Service Sector Index declined 2.2%, and the Dow Jones US Utilities Index shed 1.2%.
Front-month West Texas Intermediate crude oil fell 1.1% to $74.95 a barrel, and the global benchmark Brent crude contract decreased 0.3% to $79.10 a barrel. Henry Hub natural gas futures rose 0.2% to $2.69 per 1 million BTU.
In corporate news, MGE Energy (MGEE) shares were down 0.5% after the company reported its Q2 results.
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