Energy stocks dropped late Tuesday afternoon with the NYSE Energy Sector Index falling and the Energy Select Sector SPDR Fund (XLE) both down 0.7%.

The Philadelphia Oil Service Sector index declined 1.2%, and the Dow Jones US Utilities index shed 1%.

West Texas Intermediate crude oil rose 0.9% to $73.80 a barrel, while global benchmark Brent advanced 0.5% to $77.49 a barrel. Henry Hub natural gas futures slumped 7.7% to $3.41 per 1 million BTU.

In corporate news, TotalEnergies (TTE) signed a 15-year contract to supply an overall volume of 1.5 TWh of renewable electricity to STMicroelectronics (STM) sites in France. TotalEnergies shares shedding 1.1%.

Vermilion Energy (VET) shares fell 1%. The company plans to issue up to $400 million of eight-year senior unsecured notes in a private offering.

XPLR Infrastructure (NEP) shares tumbled 26%. The company reported a Q4 loss of $1.08 per diluted unit, swinging from a profit of $1.20 a year earlier. The company plans to use operating cash flow to fund investments and suspend distributions to shareholders.

NextEra Energy (NEE) shares retreated 4.8%. The company continues to expect adjusted per-share earnings of $3.45 to $3.70 in 2025 and $3.63 to $4 for 2026. Analysts polled by FactSet expect $3.68 this year and $4.01 next year.