Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index decreasing 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.6%.

The Philadelphia Oil Service Sector Index shed 2.1%, and the Dow Jones US Utilities Index declined 1.4%.

Front-month West Texas Intermediate crude oil fell 1.7% to $68.31 a barrel, and the global benchmark Brent crude contract dropped 2.2% to $71.38 a barrel. Henry Hub natural gas futures declined 2.2% to $3.20 per 1 million BTU.

In corporate news, New Era Energy & Digital (NUAI) appointed new executives, including Charlie Nelson, currently president and chief operating officer, as chairman and chief executive, effective immediately, the company said Wednesday. New Era Energy & Digital shares were falling past 16%.