Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index falling 1.6% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.8%.

The Philadelphia Oil Service Sector Index declined 1.9%, and the Dow Jones US Utilities Index shed 1.1%.

Front-month West Texas Intermediate crude oil fell 0.8% to $75.14 a barrel, and the global benchmark Brent crude contract rose 0.1% to $79.41 a barrel. Henry Hub natural gas futures shed 0.5% to $2.67 per 1 million BTU.

In corporate news, Gran Tierra Energy (GTE) shares surged 39% after the company said Wednesday it agreed to sell its oil business in Colombia and Ecuador to Paris-listed Etablissements Maurel & Prom for an enterprise value of $1.33 billion.