Energy stocks fell Tuesday afternoon with the NYSE Energy Sector Index decreasing 1.3% and the Energy Select Sector SPDR Fund (XLE) shedding 1.7%.

The Philadelphia Oil Service Sector Index declined 2.5%, and the Dow Jones US Utilities Index edged down 0.1%.

West Texas Intermediate crude oil fell 1.3% to $62.60 a barrel, and global benchmark Brent dropped 1.3% to $67.09 a barrel. Henry Hub natural gas futures rose 1.7% to $3.32 per 1 million BTU.

In corporate news, CenterPoint Energy (CNP) shares fell 1.3%, a day after the company announced a $65 billion, 10-year capital investment plan through 2035.

Exxon Mobil (XOM) plans to cut about 2,000 jobs worldwide as it consolidates smaller offices into larger regional hubs, part of a broader project to boost efficiency and streamline operations, Bloomberg reported, citing an internal memo from CEO Darren Woods. Exxon shares were down 1.9%.

Tamboran Resources (TBN) shares jumped past 19% after the company said it has agreed to buy Falcon Oil & Gas for about 6.5 million common shares and $23.7 million in cash, valuing the company at about $172 million.