The Philadelphia Oil Service Sector Index lost 2.8%, and the Dow Jones US Utilities Index shed 0.5%.

West Texas Intermediate crude oil declined 2.7% to $63.83 a barrel, and global benchmark Brent dropped 2.4% to $67.48 a barrel. Henry Hub natural gas futures rose 1.8% to $3.06 per 1 million BTU.

In corporate news, Diamondback Energy (FANG) shares fell past 5% after KeyBanc cut its price target on the company to $176 from $180 while maintaining its overweight rating. Johnson Rice also cut Diamondback's price target to $190 from $200.

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