01:40 PM EDT, 09/17/2024 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index up 0.6% and the Energy Select Sector SPDR Fund (XLE) rising 1.1%.

The Philadelphia Oil Service Sector index climbed 2.3%, and the Dow Jones US Utilities index was easing 0.1%.

Front-month West Texas Intermediate crude oil was rising 2.3% to $71.67 a barrel while the global benchmark Brent crude contract was advancing 1.8% to $74.05 a barrel. Henry Hub natural gas futures were 1% lower at $2.35 per 1 million BTU.

In corporate news, VivoPower ( VVPR ) shares tumbled 22% after the company said it signed an agreement to merge with Future Automotive Solutions and Technologies in all stock deal.