03:30 PM EDT, 03/12/2024 (MT Newswires) -- Energy stocks were advancing late Tuesday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 0.2%.

The Philadelphia Oil Service Sector index was up 0.3%, while the Dow Jones US Utilities index fell 0.7%.

Front-month West Texas Intermediate crude oil was down 0.3% to $77.66 a barrel while the global benchmark Brent crude contract was shedding 0.3% to $82 a barrel. Henry Hub natural gas futures were 2.7% lower at $1.71 per 1 million BTU.

In corporate news, Vale (VALE) board member Jose Luciano Duarte Penido, who resigned on Monday, alleged that the succession process of the chief executive of the company was "manipulated," according to media reports Tuesday. Vale shares were down 0.1%.