03:25 PM EDT, 03/19/2024 (MT Newswires) -- Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index adding 0.7% and the Energy Select Sector SPDR Fund (XLE) up 1%.

The Philadelphia Oil Service Sector Index climbed 2%, and the Dow Jones US Utilities Index was increasing 1%.

Front-month West Texas Intermediate crude oil was rising 1% to $83.51 a barrel while the global benchmark Brent crude contract was advancing 0.6% to $87.38 a barrel.

Henry Hub natural gas futures were 2.2% higher at $1.74 per 1 million BTU.

In corporate news, NuScale Power ( SMR ) shares tumbled almost 35% after Wells Fargo downgraded the company to underweight from equalweight and cut the price target to $4.50 from $7.50.