03:33 PM EDT, 05/07/2024 (MT Newswires) -- Energy stocks were inching ahead late Tuesday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) up fractionally.

The Philadelphia Oil Service Sector Index was posting a 0.9% gain, and the Dow Jones US Utilities index was adding 0.7%.

Front-month West Texas Intermediate crude oil was steady at $78.49 a barrel while the global benchmark Brent crude contract fell 0.1% to $83.24 a barrel. Henry Hub natural gas futures were 0.6% higher at $2.21 per 1 million BTU.

In corporate news, HNR Acquisition ( HNRA ) said Tuesday it has regained compliance with the NYSE's requirement for timely filing of financial reports. The company also said it received from its auditing firm an opinion with "going concern" qualification for its audited financial statements for the year ended Dec. 31. HNR said the firm raised concern about its "significant" working capital deficiency that requires it to raise additional funds to meet its obligations and sustain its operations. Its shares tumbled more than 8%.