01:31 PM EDT, 06/18/2024 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.6% and the Energy Select Sector SPDR Fund (XLE) up 0.5%.

The Philadelphia Oil Service Sector index was posting a 1.1% increase, and the Dow Jones US Utilities index was down 0.1%.

Front-month West Texas Intermediate crude oil was rising 1% to $81.13 a barrel while the global benchmark Brent crude contract was advancing 0.7% to $84.87 a barrel. Henry Hub natural gas futures spiked 3.5% to $2.89 per 1 million BTU.

In corporate news, NextEra Energy (NEE) fell 3.5% after the company said it has agreed to sell $2 billion of equity units to Wells Fargo Securities and BofA Securities.