01:29 PM EDT, 07/30/2024 (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 1.3%.

The Philadelphia Oil Service Sector index was posting a 0.1% increase, and the Dow Jones US Utilities index was adding 0.2%.

Front-month West Texas Intermediate crude oil was declining 1% to $75.06 a barrel while the global benchmark Brent crude contract was dropping 1.1% to $78.90 a barrel. Henry Hub natural gas futures jumped 4.4% to $2.13 per 1 million BTU.

In corporate news, Phillips 66 (PSX) shares jumped past 4% after it reported Q2 adjusted earnings Tuesday of $2.31 per diluted share, down from $3.87 a year earlier but above the $1.98 estimate of analysts polled by Capital IQ.