01:28 PM EDT, 10/01/2024 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 2.3% and the Energy Select Sector SPDR Fund (XLE) adding 2.2%.

The Philadelphia Oil Service Sector index popped 2.8%, and the Dow Jones US Utilities index was up 0.5%.

Front-month West Texas Intermediate crude oil jumped 5.4% to $71.83 a barrel while the global benchmark Brent crude contract gained 5.1% to $75.36 a barrel. Henry Hub natural gas futures were down 0.7% to $2.90 per 1 million BTU.

In corporate news, APA (APA) said Tuesday that its APA Suriname 58 unit has made a final investment decision for offshore oil development in Block 58 Suriname in an equal joint venture with TotalEnergies' (TTE) Suriname unit. APA shares jumped 5.2% and TotalEnergies rose 1.6%.