03:23 PM EST, 12/31/2024 (MT Newswires) -- Energy stocks climbed late Tuesday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 1.4%.

The Philadelphia Oil Service Sector index gained 2.3%, and the Dow Jones US Utilities index fell 0.4%.

West Texas Intermediate crude oil rose 1.3% to $71.90 a barrel, while global benchmark Brent advanced 0.9% to $74.64 a barrel. Henry Hub natural gas futures tumbled 7.2% to $3.65 per 1 million BTU.

In corporate news, Hawaiian Electric Industries ( HE ) closed the sale of 90.1% of common stock of American Savings Bank to independent investors for $405 million in cash. The company also said a comprehensive evaluation of alternatives for its Pacific Current unit is underway. Hawaiian Electric shares fell 2.3%.