01:30 PM EST, 01/07/2025 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each climbing 1.6%.

The Philadelphia Oil Service Sector index rose 1.3%, and the Dow Jones US Utilities index was fractionally higher.

Front-month West Texas Intermediate crude oil was rising 1.2% to $74.44 a barrel while the global benchmark Brent crude contract was advancing 1.2% to $77.22 a barrel. Henry Hub natural gas futures were falling 4.7% to $3.50 per 1 million BTU.

In corporate news, Liberty Energy (LBRT) shares were up 1.6% after it said Tuesday it signed a memorandum of understanding to provide power solutions to direct current equipment supplier DC Grid for clients operating data center shelves and charging hubs for electric vehicle fleets.