03:22 PM EST, 02/11/2025 (MT Newswires) -- Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 0.8% and the Energy Select Sector SPDR Fund (XLE) adding 0.7%.

The Philadelphia Oil Service Sector index was up 0.5%, while the Dow Jones US Utilities index was fractionally lower.

Front-month West Texas Intermediate crude oil rose 1.5% to $73.39 a barrel while the global benchmark Brent crude contract advanced 1.6% to $77.05 a barrel. Henry Hub natural gas futures rose 2.3% to $3.52 per 1 million BTU.

In corporate news, BP (BP) is planning to cut the performance-based bonuses for its senior leaders to 45% of the target, Reuters reported. BP shares were rising 0.5%.