01:25 PM EST, 02/18/2025 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 1.4% and the Energy Select Sector SPDR Fund (XLE) adding 1.9%.

The Philadelphia Oil Service Sector index climbed 2.1%, and the Dow Jones US Utilities index was up 0.8%.

Front-month West Texas Intermediate crude oil was rising 1.2% to $71.60 a barrel while the global benchmark Brent crude contract was advancing 0.5% to $75.58 a barrel. Henry Hub natural gas futures jumped 4.9% to $3.91 per 1 million BTU.

In corporate news, Diamondback Energy ( FANG ) on Tuesday agreed to buy some subsidiaries of oil producer Double Eagle IV Midco in a cash-and-stock deal to bolster its position in the Midland Basin. Diamondback shares gained 1.2%.