03:23 PM EDT, 03/11/2025 (MT Newswires) -- Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index down 0.3% and the Energy Select Sector SPDR Fund (XLE) shedding 0.4%.

The Philadelphia Oil Service Sector index eased 0.3%, and the Dow Jones US Utilities index slipped 0.4%.

Front-month West Texas Intermediate crude oil rose 0.6% to $66.45 a barrel while the global benchmark Brent crude contract advanced 0.7% to $69.78 a barrel. Henry Hub natural gas futures fell 2.4% to $4.38 per 1 million BTU.

In sector news, Ontario Premier Doug Ford said Tuesday on X his province has agreed to suspend its 25% surcharge on electricity exports to Michigan, New York and Minnesota. Ford said he will meet with US Commerce Secretary Howard Lutnick on Thursday in Washington, D.C.

In corporate news, GE Vernova's ( GEV ) power conversion and storage business signed a memorandum of understanding with PyroGenesis to start discussions toward a multiyear collaboration, PyroGenesis said Tuesday. GE Vernova ( GEV ) shares jumped nearly 6%.