01:26 PM EDT, 06/17/2025 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising about 1.3%.

The Philadelphia Oil Service Sector index was up 0.8%, and the Dow Jones US Utilities index was shedding 0.6%.

Oil prices rose after President Donald Trump called for an evacuation of Tehran. "Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON," Trump wrote in a social media post. "I said it over and over again! Everyone should immediately evacuate Tehran!"

Front-month West Texas Intermediate crude oil climbed 3% to $73.95 a barrel, and the global benchmark Brent crude contract jumped 3.2% to $75.55 a barrel. Henry Hub natural gas futures rose 1.9% to $3.82 per 1 million BTU.

In sector news, the International Energy Agency reduced its projections for global oil demand growth for 2025 and 2026, while highlighting geopolitical uncertainties as a substantial risk to supply security. The agency now expects oil demand to increase by 720,000 barrels a day this year, which it said was "marginally below" its growth estimate of 740,000 barrels outlined in May. Weak deliveries in the US and China in Q2 "undercut resilience elsewhere," the IEA said.

In corporate news, Chevron ( CVX ) unit Chevron USA said it has acquired two leasehold acreage positions to enter the domestic lithium sector. Chevron ( CVX ) shares rose 2.1%.