01:42 PM EDT, 04/23/2024 (MT Newswires) -- Energy stocks rose Tuesday afternoon, with the NYSE Energy Sector Index gaining 0.5% and the Energy Select Sector SPDR Fund (XLE) up 0.4%.

The Philadelphia Oil Service Sector index climbed 1.1%, and the Dow Jones US Utilities index added 0.7%.

West Texas Intermediate crude oil rose 1.5% to $83.12 a barrel, while the global benchmark Brent crude contract advanced 1.3% to $88.15 a barrel. Henry Hub natural gas futures eased 0.3% to $1.79 per 1 million BTU.

In corporate news, NextEra Energy (NEE) reported Q1 adjusted earnings of $0.91 per diluted share, up from $0.84 a year earlier. Analysts polled by Capital IQ expected $0.78. Its shares gained 1.8%.

Baker Hughes ( BKR ) shares added 1.4% after it said Tuesday it has been selected to supply gas technology equipment for the third phase of Saudi Aramco's Master Gas System project in Saudi Arabia.

Shell (SHEL) and TotalEnergies (TTE) are among a group of companies in talks to buy stakes in Abu Dhabi National Oil's next liquefied natural gas export project in the United Arab Emirates, Bloomberg reported. Shell shares were up 0.5% and TotalEnergies was adding 0.3%.