03:43 PM EDT, 05/13/2025 (MT Newswires) -- Energy stocks rose late Tuesday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) both gaining 2%.

The Philadelphia Oil Service Sector Index climbed 1.7%, and the Dow Jones US Utilities Index dropped 0.2%.

West Texas Intermediate crude oil rose 2.9% to $63.74 a barrel, and global benchmark Brent advanced 2.6% to $66.65 a barrel. Henry Hub natural gas futures eased 0.1% to $3.64 per 1 million BTU.

In corporate news, Consolidated Water ( CWCO ) shares jumped 6.7% after its Kalaeloa Desalco unit received key approval from the Honolulu Board of Water Supply for its $204 million project to build and maintain a desalination plant in Hawaii.

OMS Energy Technologies ( OMSE ) stock fell past 15% in recent Tuesday trading after the company priced its IPO of about 3.7 million shares on Nasdaq at $9 per share.

Aramco Chief Executive Officer Amin Nasser said the Saudi Arabian state-owned oil company will sign memoranda of understanding with NextDecade ( NEXT ) and Sempra ( SRE ) to supply around 6.2 million tons of liquid natural gas to Aramco, Reuters reported. NextDecade ( NEXT ) shares jumped 8.3%, and Sempra ( SRE ) was fractionally higher.

Institutional Shareholder Services recommended that Phillips 66 (PSX) investors support the four board nominees backed by Elliott Investment Management. Phillips 66 said it "strongly" disagrees with the recommendation. Phillips 66 shares climbed past 6%.

First Solar ( FSLR ) shares surged 23% after Wolfe Research upgraded the stock to outperform from peer perform with a $221 price target.