03:43 PM EDT, 03/11/2025 (MT Newswires) -- Energy stocks fell Tuesday afternoon with the NYSE Energy Sector Index down 0.3% and the Energy Select Sector SPDR Fund (XLE) shedding 0.6%.

The Philadelphia Oil Service Sector index dropped 0.5%, and the Dow Jones US Utilities index slipped 0.8%.

West Texas Intermediate crude oil rose 0.6% to $66.45 a barrel, global benchmark Brent advanced 0.7% to $69.78 a barrel. Henry Hub natural gas futures fell 1.7% to $4.42 per 1 million BTU.

In sector news, Ontario Premier Doug Ford said his province agreed to suspend the 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.

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. GE Vernova ( GEV ) shares rose 6.1%.

TXNM Energy ( TXNM ) shares jumped 8.1%. The company is considering a sale after getting takeover interest from a potential buyer, Bloomberg reported Monday.

HighPeak Energy ( HPK ) shares fell 5.5%, a day after the company reported Q4 net income and operating revenue that trailed estimates by analysts.

Archrock ( AROC ) agreed to buy Natural Gas Compression Systems and NGCSE for $357 million in cash and stock. Archrock ( AROC ) shares rose 6.4%.