03:52 PM EDT, 07/01/2024 (MT Newswires) -- Energy stocks rose late Monday afternoon with the NYSE Energy Sector Index adding 0.3% and the Energy Select Sector SPDR Fund (XLE) up 0.2%.

The Philadelphia Oil Service Sector index fell 1.5% drop, and the Dow Jones US Utilities index shed 0.7%.

West Texas Intermediate crude oil rose 2.3% to $83.40 a barrel while global benchmark Brent crude advanced 2% to $86.70 a barrel. Henry Hub natural gas futures tumbled 4.6% to $2.48 per 1 million BTU.

In sector news, the number of oil rigs in the US fell by six for the week ended June 28, according to data compiled by energy services company Baker Hughes (BKR).

In corporate news, Nano Nuclear Energy ( NNE ) shares soared 25% after it signed a memorandum of understanding with Curio Solutions to improve Curio's nuclear fuel recycling capabilities.

NextEra Energy Partners ( NEP ) may face a dividend cut amid $3.7 billion in convertible equity portfolio financing liabilities after 2026 and "insufficient growth from wind repowerings," RBC Capital Markets said in a report. RBC lowered its rating on the stock to sector perform from outperform and cut its price target to $30 from $38. NextEra shares tumbled 8.5%.

NextDecade ( NEXT ) fell 1.7% after the Rio Grande LNG unit has issued $1.12 billion of senior secured notes in a private placement.

Amazon.com's (AMZN) Amazon Web Services is among a group of tech companies attempting to secure deals to power AI data centers with nuclear energy, the Wall Street Journal reported. Amazon Web Services is in talks with Constellation Energy ( CEG ) . Constellation shares rose 2.3%.