03:47 PM EDT, 05/28/2024 (MT Newswires) -- Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 1%.

The Philadelphia Oil Service Sector index was climbing 1.4%, while the Dow Jones US Utilities index was down 0.2%.

Front-month West Texas Intermediate crude rose 3.1% to $80.13 per barrel, while global benchmark Brent advanced 1.6% to $84.43 a barrel. Henry Hub natural-gas futures were 2.6% higher at $2.59 per 1 million BTU.

In corporate news, Hess (HES) said Tuesday it obtained shareholders' approval at a special meeting to its acquisition by Chevron ( CVX ) . Hess shares added 0.4%, and Chevron ( CVX ) was up 0.8%.

Former Pioneer Natural Resources Chief Executive Scott Sheffield on Tuesday asked the US Federal Trade Commission to withdraw its objection to his inclusion on the board of Exxon Mobil ( XOM ) . Exxon shares were rising 1.3%.

Shell (SHEL) is set to cut staff from its offshore wind business as Chief Executive Wael Sawan retreats from renewable energy as part of a cost-cutting plan, Bloomberg reported Tuesday. Shell added 1.3%.

Energy Transfer ( ET ) has agreed to buy WTG Midstream for about $3.25 billion from Stonepeak affiliates, the Davis Estate and Diamondback Energy ( FANG ) . Energy Transfer ( ET ) shares were adding 0.2%, and Diamondback shares were rising 2.3%.