03:48 PM EST, 01/07/2025 (MT Newswires) -- Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1% and the Energy Select Sector SPDR Fund (XLE) up 0.9%.

The Philadelphia Oil Service Sector index added 0.7%, while the Dow Jones US Utilities index shed 0.5%.

Front-month West Texas Intermediate crude oil rose 1% to $74.28 a barrel, and the global benchmark Brent crude contract advanced 1% to $77.08 a barrel. Henry Hub natural gas futures were falling 6.6% to $3.43 per 1 million BTU.

In corporate news, Hallador Energy ( HNRG ) shares rose nearly 6% after it said Hallador Power has entered into an exclusive energy supply negotiation agreement with a data center developer.

Precision Drilling ( PDS ) said Tuesday it cut its debt by $176 million in 2024, achieving the midpoint of its debt reduction target. Its shares popped 5.1%.

Liberty Energy (LBRT) shares rose 2.5% after it said Tuesday it signed a memorandum of understanding to provide power systems to direct current equipment supplier DC Grid for clients operating data center shelves and charging hubs for electric vehicle fleets.

Exxon Mobil ( XOM ) is suing California Attorney General Robert Bonta and several environmental groups, alleging they defamed and disparaged the company's plastics recycling initiatives, according to a complaint filed Monday. Exxon shares were adding 0.9%.