03:42 PM EDT, 06/18/2024 (MT Newswires) -- Energy stocks rose late Tuesday afternoon with the NYSE Energy Sector Index up 0.6% and the Energy Select Sector SPDR Fund (XLE) adding 0.4%.

The Philadelphia Oil Service Sector index gained 0.9%, and the Dow Jones US Utilities index was little changed, paring earlier losses.

West Texas Intermediate crude oil rose 1.4% to $81.49 a barrel, while global benchmark Brent crude advanced 1.3% to $85.31 a barrel. Henry Hub natural gas futures surged 4.3% to $2.91 per 1 million BTU.

In corporate news, Ballard Power Systems ( BLDP ) shares jumped 8.2% the company announced a partnership with Vertiv (VRT) to adapt hydrogen-powered fuel cells to supply backup electric power for data centers and other critical infrastructures. Vertiv's stock rose 6.8%.

Constellation Energy ( CEG ) shares rose 4% as UBS raised its price target on the stock to $249 from $227 and kept the buy rating.

NextEra Energy (NEE) fell 2.9% after the company agreed to sell $2 billion of equity units to Wells Fargo Securities and BofA Securities.

Berkshire Hathaway (BRK.A) raised its stake in Occidental Petroleum ( OXY ) to about 255.3 million shares after a series of purchases from June 5 to Monday. Occidental Petroleum ( OXY ) shares gained 1.8%.