01:48 PM EST, 01/14/2025 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index up 0.6% and the Energy Select Sector SPDR Fund (XLE) rising 1%.

The Philadelphia Oil Service Sector index was easing 0.3%, and the Dow Jones US Utilities index was adding 1.5%.

Front-month West Texas Intermediate crude oil was declining 1.5% to $77.64 a barrel while the global benchmark Brent crude contract was down 1.1% to $80.13 a barrel. Henry Hub natural gas futures rose 3% to $4.05 per 1 million BTU.

In corporate news, Calumet (CLMT) shares fell nearly 11%. The company said it expects to report a net loss ranging from $54 million to $24 million in Q4. Analysts polled by FactSet expect a net loss of $52.2 million.

BP (BP) shares were down 0.4% after the company said it expects "weaker" realized refining margins in Q4 to be between $100 million and $300 million and a higher "impact" from turnaround activity.

Hess Midstream ( HESM ) shares popped 4.1% after it said Tuesday that its unit Hess Midstream Operations has agreed to repurchase $100 million class B units from affiliates of Hess Corp. (HES) and BlackRock (BLK) division Global Infrastructure Partners.