03:46 PM EDT, 04/16/2024 (MT Newswires) -- Energy stocks fell late Tuesday afternoon with the NYSE Energy Sector Index shedding 0.5% and the Energy Select Sector SPDR Fund (XLE) down 0.8%.

The Philadelphia Oil Service Sector index lost1.4%, and the Dow Jones US Utilities index dropped 1.5%.

West Texas Intermediate crude oil rose 0.1% to $85.48 a barrel, while global benchmark Brent was little changed at $90.14 a barrel. Henry Hub natural-gas futures climbed 2.2% to $1.729 per 1 million BTU.

In corporate news, Duke Energy's ( DUK ) goals to reduce carbon emissions are challenged by the huge increase in electricity demand from manufacturing and developing artificial intelligence projects, Chief Executive Lynn Good said Tuesday. Duke shares fell 1.3%.

KKR (KKR) hired former Shell (SHEL) Chief Executive Officer Ben Van Beurden as a senior adviser, according to the investment firm's website. KKR shares rose 1.2%, and Shell dropped 1.1%.

SilverBow Resources ( SBOW ) shares dropped 2.8% after Kimmeridge Energy Management said it withdrew its proposal to combine SilverBow with its natural gas unit.

Chevron's ( CVX ) Chevron Technology Ventures arm launched a $500 million fund to invest in clean energy technologies, Bloomberg reported. Chevron ( CVX ) shares fell 0.8%.