02:01 PM EST, 11/05/2024 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.6% and the Energy Select Sector SPDR Fund (XLE) up 0.2%.

The Philadelphia Oil Service Sector index was posting a 0.4% increase, and the Dow Jones US Utilities index was adding 0.8%.

Front-month West Texas Intermediate crude oil was rising 0.5% to $71.80 a barrel while the global benchmark Brent crude contract was up 0.4% at $75.36 a barrel. Henry Hub natural gas futures fell 3.8% to $2.68 per 1 million BTU.

In corporate news, Artesian Resources ( ARTNB ) shares jumped 7% following its Q3 results.

New Fortress Energy ( NFE ) shares popped 3.4%. The company is looking for strategic partners for one or more of its primary businesses as it seeks to enhance its liquidity and financial flexibility, New Fortress said.

MDU Resources' ( MDU ) share dislocation following the recent spin-off of its construction services business presents an "attractive" opportunity for investors, BofA Securities said. BofA upgraded the stock to buy from neutral while adjusting its price objective to $17 from $31. Its shares rose 5.5%.