Sector Update: Energy Stocks Rise in Tuesday Afternoon Trading

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Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.9% and the Energy Select Sector SPDR Fund (XLE) adding 1.3%.

The Philadelphia Oil Service Sector index climbed 2.1%, and the Dow Jones US Utilities index was down 0.2%.

Front-month West Texas Intermediate crude oil was rising 1.3% to $71.95 a barrel while the global benchmark Brent crude contract was advancing 1% to $74.70 a barrel. Henry Hub natural gas futures dropped 8.7% to $3.59 per 1 million BTU.

In corporate news, ONEOK (OKE) has closed the sale of its three interstate natural gas pipeline systems to DT Midstream (DTM) for $1.2 billion, the companies said Tuesday. ONEOK shares were shedding 0.2% and DT Midstream was down 0.6%.

BW LPG (BWLP) shares gained 3% after the company said it has completed the $1.05 billion acquisition of 12 very large gas carriers from Avance Gas following the delivery of the final vessel, BW Avior.

Chart Industries (GTLS) shares rose 1.2% after the company said Tuesday that it has received an order from Bechtel to supply its liquefaction technology and cold boxes for Woodside Energy's (WDS) Louisiana LNG production facility.

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