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Sector Update: Energy

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Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 1.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.4%.

The Philadelphia Oil Service Sector Index was climbing 2.4%, and the Dow Jones US Utilities Index was up 2%.

Front-month West Texas Intermediate crude oil was rising 1% to $93.12 a barrel, and the global benchmark Brent crude contract was advancing 0.7% to $95.64 a barrel. Henry Hub natural gas futures decreased 0.9% to $3.15 per 1 million BTU.

In corporate news, Hallador Energy (HNRG) shares rose 1.5%. The company said late Monday it has agreed to acquire about 460 megawatts of Siemens gas turbines, generators and related equipment from Energy World for $350 million to back development of Hallador's Merom natural gas-fired combustion turbine project.

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