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Sector Update: Energy

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Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index increasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.

The Philadelphia Oil Service Sector Index was rising 0.5%, and the Dow Jones US Utilities Index was up 0.7%.

Front-month West Texas Intermediate crude oil decreased 0.8% to $73.26 a barrel, and the global benchmark Brent crude contract fell 1% to $77.15 a barrel. Henry Hub natural gas futures dropped 3.3% to $3.15 per 1 million BTU.

In corporate news, the US Supreme Court on Tuesday reversed and remanded rulings by lower courts, reviving Exxon Mobil's (XOM) lawsuit seeking more than $1 billion in damages from Cuban government-owned companies over assets confiscated following Fidel Castro's seizure of power in 1959. Exxon shares rose 1.2%.

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