-- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1%.
The Philadelphia Oil Service Sector Index was climbing 1.4%, while the Dow Jones US Utilities Index fell 1.4%.
Front-month West Texas Intermediate crude oil was rising 2.8% to $92.10 a barrel, and the global benchmark Brent crude contract was advancing 3% to $98.30 a barrel. Henry Hub natural gas futures slightly increased to $2.69 per 1 million BTU.
In corporate news, Halliburton (HAL) shares gained 3.7% after it reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.
Spain's National Markets and Competition Commission, or CNMC, has shelved its investigation into BP (BP), Repsol, and Cepsa's alleged collusive practices and abuse of their dominant market position, according to a translation of a Tuesday statement from the regulator. BP shares gained 1.5%.
Shell (SHEL) faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects, Reuters reported, citing court documents. Shell shares were up 0.4%.
BHP (BHP) is looking to pursue large-scale copper exploration in Zambia, Reuters reported Tuesday, citing the country's mines ministry. The company is targeting major deposits that are harder to detect using traditional methods, focusing on deeply buried or geologically concealed resources, the mines ministry quoted Campbell McCuaig, BHP's head of global generative exploration, as saying, Reuters reported. BHP shares were down 1.9%.