Energy stocks were mixed Tuesday afternoon, with the NYSE Energy Sector Index rising 0.2% and the Energy Select Sector SPDR Fund (XLE) easing 0.3%.

The Philadelphia Oil Service Sector index was posting a 0.3% increase, and the Dow Jones US Utilities index was shedding 0.4%.

Front-month West Texas Intermediate crude oil was rising 1.4% to $71.39 a barrel, and the global benchmark Brent crude contract was advancing 1.4% to $74.95 a barrel. Henry Hub natural gas futures were 1.7% lower at $2.57 per 1 million BTU.

In corporate news, TotalEnergies (TTE) shares added 0.6% after the company said Tuesday it signed an agreement with HD Hyundai Chemical to supply 200,000 tons of liquefied natural gas per year for a seven-year period.

The US Federal Trade Commission is set to approve Chevron's (CVX) $53 billion acquisition of Hess (HES) as early as this week, Reuters reported Tuesday. Shares of Chevron and Hess were shedding 0.2% each.

Diamondback Energy (FANG) and Kinetik (KNTK) together acquired a 30% equity stake in Epic Midstream affiliate Epic Crude, according to a joint statement Tuesday. Diamondback shares were 0.1% higher and Kinetik was up 0.2%.