Energy stocks were mixed Tuesday afternoon with the NYSE Energy Sector Index up 0.1% and the Energy Select Sector SPDR Fund (XLE) easing 0.2%.
The Philadelphia Oil Service Sector Index rose 1.1%, and the Dow Jones US Utilities Index eased 0.2%.
West Texas Intermediate crude oil declined 0.4% to $71.21 a barrel, and global benchmark Brent fell 0.3% to $74.55 a barrel. Henry Hub natural gas futures dropped 3.3% to $3.98 per 1 million BTU.
In corporate news, Energys Group (ENGS) stock rose 10% in their Nasdaq debut after the company priced 2.3 million shares at $4.50 apiece in the initial public offering.
Unitil (UTL) shares added 1.2%. The company agreed to buy Maine Natural Gas from Avangrid Enterprises for $86 million.
Vale (VALE) agreed to form a joint venture with Global Infrastructure Partners through its renewable energy business Alianca Energia, Reuters reported. Vale shares rose 1.8%.
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