Energy stocks were rising late Tuesday afternoon, with the NYSE Energy Sector Index up 0.1% and the Energy Select Sector SPDR Fund (XLE) adding 0.3%.

The Philadelphia Oil Service Sector index was fractionally higher, and the Dow Jones US Utilities index rose 0.5%.

The International Energy Agency reduced its projections for global oil demand growth in 2025, as rising trade tensions weigh on economic prospects. The agency now expects an oil demand increase of 730,000 barrels a day this year, down by 300,000 barrels from its previous estimate.

Front-month West Texas Intermediate crude oil was slightly lower at $61.52 a barrel, and the global benchmark Brent crude contract shed 0.1% to $64.84 a barrel. Henry Hub natural gas futures were 0.1% lower at $3.32 per 1 million BTU.

In corporate news, DTE Energy (DTE) shares rose 0.1% after it said Tuesday it started construction on the first of several new solar facilities it's building in Michigan to back Ford's (F) renewable energy goals.

Peabody Energy (BTU) has halted plans to seek $500 million in private debt, which Jefferies (JEF) was marketing earlier this year to private credit firms, Bloomberg reported. Peabody shares added 2.9%.

Venture Global (VG) said it has started commercial operations at its Calcasieu Pass LNG export project . Its shares were down 0.3%.

TotalEnergies (TTE) said Tuesday it expects its Q1 hydrocarbon production at the high end of its guidance range of 2.5 million to 2.55 million barrels of oil equivalent per day, up nearly 4% from a year earlier. Separately, the company said it signed a 15-year deal with Energia Natural Dominicana to deliver 400,000 tons of liquefied natural gas annually. TotalEnergies shares added 0.3%.