Sector Update: Energy Stocks Gain Late Afternoon
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Energy stocks experienced a notable increase late Tuesday, with the NYSE Energy Sector Index rising 3% and the State Street Energy Select Sector SPDR ETF (XLE) up 3.4%. Key contributors included Marathon Petroleum, which saw a 5.2% gain after exceeding Q4 earnings expectations, and TotalEnergies, which rose 3% following a new cooperation agreement with Kuwait Oil. New Jersey Resources and Alliant Energy also reported positive earnings, contributing to the sector's overall performance. Crude oil prices also saw an uptick, with West Texas Intermediate rising 2.7%.
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