Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 1.2%.

The Philadelphia Oil Service Sector Index increased 0.4%, and the Dow Jones US Utilities Index was up 0.7%.

Front-month West Texas Intermediate crude oil jumped 5.4% to $90.39 a barrel, and the global benchmark Brent crude contract surged nearly 5% to $94.98 a barrel. Henry Hub natural gas futures rose 0.2% to $2.94 per 1 million BTU.

In corporate news, Comstock Resources (CRK) shares jumped 10% after the company said it entered into a letter of intent under which the State Oil Co. of the Azerbaijan Republic, or SOCAR, would acquire interests in some of its Haynesville assets for $1.65 billion in cash.