03:20 PM EST, 11/18/2024 (MT Newswires) -- Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 1.5% and the Energy Select Sector SPDR Fund (XLE) climbing 1.4%.

The Philadelphia Oil Service Sector index was gaining 1.6%, and the Dow Jones US Utilities index was adding 0.8%.

Front-month West Texas Intermediate crude oil rose 3.2% to $69.15 a barrel while the global benchmark Brent crude contract advanced 3.2% to $73.33 a barrel. Henry Hub natural gas futures jumped 5% to $2.97 per 1 million BTU.

In corporate news, Petrobras (PBR) shares were up 2.4% after the Brazilian oil major said Monday it plans to invest $111 billion over a five-year period from 2025 to 2029.