03:26 PM EDT, 07/17/2025 (MT Newswires) -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index up 0.3% and the Energy Select Sector SPDR Fund (XLE) adding 0.6%.

The Philadelphia Oil Service Sector index climbed 1.6%, and the Dow Jones US Utilities index was advancing 0.6%.

Front-month West Texas Intermediate crude oil rose 2% to $67.68 a barrel, and the global benchmark Brent crude contract was advancing 1.6% to $69.61 a barrel. Henry Hub natural gas futures eased 0.5% to $3.53 per 1 million BTU.

US natural gas stocks rose by 46 billion cubic feet in the week ended July 11, slightly larger than the 45 billion cubic foot rise expected in a Bloomberg survey and following an increase of 53 billion cubic feet in the previous week.

In corporate news, Chevron ( CVX ) is shifting its Permian Basin strategy from swift expansion to steady cash generation as it nears its long-term production target of 1 million barrels of oil equivalent a day in the region, a move expected to generate $5 billion in annual free cash flow by 2027, Bloomberg reported, citing Bruce Niemeyer, president of the company's shale business. Chevron ( CVX ) shares were rising 1.2%.