03:54 PM EDT, 07/02/2026 (MT Newswires) -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.

The Philadelphia Oil Service Sector Index rose 0.2%, and the Dow Jones US Utilities Index climbed 2.1%.

The Doha discussions between the US and Iran produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said in a post on X, according to Reuters.

Front-month West Texas Intermediate crude oil decreased 0.1% to $68.51 a barrel, and the global benchmark Brent crude contract was up 0.1% at $71.62 a barrel. Henry Hub natural gas futures fell 0.5% to $3.20 per 1 million BTU.

In sector news, US natural gas stocks increased by 87 billion cubic feet in the week ended June 26, larger than the 84 billion cubic feet increase expected in a survey compiled by Bloomberg and following an increase of 76 billion cubic feet in the previous week.

In corporate news, Chevron's ( CVX ) Kilby power project differentiates the company from its global peers and could become a new earnings growth driver while supporting a higher valuation over time, UBS Securities said. The brokerage said in a note that the 2.67-gigawatt project, being developed with Joulent to supply power to a Microsoft (MSFT) data center under a 20-year agreement, could become one of the largest -- if not the largest -- behind-the-meter power projects developed to date. Chevron ( CVX ) shares were up 2.1%.

Obsidian Energy ( OBE ) said Thursday it closed the acquisition of Belly River light oil assets in the Wilson Creek area of Willesden Green for $98 million, adding 2,500 barrels of oil equivalent per day of light oil production and 35 sections of land. Obsidian Energy ( OBE ) shares rose 0.6%.

TotalEnergies (TTE) said it has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million. TotalEnergies shares added 2.4%.

Tsakos Energy Navigation ( TEN ) said it placed an order for a second LNG carrier at Hyundai Heavy Industries in South Korea, with delivery expected in Q1 2029. Tsakos shares jumped past 5%.