01:24 PM EDT, 03/21/2024 (MT Newswires) -- Energy stocks were edging higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.1% and the Energy Select Sector SPDR Fund (XLE) up 0.4%.

The Philadelphia Oil Service Sector index was posting a 0.5% increase and the Dow Jones US Utilities index was rising 0.2%.

Front-month West Texas Intermediate crude oil was declining 0.7% to $80.67 a barrel while the global benchmark Brent crude contract was down 0.6% at $85.43 a barrel.

US natural gas stocks rose by 7 billion cubic feet in the week ended March 15, above the 5 billion increase expected in a survey compiled by Bloomberg as of 7:45 am ET and following a decrease of 9 billion cubic feet in the previous week.

Henry Hub natural gas futures were 0.8% lower at $1.69 per 1 million BTU.

In corporate news, Calumet Specialty Products Partners ( CLMT ) shares were rising 1.7% as Goldman Sachs adjusted the company's price target to $17 from $19 and kept the buy rating.