03:25 PM EDT, 03/25/2024 (MT Newswires) -- Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index adding 1% and the Energy Select Sector SPDR Fund (XLE) up 0.9%.

The Philadelphia Oil Service Sector index was climbing 1.4% while the Dow Jones US Utilities index was increasing 0.4%.

Front-month West Texas Intermediate crude oil was rising 1.9% to $82.12 a barrel while the global benchmark Brent crude contract was advancing 1.7% to $86.88 a barrel. Henry Hub natural gas futures were 2.8% lower at $1.61 per 1 million BTU.

In corporate news, Woodside Energy ( WDS ) is negotiating better financial terms from the Trinidad and Tobago government before agreeing to develop the Calypso deepwater natural gas project in the country, Reuters reported Friday, citing Chief Executive Meg O'Neill. Woodside shares added 1.6%.