01:31 PM EDT, 04/01/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index adding 0.6% and the Energy Select Sector SPDR Fund (XLE) up 0.5%.

The Philadelphia Oil Service Sector index was gaining 1%, while the Dow Jones US Utilities index was shedding 1%.

Front-month West Texas Intermediate crude oil was rising 1% to $84.05 a barrel while the global benchmark Brent crude contract was advancing 0.8% to $87.68 a barrel. Henry Hub natural gas futures jumped 4.6% to $1.84 per 1 million BTU.

In corporate news, Ballard Power Systems ( BLDP ) shares jumped 15% after it said Monday it signed a long-term supply agreement with bus maker Solaris Bus & Coach to supply 1,000 hydrogen fuel cell engines through 2027 across Europe.