03:23 PM EDT, 04/08/2024 (MT Newswires) -- Energy stocks were advancing late Monday afternoon, with the NYSE Energy Sector Index rising 0.2% and the Energy Select Sector SPDR Fund (XLE) fractionally higher.

The Philadelphia Oil Service Sector index shed 0.4%, while the Dow Jones US Utilities index was adding 0.6%.

Front-month West Texas Intermediate crude oil was declining 0.4% to $86.61 a barrel while the global benchmark Brent crude contract was dropping 0.7% to $90.58 a barrel. Henry Hub natural gas futures jumped 3.1% to $1.84 per 1 million BTU.

In corporate news, BP (BP) is nearing a deal to offload a portion of its oil and gas assets in Trinidad and Tobago to Anglo-French oil company Perenco, Reuters reported Monday. BP shares rose 0.9%.