03:26 PM EDT, 05/06/2024 (MT Newswires) -- Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 1.1% and the Energy Select Sector SPDR Fund (XLE) adding 0.9%.

The Philadelphia Oil Service Sector index climbed 1.2%, and the Dow Jones US Utilities index was up 0.5%.

Front-month West Texas Intermediate crude oil rose 0.7% to $78.69 a barrel, while global benchmark Brent crude contract advanced 0.7% to $83.50 a barrel. Henry Hub natural-gas futures jumped 2.7% to $2.20 per 1 million BTU.

In corporate news, Allete ( ALE ) to be taken private by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners, in a deal worth roughly $6.2 billion, including debt. Allete ( ALE ) shares were falling 1.6%.