01:32 PM EDT, 05/09/2024 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 0.9%.

The Philadelphia Oil Service Sector index climbed 1.2%, and the Dow Jones US Utilities index was up 0.9%.

Front-month West Texas Intermediate crude oil was rising 0.3% to $79.21 a barrel while the global benchmark Brent crude contract was advancing 0.2% to $83.77 a barrel.

US natural gas stocks rose by 79 billion cubic feet in the week ended May 3, a smaller increase than the 87 billion gain expected in a survey compiled by Bloomberg as of 7:50 am ET and following an increase of 59 billion cubic feet in the previous week. Stocks at 2.563 trillion cubic feet are 21% higher than in the comparable week a year ago and 33.3% above their 5-year average.

Henry Hub natural gas futures jumped 4.6% to $2.29 per 1 million BTU.

In corporate news, Constellation Energy ( CEG ) reported Q1 adjusted operating earnings Thursday of $1.82 per diluted share, up from $0.78 a year earlier. Analysts polled by Capital IQ expected $1.29. Operating revenue for the quarter was $6.16 billion, compared with $7.57 billion a year earlier. Three analysts surveyed by Capital IQ expected $6.78 billion. Its shares were rising 1.9%.