03:21 PM EDT, 05/09/2024 (MT Newswires) -- Energy stocks were rising late Thursday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each adding 1.2%.

The Philadelphia Oil Service Sector index climbed 1.4%, and the Dow Jones US Utilities index gained 1.1%.

Front-month West Texas Intermediate crude oil was rising 0.6% to $79.46 a barrel, while global benchmark Brent was advancing 0.6% to $84.07 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 five-year average.

Henry Hub natural gas futures jumped 5.3% to $2.30 per 1 million BTU.

In corporate news, BP's (BP) electric vehicle charging unit is eager to buy supercharging sites across the US from Tesla, Bloomberg reported Thursday. BP plans to spend $1 billion by 2030 -- $500 million in the next two to three years -- to install more than 3,000 charging points across the country, the report said. BP shares were rising 1.5%.