03:24 PM EDT, 05/30/2024 (MT Newswires) -- Energy stocks rose late Thursday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) both up 0.3%.

The Philadelphia Oil Service Sector Index added 0.5%, and the Dow Jones US Utilities Index climbed 1.1%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 3.7 million barrels in the week ended May 24, following an increase of 2.8 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 4.2 million after a gain of 1.8 million in the previous week, a larger drop than the decrease of 1.8 million expected in a survey compiled by Bloomberg.

West Texas Intermediate crude oil declined 1.6% to $78 a barrel, while global benchmark Brent crude fell 1.9% to $82.03 a barrel.

US natural gas stocks rose by 84 billion cubic feet in the week ended May 24, larger than the 77 billion increase expected in a survey compiled by Bloomberg and following an increase of 78 billion in the previous week. Stocks at 2.795 trillion rose almost 16% from a year earlier and are 26.5% above the five-year average.

Henry Hub natural gas futures fell 3.6% to $2.57 per 1 million BTU.

In corporate news, Ameren ( AEE ) shares rose 1.4% as Barclays upgraded the company to overweight from equal weight and raised the price target to $77 from $73.