01:29 PM EDT, 06/05/2024 (MT Newswires) -- Energy stocks eased Wednesday afternoon with the NYSE Energy Sector Index little changed, paring earlier losses, and the Energy Select Sector SPDR Fund (XLE) down 0.1%.

The Philadelphia Oil Service Sector index rose 0.3%, and the Dow Jones US Utilities index fell 0.9%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, rose 2.1 million barrels in the week ended May 31 following a decrease of 3.7 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose 1.2 million after a 4.2 million decline in the previous week, compared with the 2.3 million decrease expected in a survey compiled by Bloomberg as of 7:40 am ET.

West Texas Intermediate crude oil rose 1% to $73.98 a barrel, while global benchmark Brent crude advanced 1.1% to $78.35 a barrel.

Henry Hub natural gas futures jumped 5% to $2.72 per 1 million BTU.

In corporate news, Suncor Energy ( SU ) was given notice by environmental justice groups for an impending lawsuit under the US Clean Air Act for repeated violations at its refinery in Commerce City, Colorado, nonprofit environmental law organization Earthjustice said. Suncor shares fell 0.2%.