03:29 PM EDT, 06/05/2024 (MT Newswires) -- Energy stocks edged higher late Wednesday afternoon with the NYSE Energy Sector Index increasing 0.2% and the Energy Select Sector SPDR Fund (XLE) up 0.1%.

The Philadelphia Oil Service Sector index rose 0.3%, and the Dow Jones US Utilities index fell 1%.

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 1.3% to $74.20 a barrel, while global benchmark Brent crude advanced 1.2% to $78.47 a barrel. Henry Hub natural gas futures jumped 7.5% to $2.78 per 1 million BTU.

In corporate news, Williams (WMB) said Wednesday it won a permanent court injunction to halt Energy Transfer ( ET ) from interfering in a pipeline project in Louisiana. Williams shares rose 0.5%, and Energy Transfer ( ET ) climbed 0.1%.