01:34 PM EDT, 06/17/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.3% and the Energy Select Sector SPDR Fund (XLE) up 0.4%.

The Philadelphia Oil Service Sector index was posting a 2% increase, and the Dow Jones US Utilities index was shedding 0.6%.

Front-month West Texas Intermediate crude oil was rising 1.6% to $79.69 a barrel while the global benchmark Brent crude contract was advancing 1.3% to $83.71 a barrel. Henry Hub natural gas futures dropped 3% to $2.80 per 1 million BTU.

In corporate news, ONEOK ( OKE ) shares added 1.6% after it said Monday it completed its acquisition of a system of natural gas liquids pipelines from Easton Energy for about $280 million.