01:42 PM EDT, 07/01/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.4% and the Energy Select Sector SPDR Fund (XLE) up 0.3%.

The Philadelphia Oil Service Sector index was posting a 1.1% decline, and the Dow Jones US Utilities index was shedding 0.4%.

Front-month West Texas Intermediate crude oil was rising 1.9% to $83.10 a barrel while the global benchmark Brent crude contract was advancing 1.6% to $86.36 a barrel. Henry Hub natural gas futures tumbled 3.8% to $2.50 per 1 million BTU.

In sector news, the number of oil rigs in the US fell by six for the week ended June 28, according to data compiled by energy services company Baker Hughes (BKR).

In corporate news, Eni (E) plans to raise 4 billion euros ($4.3 billion) from selling assets in its global upstream business, Bloomberg reported Monday. Eni shares rose 1.5%.