03:25 PM EDT, 07/01/2024 (MT Newswires) -- Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index up 0.2% and the Energy Select Sector SPDR Fund (XLE) up fractionally.

The Philadelphia Oil Service Sector index was posting a 1.6% drop, and the Dow Jones US Utilities index was shedding 0.7%.

Front-month West Texas Intermediate crude oil rose 2.3% to $83.40 a barrel while the global benchmark Brent crude contract advanced 2% to $86.70 a barrel. Henry Hub natural gas futures tumbled 4.6% to $2.48 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, Nano Nuclear Energy ( NNE ) shares soared 20% after it said Monday that it signed a memorandum of understanding with Curio Solutions to improve Curio's nuclear fuel recycling capabilities.