03:29 PM EDT, 07/15/2024 (MT Newswires) -- Energy stocks were advancing late Monday afternoon, with the NYSE Energy Sector Index rising 1.6% and the Energy Select Sector SPDR Fund (XLE) adding 2.2%.

The Philadelphia Oil Service Sector index jumped 4.6%, while the Dow Jones US Utilities index was falling 2.2%.

Front-month West Texas Intermediate crude oil declined 0.3% to $81.99 a barrel while the global benchmark Brent crude contract decreased 0.1% to $84.91 a barrel. Henry Hub natural gas futures tumbled 7.4% to $2.16 per 1 million BTU.

In corporate news, Devon Energy ( DVN ) could post another "strong operational quarter" as it continues to execute its business plan from Q1, UBS said in an earnings preview emailed Monday. UBS kept its neutral rating and $55 price target on the stock. Devon shares popped 4.2%.