03:28 PM EDT, 07/24/2024 (MT Newswires) -- Energy stocks were edging up late Wednesday afternoon, with the NYSE Energy Sector Index fractionally higher and the Energy Select Sector SPDR Fund (XLE) up 0.2%.

The Philadelphia Oil Service Sector index was dropping 2%, and the Dow Jones US Utilities index was rising 1.2%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 3.1 million barrels in the week ended July 19 following a decrease of 4.2 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 3.7 million barrels after a 4.9-million-barrel decline in the previous week, a larger drop than the 2.8-million-barrel decrease expected in a survey compiled by Bloomberg.

Front-month West Texas Intermediate crude oil rose 0.7% to $77.52 a barrel while the global benchmark Brent advanced 0.7% to $81.57 a barrel. Henry Hub natural gas futures dropped 3.1% to $2.12 per 1 million BTU.

In corporate news, Clean Energy Fuels ( CLNE ) said Wednesday it has started construction on a facility for producing renewable natural gas at South Fork Dairy in Dimmitt, Texas. Clean Energy shares were falling 1.9%.