03:26 PM EDT, 07/25/2024 (MT Newswires) -- Energy stocks rose late Thursday afternoon with the NYSE Energy Sector Index adding 1.1% and the Energy Select Sector SPDR Fund (XLE) gaining 1.8%.

The Philadelphia Oil Service Sector index jumped 3.9%, while the Dow Jones US Utilities index fell 0.8%.

West Texas Intermediate crude oil rose 0.8% to $78.24 a barrel, while global benchmark Brent advanced 0.7% to $82.30 a barrel.

US natural gas stocks rose 22 billion cubic feet in the week Friday, above the 11 billion increase expected in a survey compiled by Bloomberg.

Henry Hub natural gas futures slumped 3.5% to $2.04 per 1 million BTU.

In corporate news, Occidental Petroleum ( OXY ) is close to reaching an agreement to sell its Barilla Draw assets in Texas to Permian Resources ( PR ) for an estimated $1 billion, Reuters reported. Occidental shares added 1.1% and Permian gained 1%.