03:23 PM EDT, 08/15/2024 (MT Newswires) -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index rising 1.1% and the Energy Select Sector SPDR Fund (XLE) advancing 1.2%.

The Philadelphia Oil Service Sector Index climbed 2.1%, while the Dow Jones US Utilities index was up 0.2%.

Front-month West Texas Intermediate crude rose 1.3% to $78 a barrel while the global benchmark Brent crude contract advanced 1.4% to $80.89 a barrel. Henry Hub natural-gas futures fell 1.1% to $2.19 per 1 million BTU.

US natural gas stocks fell by 6 billion cubic feet in the week ended Aug. 9, compared with 1 billion cubic feet increase expected in a survey compiled by Bloomberg and following an increase of 21 billion cubic feet in the previous week. Stocks at 3.264 trillion cubic feet were 6.8% higher than in the comparable week a year ago and 13% above their 5-year average.

In corporate news, Helmerich & Payne (HP) shares rose 1.7% after it said Thursday it has obtained a $400 million term loan.