03:22 PM EDT, 08/19/2024 (MT Newswires) -- Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 0.7% and the Energy Select Sector SPDR Fund (XLE) adding 0.6%.

The Philadelphia Oil Service Sector Index increased 0.3%, and the Dow Jones US Utilities Index was up 0.5%.

Front-month West Texas Intermediate crude oil dropped 3% to $74.32 a barrel while the global benchmark Brent crude contract fell 2.4% to $77.76 a barrel. Henry Hub natural gas futures jumped 5.1% to $2.23 per 1 million BTU.

In corporate news, New Fortress Energy ( NFE ) shares rose 1.5% after it said Monday its Fast LNG 1 unit in Mexico resumed production after a scheduled maintenance outage.