03:22 PM EDT, 08/22/2024 (MT Newswires) -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index edging up 0.1% and the Energy Select Sector SPDR Fund (XLE) adding 0.5%.

The Philadelphia Oil Service Sector Index was posting a 0.5% decline, and the Dow Jones US Utilities Index was down 0.4%.

Front-month West Texas Intermediate crude oil rose 1.3% to $72.86 a barrel while the global benchmark Brent crude contract advanced 1.3% to $77.04 a barrel.

US natural gas stocks rose by 35 billion cubic feet in the week ended Aug. 16, above the 25 billion increase expected in a survey compiled by Bloomberg and following a decrease of 6 billion cubic feet in the previous week.

Henry Hub natural gas futures tumbled 5.5% to $2.06 per 1 million BTU.

In corporate news, SM Energy ( SM ) shares added nearly 1%. The company expects to complete the acquisition of Uinta Basin oil and gas assets from XCL Resources on Oct. 1 after a 30-day review period under the Hart-Scott-Rodino antitrust act expired Wednesday.