03:18 PM EDT, 09/11/2024 (MT Newswires) -- Energy stocks were declining late Wednesday afternoon, with the NYSE Energy Sector Index decreasing 0.2% and the Energy Select Sector SPDR Fund (XLE) shedding 0.8%.

The Philadelphia Oil Service Sector index was posting a 0.5% increase, while the Dow Jones US Utilities index was fractionally higher.

US crude oil stocks, including those in the Strategic Petroleum Reserve, rebounded by 1.1 million barrels in the week ended Sept. 6 following a decrease of 5.1 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose by 800,000 barrels after a 6.9-million-barrel drop in the previous week, below the 1.1-million-barrel gain expected in a survey compiled by Bloomberg as of 7:35 am ET.

Front-month West Texas Intermediate crude oil rose 2.2% to $67.17 a barrel, and the global benchmark Brent crude contract advanced 1.9% to $70.53 a barrel. Henry Hub natural gas futures were 1.7% higher at $2.27 per 1 million BTU.

In corporate news, Enlight Renewable Energy ( ENLT ) shares popped 3.9% after the company said Wednesday it has started initial commercial operations at its Atrisco Solar & Energy Storage project outside Albuquerque, New Mexico.