01:28 PM EDT, 09/16/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each adding 0.8%.

The Philadelphia Oil Service Sector index climbed 1.6%, and the Dow Jones US Utilities index was up 0.9%.

Front-month West Texas Intermediate crude oil was rising 1.8% to $69.87 a barrel while the global benchmark Brent crude contract was advancing 1.3% to $72.58 a barrel. Henry Hub natural gas futures were gaining 2.7% to $2.37 per 1 million BTU.

In corporate news, BP (BP) has agreed to sell a non-controlling stake in BP Pipelines TAP to Apollo Global Management ( APO ) in a deal valued at $1 billion. BP shares were rising 0.9% and Apollo was adding 1.5%.