03:18 PM EDT, 09/16/2024 (MT Newswires) -- Energy stocks rose late Monday afternoon with the NYSE Energy Sector Index advancing 1% and the Energy Select Sector SPDR Fund (XLE) gaining 0.9%.

The Philadelphia Oil Service Sector index increased 2%, and the Dow Jones US Utilities index climbed 0.7%.

Front-month West Texas Intermediate crude oil rose 2.4% to $70.30 a barrel while global benchmark Brent advanced 1.7% to $72.82 a barrel. Henry Hub natural gas futures jumped 3.1% to $2.38 per 1 million BTU.

In corporate news, Exxon Mobil ( XOM ) and Chevron ( CVX ) were among the oil majors getting a legal victory after a federal appeals court dismissed a case brought by consumers alleging the companies colluded with foreign nations and former President Donald Trump to cut production and raise prices. Exxon shares rose 1.3% and Chevron ( CVX ) climbed 0.9%.