03:29 PM EDT, 10/10/2024 (MT Newswires) -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 1%.

The Philadelphia Oil Service Sector index climbed 1%, and the Dow Jones US Utilities index eased 0.1%.

Front-month West Texas Intermediate crude oil rose 3.9% at $76.12 a barrel while the global benchmark Brent crude contract advanced 4% to $79.63 a barrel.

US natural gas stocks rose by 82 billion cubic feet in the week ended Oct. 4, larger than the 76 billion gain expected in a survey compiled by Bloomberg and following an increase of 55 billion cubic feet in the previous week.

Henry Hub natural gas futures added 0.7% to $2.68 per 1 million BTU.

In corporate news, Cosan ( CSAN ) said in a regulatory filing Thursday that it will not proceed with the initial public offering of shares of its subsidiary Moove Lubricants due to "adverse" market conditions. Cosan ( CSAN ) shares were rising 0.5%.