03:20 PM EDT, 10/16/2024 (MT Newswires) -- Energy stocks were higher late Wednesday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 0.5%.

The Philadelphia Oil Service Sector index was posting a 1.2% increase, and the Dow Jones US Utilities index was adding 1.8%.

Israel's plan to respond to a recent Iranian attack is ready, CNN reported, citing a source familiar with the matter. Israeli officials, including Prime Minister Benjamin Netanyahu, have assured the US that the counterstrike would be limited to military targets rather than oil or nuclear facilities, the report said.

Front-month West Texas Intermediate crude oil shed 0.3% to $70.35 a barrel while the global benchmark Brent crude contract was 0.1% lower at $74.21 a barrel. Henry Hub natural gas futures slumped 4.8% to $2.38 per 1 million BTU.

In corporate news, Altus Power ( AMPS ) shares surged 23%. The company said late Tuesday its board members have been conducting a review of strategic alternatives in a bid to unlock shareholder value and optimize its access to capital.