01:30 PM EDT, 10/31/2024 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index up 0.3% and the Energy Select Sector SPDR Fund (XLE) rising 0.6%.

The Philadelphia Oil Service Sector index was posting a 0.8% increase, and the Dow Jones US Utilities index was adding 1.5%.

Front-month West Texas Intermediate crude oil was rising 0.8% to $69.16 a barrel while the global benchmark Brent crude contract was advancing 0.8% to $73.14 a barrel.

US natural gas stocks rose by 78 billion cubic feet in the week ended Oct. 25, smaller than the 83 billion increase expected in a survey compiled by Bloomberg and following an increase of 80 billion cubic feet in the previous week.

Henry Hub natural gas futures dropped 4.6% to $2.71 per 1 million BTU.

In corporate news, Peabody Energy ( BTU ) shares jumped past 8% after the company reported quarterly results that exceeded analysts' forecasts.