01:31 PM EST, 11/04/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1.3% and the Energy Select Sector SPDR Fund (XLE) climbing 1.5%.

The Philadelphia Oil Service Sector index spiked 2%, while the Dow Jones US Utilities index was falling 1.2%.

Front-month West Texas Intermediate crude oil was rising 2.8% to $71.45 a barrel while the global benchmark Brent crude contract was advancing 2.5% to $75.01 a barrel. Henry Hub natural gas futures were climbing 4.1% to $2.77 per 1 million BTU.

In corporate news, Talen Energy ( TLN ) shares tumbled 4% after a Federal Energy Regulatory Commission decision, rejecting an amended interconnection agreement to increase the capacity of an Amazon.com (AMZN) data center connected to Talen's Susquehanna nuclear plant in Pennsylvania.