01:26 PM EST, 11/18/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1.5% and the Energy Select Sector SPDR Fund (XLE) up 1.4%.

The Philadelphia Oil Service Sector index was posting a 1.6% increase, and the Dow Jones US Utilities index was adding 0.9%.

Front-month West Texas Intermediate crude oil was rising 2.9% to $68.94 a barrel while the global benchmark Brent crude contract was advancing 2.9% to $73.07 a barrel. Henry Hub natural gas futures jumped 3.9% to $2.93 per 1 million BTU.

In corporate news, DTE Energy ( DTE ) said Monday it is investing over $100 million to build three new electric substations across Michigan. Its shares rose 0.6%.