03:32 PM EDT, 09/10/2025 (MT Newswires) -- Energy stocks were higher late Wednesday afternoon, with the NYSE Energy Sector Index adding 1.6% and the Energy Select Sector SPDR Fund (XLE) rising 1.6%.

The Philadelphia Oil Service Sector index was climbing 1.8%, and the Dow Jones US Utilities index was up 1.6%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, rose by 4.5 million barrels in the week ended Sept. 5 following an increase of 2.9 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose by 3.9 million barrels after a 2.4 million barrel increase in the previous week, compared with the 1.4-million-barrel decrease expected in a survey compiled by Bloomberg.

Front-month West Texas Intermediate crude oil rose 1.9% to $63.81 a barrel, and the global benchmark Brent crude contract advanced 1.9% to $67.65 a barrel. Henry Hub natural gas futures were 2.7% lower at $3.03 per 1 million BTU.

In sector news, the Trump administration is weighing a plan to require large oil refineries to cover roughly half or less of the biofuel blending requirements that were waived for smaller sites, Reuters reported.

In corporate news, Cenovus Energy ( CVE ) won't raise its bid to acquire MEG Energy for cash and stock, despite a higher all-stock offer from Strathcona Resources, Bloomberg reported, citing Cenovus Chief Executive Jon McKenzie. Cenovus shares rose 4.2%.