01:22 PM EDT, 10/23/2025 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 1.8% and the Energy Select Sector SPDR Fund (XLE) up 1.6%.

The Philadelphia Oil Service Sector Index was climbing 3.6%, while the Dow Jones US Utilities Index was easing 0.2%.

The Trump Administration late Wednesday imposed new sanctions on Russia's two largest oil producers, Rosneft and Lukoil, blocking any dealings with the two companies. The EU also imposed new sanctions, barring imports of Russian liquefied natural gas. India made fresh promises to end the purchase of Russian oil.

Front-month West Texas Intermediate crude oil jumped 5.7% to $61.86 a barrel, and the global benchmark Brent crude contract climbed 5.5% to $66.03 a barrel. Henry Hub natural gas futures fell 1.5% to $3.40 per 1 million BTU.

In corporate news, Energy Vault ( NRGV ) shares jumped past 6% after it said Thursday it acquired and plans to develop SOSA Energy Center, a 150 MW/300 MWh battery energy storage system in Madison County, Texas. The project was originally developed by Shell (SHEL) unit Savion, Energy Vault ( NRGV ) said. Shell shares were up 1.5%.