01:32 PM EST, 11/05/2025 (MT Newswires) -- Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the Energy Select Sector SPDR Fund (XLE) adding 1.2%.

The Philadelphia Oil Service Sector Index was climbing 1.4%, and the Dow Jones US Utilities Index was up 0.4%.

Front-month West Texas Intermediate crude oil was declining 1.4% to $59.70 a barrel, and the global benchmark Brent crude contract was falling 1.3% to $63.58 a barrel. Henry Hub natural gas futures were 2.1% lower at $4.25 per 1 million BTU.

In corporate news, Ares Management (ARES) said Wednesday that Ares Alternative Credit funds, together with other Ares-affiliated funds, have closed the acquisition of a 20% stake in Eni's (E) renewable energy unit Plenitude for 2 billion euros ($2.29 billion). Eni shares rose 0.8%.