01:30 PM EST, 01/08/2026 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 2.6%.

The Philadelphia Oil Service Sector Index was climbing 3.6%, and the Dow Jones US Utilities Index was up 0.4%.

Front-month West Texas Intermediate crude oil was rising 2.3% to $57.29 a barrel, and the global benchmark Brent crude contract was advancing 2.5% to $61.47 a barrel. Henry Hub natural gas futures fell 3.9% to $3.39 per 1 million BTU.

In corporate news, Chevron ( CVX ) is in talks with the US government to broaden its Venezuelan operating license to boost crude exports, news outlets reported late Wednesday. The US government is also in discussions with other companies involved with Venezuelan oil exports, including Valero Energy ( VLO ) , Exxon Mobil ( XOM ) , and ConocoPhillips ( COP ) , Reuters reported. Chevron ( CVX ) shares rose 2.2%, Valero added 2.3%, Exxon climbed 3.3%, and ConocoPhillips ( COP ) jumped 4.6%.