01:24 PM EDT, 03/12/2026 (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) climbing 1.7%.

The Philadelphia Oil Service Sector Index was falling 3.1%, and the Dow Jones US Utilities Index was up 1.4%.

In sector news, Brent briefly crossed $100 a barrel on Thursday as worries grew that oil flow disruptions will continue amid an intensifying conflict in the Middle East. US Energy Secretary Chris Wright told CNBC earlier in the day that America was "not ready" to escort oil tankers through the Strait of Hormuz, the world's most important chokepoint for crude flows. Last week, President Donald Trump said that the US would escort tankers through the strait, which Iran has effectively shut.

Front-month West Texas Intermediate crude oil surged 8.7% to $94.63 a barrel, and the global benchmark Brent crude contract jumped 7.9% to $99.26 a barrel. Henry Hub natural gas futures fell 1% to $3.18 per 1 million BTU.

In corporate news, TotalEnergies (TTE) said Thursday it has shut down or is in the process of shutting down production in Iraq, Qatar and UAE offshore, which represents roughly 15% of its total output. TotalEnergies shares were down 0.3%.