01:12 PM EDT, 07/16/2026 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index increasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.

The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index was fractionally lower.

Front-month West Texas Intermediate crude oil shed 0.5% to $79.24 a barrel, and the global benchmark Brent crude contract decreased 0.3% to $84.67 a barrel. Henry Hub natural gas futures fell 2.7% to $2.85 per 1 million BTU.

In corporate news, Chevron ( CVX ) is expected to sign accords with Iraq on Friday that will further the company's negotiations about investing in large oil fields, Bloomberg reported Thursday, citing a senior company executive. Chevron ( CVX ) shares were up 1.2%.