03:35 PM EDT, 07/16/2026 (MT Newswires) -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.

The Philadelphia Oil Service Sector Index was down 0.5%, and the Dow Jones US Utilities Index was fractionally higher.

Front-month West Texas Intermediate crude oil shed 0.8% to $78.98 a barrel, and the global benchmark Brent crude contract decreased 0.8% to $84.27 a barrel. Henry Hub natural gas futures fell 1.2% to $2.89 per 1 million BTU.

In corporate news, Excelerate Energy ( EE ) shares rose 2.2% after Goldman Sachs initiated coverage of the stock with a buy rating and a $49 price target.