01:45 PM EDT, 05/09/2024 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund ( XLE ) each rising 0.9%.

The Philadelphia Oil Service Sector index climbed 1.2%, and the Dow Jones US Utilities index was up 0.9%.

Front-month West Texas Intermediate crude oil was rising 0.3% to $79.21 a barrel while the global benchmark Brent crude contract was advancing 0.1% to $83.67 a barrel.

US natural gas stocks rose by 79 billion cubic feet in the week ended May 3, a smaller increase than the 87 billion gain expected in a survey compiled by Bloomberg as of 7:50 am ET and following an increase of 59 billion cubic feet in the previous week. Stocks at 2.563 trillion cubic feet are 21% higher than in the comparable week a year ago and 33.3% above their 5-year average.

Henry Hub natural gas futures jumped 4.6% to $2.29 per 1 million BTU.

In corporate news, Constellation Energy ( CEG ) reported Q1 adjusted operating earnings Thursday of $1.82 per diluted share, up from $0.78 a year earlier. Analysts polled by Capital IQ expected $1.29. Operating revenue for the quarter was $6.16 billion, compared with $7.57 billion a year earlier. Three analysts surveyed by Capital IQ expected $6.78 billion. Its shares were rising 1.7%.

Clearway Energy ( CWEN/A ) reported a Q1 net loss Thursday of $0.02 per share, compared with breakeven earnings a year earlier. Two analysts polled by Capital IQ expected a loss of $0.19. Its shares jumped 5.9%.

Allete ( ALE ) reported Q1 earnings Thursday of $0.88 per diluted share, down from $1.02 a year earlier. Five analysts surveyed by Capital IQ expected $1.07. Allete ( ALE ) shares were fractionally higher.