01:49 PM EDT, 07/25/2024 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 1.3% and the Energy Select Sector SPDR Fund (XLE) up 1.9%.

The Philadelphia Oil Service Sector index popped 4%, while the Dow Jones US Utilities index shed 0.5%.

Front-month West Texas Intermediate crude oil was rising 0.7% to $78.10 a barrel while the global benchmark Brent crude contract was advancing 0.4% to $82.04 a barrel.

US natural gas stocks rose by 22 billion cubic feet in the week ended July 19, above the 11 billion increase expected in a survey compiled by Bloomberg.

Henry Hub natural gas futures slumped 1.8% to $2.08 per 1 million BTU.

In corporate news, Helmerich & Payne (HP) shares jumped past 10% after the company struck a deal to buy drilling firm KCA Deutag International and reported better-than-expected fiscal Q3 results.

Oceaneering International ( OII ) shares were adding nearly 11% in recent Thursday trading, a day after the company reported a year-over-year increase in its Q2 results.

TotalEnergies (TTE) shares rose 1.1% in recent Thursday trading after the company's Q2 revenue beat estimates.