03:47 PM EDT, 07/15/2024 (MT Newswires) -- Energy stocks advanced late Monday afternoon with the NYSE Energy Sector Index rising 1.6% and the Energy Select Sector SPDR Fund (XLE) adding 2.1%.

The Philadelphia Oil Service Sector index jumped 4.5%, while the Dow Jones US Utilities index fell 1.7%.

West Texas Intermediate crude oil declined 0.3% to $81.99 a barrel, while global benchmark Brent decreased 0.1% to $84.91 a barrel. Henry Hub natural gas futures tumbled 7.4% to $2.16 per 1 million BTU.

In corporate news, Devon Energy ( DVN ) may post another "strong" operational quarter in Q2, continuing to execute its business plan from Q1, UBS Securities said. UBS kept its neutral rating and $55 price target on the stock. Devon shares jumped 3.9%.

CenterPoint Energy ( CNP ) shares tumbled 6.9% after Texas Gov. Greg Abbott demanded an investigation into the company's "inability to restore power" in the Houston area after Hurricane Beryl made landfall.

Trio Petroleum ( TPET ) shares added 2%. The company appointed Robin Ross as chief executive officer, expanding his role after he recently rejoined the company as board chair.

Ocean Power Technologies ( OPTT ) rose 6.9% after the company won a contract for the immediate delivery of a PowerBuoy in the Middle East.