01:48 PM EDT, 10/23/2025 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 1.8% and the Energy Select Sector SPDR Fund (XLE) adding 1.6%.

The Philadelphia Oil Service Sector Index was climbing 3.6%, while the Dow Jones US Utilities Index was easing 0.2%.

In sector news, the Trump Administration late Wednesday imposed new sanctions on Russia's two largest oil producers, Rosneft and Lukoil, blocking any dealings with the two companies. The EU also imposed new sanctions, barring imports of Russian liquefied natural gas. India made fresh promises to end the purchase of Russian oil.

Separately, US natural gas stocks rose by 87 billion cubic feet in the week ended Oct. 17, above the 83 billion increase expected in a survey compiled by Bloomberg.

Front-month West Texas Intermediate crude oil jumped 5.7% to $61.86 a barrel, and the global benchmark Brent crude contract climbed 5.5% to $66.03 a barrel. Henry Hub natural gas futures fell 1.5% to $3.40 per 1 million BTU.

In corporate news, Energy Vault ( NRGV ) shares jumped past 6% after it said Thursday it acquired and plans to develop SOSA Energy Center, a 150 MW/300 MWh battery energy storage system in Madison County, Texas. The project was originally developed by Shell (SHEL) unit Savion, Energy Vault ( NRGV ) said. Shell shares were up 1.7%.

Valero Energy ( VLO ) shares popped 7% after the company reported Q3 adjusted earnings and revenue that exceeded analysts' expectations.

Patterson-UTI Energy ( PTEN ) stock was up over 7% after it reported a narrower Q3 net loss.