01:48 PM EDT, 06/06/2024 (MT Newswires) -- Energy stocks rose Thursday afternoon, with the NYSE Energy Sector Index adding 0.3% and the Energy Select Sector SPDR Fund (XLE) up 0.1%.

The Philadelphia Oil Service Sector index climbed 0.7%, and the Dow Jones US Utilities index shed 0.8%.

West Texas Intermediate crude oil rose 2.1% to $75.63 a barrel, while global benchmark Brent crude advanced 1.9% to $79.88 a barrel.

US natural gas stocks rose by 98 billion cubic feet in the week ended May 31, above the 92 billion gain expected in a survey compiled by Bloomberg as of 7:40 am ET and following an increase of 84 billion in the previous week. Stocks at 2.893 trillion rose 15% from a year earlier and gained 25% versus the five-year average.

Henry Hub natural gas futures climbed 1.1% to $2.79 per 1 million BTU.

In corporate news, Weatherford International ( WFRD ) said the drilling-services contract with Bapco Upstream, a Bapco Energies subsidiary, will be replaced with a new five-year contract. Weatherford shares were little changed.

Dorian LPG ( LPG ) fell more than 11% after it priced its public offering of 2 million common shares at $44.50 each.

Energy Transfer ( ET ) has filed a registration statement covering the potential sale of several securities from time to time. Its shares were up 0.1%.