03:55 PM EDT, 10/15/2025 (MT Newswires) -- Energy stocks edged higher late Wednesday afternoon, with the NYSE Energy Sector Index up 0.2% and the Energy Select Sector SPDR Fund (XLE) fractionally higher.

The Philadelphia Oil Service Sector Index rose 1.2%, and the Dow Jones US Utilities Index added 1.3%.

Front-month West Texas Intermediate crude oil declined 0.3% to $58.50 a barrel, and the global benchmark Brent crude contract decreased 0.3% to $62.17 a barrel. Henry Hub natural gas futures were little changed at $3.03 per 1 million BTU.

In corporate news, Cenovus Energy's ( CVE ) sweetened takeover offer for MEG Energy is facing opposition from three MEG shareholders who claim the board failed to prioritize investor interests, Bloomberg reported, citing a letter from Smead Capital Management, one of the investors. Cenovus shares rose 0.3%.

Vivakor ( VIVK ) shares surged 59% said Wednesday it signed a non-binding term sheet with an undisclosed wholesaler to create a $40 million commodity intermediation credit facility to support its crude oil trading platform.

Sable Offshore ( SOC ) shares tumbled 21% after it said Wednesday that the Santa Barbara Superior Court has indicated in a tentative ruling that it will deny the company's claims against the California Coastal Commission.

Eletrobras (EBR) has agreed to sell its stake in state-run Eletronuclear to J&F's energy unit Ambar Energia for 535 million reais ($98 million), Reuters reported. Eletrobras rose 2.6%.