01:47 PM EDT, 07/23/2026 (MT Newswires) -- Energy stocks rose Thursday afternoon with the NYSE Energy Sector Index gaining 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.

The Philadelphia Oil Service Sector Index climbed 0.4%, and the Dow Jones US Utilities Index increased 0.2%.

Brent crude futures topped $100 a barrel for the first time since May after the US-Iran conflict widened, with Yemen's Iran-aligned Houthis claiming attacks on two Saudi Arabian oil tankers in the Red Sea, news outlets reported.

West Texas Intermediate crude oil jumped 6.6% to $92.52 a barrel, and global benchmark Brent surged 7.3% to $100.91. Henry Hub natural gas futures rose 0.3% to $2.93 per 1 million BTU.

In sector news, US natural gas stocks rose by 32 billion cubic feet in the week ended July 17, a smaller increase than the 34-billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 41 billion cubic feet in the previous week.

In corporate news, Ares Management (ARES) received clearance from the European Commission to acquire joint control of Eni Plenitude alongside parent Eni (E), the EU's competition watchdog said Thursday. Eni shares rose 2.1%.

Matador Resources ( MTDR ) agreed to buy Paloma Permian, a portfolio company of EnCap Investments, for $1.28 billion. Matador shares fell 4.6%.

Equinor ( EQNR ) is set to benefit from a boom in commodity prices as oil and gas market disruptions provide the sector with material tailwinds, RBC Capital Markets analysts said in a Thursday note. RBC upgraded the stock's rating to sector perform from underperform. Equinor ( EQNR ) shares rose 3.7%.