03:50 PM EDT, 04/04/2024 (MT Newswires) -- Energy stocks were declining late Thursday afternoon, with the NYSE Energy Sector Index down 0.2% and the Energy Select Sector SPDR Fund (XLE) shedding 0.4%.

The Philadelphia Oil Service Sector Index fell 1.4%, while the Dow Jones US Utilities Index was down 0.7%.

Front-month West Texas Intermediate crude oil was rising 1.4% to $86.63 a barrel, while global benchmark Brent was adding 1.6% to $90.80 a barrel.

US natural gas stocks declined by 37 billion cubic feet in the week ended March 29, a smaller drop than the 42 billion decrease expected in a survey compiled by Bloomberg, and following a decrease of 36 billion cubic feet in the previous week.

Henry Hub natural gas futures slumped 3.6% to $1.77 per 1 million BTU.

In corporate news, FuelCell Energy ( FCEL ) said Thursday that it has amended its joint development deal with ExxonMobil's (XOM) ExxonMobil Technology and Engineering unit. FuelCell shares were steady and Exxon was up 0.9%.

Public Service Enterprise ( PEG ) unit PSEG Nuclear said Thursday it has notified the Nuclear Regulatory Commission of its plan to seek 20-year license renewals for its three nuclear plants in southern New Jersey. Public Service Enterprise ( PEG ) shares were down 0.8%.

Petrobras (PBR) Chief Executive Jean Paul Prates is seeking to shore up support from Brazilian President Luiz Inacio Lula da Silva to continue in his position but may leave the company if he is unable to do so, according to media reports Thursday. Petrobras shares were shedding 0.3%.

Riley Exploration Permian ( REPX ) shares plunged 16.7% after it said Thursday it has priced a public offering of 2.1 million shares at $27 each.