01:46 PM EDT, 04/01/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index adding 0.6% and the Energy Select Sector SPDR Fund (XLE) up 0.8%.

The Philadelphia Oil Service Sector index was gaining 1.2%, while the Dow Jones US Utilities index was shedding 1%.

Front-month West Texas Intermediate crude oil was rising 0.9% to $83.93 a barrel while the global benchmark Brent crude contract was advancing 0.7% to $87.62 a barrel. Henry Hub natural gas futures jumped 4% to $1.83 per 1 million BTU.

In corporate news, Ballard Power Systems ( BLDP ) shares jumped 15.5% after it said Monday it signed a long-term supply agreement with bus maker Solaris Bus & Coach to supply 1,000 hydrogen fuel cell engines through 2027 across Europe.

APA (APA) shares rose 2% after it said Monday it has completed its acquisition of Callon Petroleum ( CPE ) . Shareholders of both companies approved the transaction at special meetings on Wednesday. Callon was up 1.8%.

Baytex Energy ( BTE ) shares added 2.2% as it said Monday it completed a $575 million private offering of senior notes due 2032.