01:39 PM EST, 12/09/2024 (MT Newswires) -- Energy stocks climbed Monday afternoon with the NYSE Energy Sector Index rising 1.1% and the Energy Select Sector SPDR Fund (XLE) up 0.5%.

The Philadelphia Oil Service Sector index climbed 1.3%, and the Dow Jones US Utilities index shed 1.1%.

West Texas Intermediate crude oil advanced 2% to $68.56 a barrel, while global benchmark Brent advanced 1.7% to $72.32 a barrel. Henry Hub natural gas futures gained 3.8% to $3.19 per 1 million BTU.

In corporate news, California Resources ( CRC ) 's Carbon TerraVault unit will develop Net Power's ( NPWR ) ultra-low emission power plants in California under a memorandum of understanding. California Resources ( CRC ) shares jumped 7%, and Net Power ( NPWR ) added 1%.

Enphase Energy ( ENPH ) shares surged 7.3% after the company said owners of Enphase IQ batteries will be able to participate in NextEnergy's tariff program in the Netherlands under a new collaboration between the companies.

Eni (E) said a fire broke out at its fuel depot in Calenzano near Florence, Italy, but didn't affect its fuel storage tanks. Eni shares rose 1.1%.