01:57 PM EST, 12/23/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each up about 0.3%.

The Philadelphia Oil Service Sector index was adding 0.9%, and the Dow Jones US Utilities index was fractionally lower.

Front-month West Texas Intermediate crude oil was declining 0.5% to $69.09 a barrel, and the global benchmark Brent crude contract was down 0.8% to $72.39 a barrel. Henry Hub natural gas futures fell 2.8% to $3.64 per 1 million BTU.

In corporate news, Lithium Americas ( LAC ) shares jumped 5% after the firm said it closed its joint venture with General Motors (GM) to fund, develop and operate the Thacker Pass lithium project in Humboldt County, Nevada.

Vermilion Energy ( VET ) shares shed 0.9% after the company said it has agreed to buy Westbrick Energy for about $1.08 billion.