01:41 PM EST, 11/21/2024 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 1% and the Energy Select Sector SPDR Fund (XLE) adding 1.1%.

The Philadelphia Oil Service Sector index climbed 2.5%, and the Dow Jones US Utilities index was 1.4% higher.

Front-month West Texas Intermediate crude oil was rising 1.3% to $69.65 a barrel while the global benchmark Brent crude contract was up 1.2% to $73.71 a barrel. Henry Hub natural gas futures rose 2.4% to $3.27 per 1 million BTU.

US natural gas stocks fell by three billion cubic feet in the week ended Nov. 15, below a one-billion increase expected in a survey compiled by Bloomberg and following an increase of 42 billion cubic feet in the previous week.

In corporate news, Exxon Mobil ( XOM ) said it intends to invest over $200 million to expand its recycling operations in Texas. Exxon shares rose 1.3%.

Oklo ( OKLO ) shares jumped 18% after the company said that Atomic Alchemy, which it plans to acquire in an all-stock deal, has signed a memorandum of understanding with Zeno Power Systems to supply Zeno with strontium-90, americium-241, and other radioisotopes for radioisotope power systems.

Duke Energy ( DUK ) said it has been conducting a pilot project using an electric semitruck for supply chain logistics in North Carolina, marking its first attempt to electrify a commercial vehicle route. Its shares added 0.7%.