03:45 PM EDT, 08/22/2024 (MT Newswires) -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index edging up 0.2% and the Energy Select Sector SPDR Fund (XLE) adding 0.4%.

The Philadelphia Oil Service Sector Index was posting a 0.7% decline, and the Dow Jones US Utilities Index was down 0.3%.

Front-month West Texas Intermediate crude oil rose 1.3% to $72.85 a barrel while the global benchmark Brent crude contract advanced 1.3% to $77.01 a barrel.

US natural gas stocks rose by 35 billion cubic feet in the week ended Aug. 16, above the 25 billion increase expected in a survey compiled by Bloomberg and following a decrease of 6 billion cubic feet in the previous week.

Henry Hub natural gas futures tumbled 5.5% to $2.06 per 1 million BTU.

In corporate news, SM Energy ( SM ) shares added 0.3%. The company expects to complete the acquisition of Uinta Basin oil and gas assets from XCL Resources on Oct. 1 after a 30-day review period under the Hart-Scott-Rodino antitrust act expired Wednesday.

SolarBank ( SUUN ) shares rose 0.6% after the company said it plans to develop a 6.4-megawatt DC ground mount solar power project in East Bloomfield, New York.

PG&E ( PCG ) is working to stem an uptick in fires ignited by its power lines ahead of the period when wildfire risk peaks and has established a task force to evaluate and eradicate such risks, the Wall Street Journal reported Thursday. PG&E ( PCG ) shares were shedding 0.3%.

Halliburton ( HAL ) was hit by a cyberattack on Wednesday that seemed to disrupt operations at the oilfield services firm's north Houston campus and some global connectivity networks, Reuters reported the same day. Halliburton ( HAL ) shares were down 0.3%.