03:49 PM EDT, 09/30/2024 (MT Newswires) -- Energy stocks were advancing late Monday afternoon, with the NYSE Energy Sector Index up 0.1% and the Energy Select Sector SPDR Fund (XLE) rising 0.4%.

The Philadelphia Oil Service Sector index eased 0.2%, and the Dow Jones US Utilities index was up 0.1%.

West Texas Intermediate crude oil rose 0.1% to $68.25 a barrel, while global benchmark Brent eased 0.3% to $71.77 a barrel. Henry Hub natural gas futures shed 0.1% to $2.90 per 1 million BTU.

In corporate news, Patterson-UTI Energy ( PTEN ) unit Patterson-UTI TW Holdings and Schlumberger ( SLB ) finalized the terms of the Turnwell Industries joint venture with ADNOC Drilling. Patterson shares added less than 0.1%, and Schlumberger ( SLB ) fell 1.2%.

EnLink Midstream ( ENLC ) is unlikely to get any other buyers after ONEOK ( OKE ) acquires a 43% controlling stake from Global Infrastructure Partners, UBS said in a note Monday. UBS downgraded EnLink Midstream ( ENLC ) to neutral from buy while keeping its $16 price target. EnLink shares shed 0.3% and ONEOK ( OKE ) rose 0.5%.

New Fortress Energy ( NFE ) shares dropped 7.5% after the company said Monday it's delaying its dividend payment until it has reached a deal with noteholders to address near-term maturities and liquidity requirements.

The Federal Trade Commission said Monday it approved a proposed consent order prohibiting Chevron ( CVX ) from appointing Hess (HES) Chief Executive John Hess to its board of directors as part of Chevron's ( CVX ) deal to acquire Hess. Chevron ( CVX ) shares rose 1% and Hess added 1.4%.