03:47 PM EDT, 07/17/2025 (MT Newswires) -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index up 0.3% and the Energy Select Sector SPDR Fund (XLE) adding 0.6%.

The Philadelphia Oil Service Sector index climbed 1.6%, and the Dow Jones US Utilities index was advancing 0.6%.

Front-month West Texas Intermediate crude oil rose 2% to $67.68 a barrel, and the global benchmark Brent crude contract was advancing 1.6% to $69.61 a barrel. Henry Hub natural gas futures eased 0.5% to $3.53 per 1 million BTU.

US natural gas stocks rose by 46 billion cubic feet in the week ended July 11, slightly larger than the 45 billion cubic foot rise expected in a Bloomberg survey and following an increase of 53 billion cubic feet in the previous week.

In corporate news, Chevron ( CVX ) is shifting its Permian Basin strategy from swift expansion to steady cash generation as it nears its long-term production target of 1 million barrels of oil equivalent a day in the region, a move expected to generate $5 billion in annual free cash flow by 2027, Bloomberg reported, citing Bruce Niemeyer, president of the company's shale business. Chevron ( CVX ) shares were rising 1.2%.

A coalition of US solar panel makers, including First Solar ( FSLR ) , asked the Commerce Department to impose antidumping and countervailing duties on imports from Indonesia, India, and Laos, Reuters reported. First Solar ( FSLR ) shares climbed 4%.

Helix Energy Solutions ( HLX ) shares gained 4.2% after the company said it was selected as a service provider for Danish power cables manufacturer NKT's T3600 Subsea Trencher under a four-year agreement.

BW LPG ( BWLP ) shares rose 1.4% after it said it closed two financing deals worth $595 million to back fleet renewal and cut funding costs.