01:43 PM EDT, 09/16/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index adding 0.9% and the Energy Select Sector SPDR Fund (XLE) up 0.8%.

The Philadelphia Oil Service Sector index climbed 1.7%, and the Dow Jones US Utilities index was up 0.8%.

Front-month West Texas Intermediate crude oil was rising 1.8% to $69.87 a barrel while the global benchmark Brent crude contract was advancing 1.5% to $72.72 a barrel. Henry Hub natural gas futures were gaining 2.7% to $2.37 per 1 million BTU.

In corporate news, BP (BP) has agreed to sell a non-controlling stake in BP Pipelines TAP to Apollo Global Management ( APO ) in a deal valued at $1 billion. BP shares were rising 0.9% and Apollo was adding 1.7%.

FirstEnergy ( FE ) shares were shedding 0.5% after it said Monday its FirstEnergy Pennsylvania Electric unit has reached a $225 million settlement in its base rate review, expanding bill assistance for low-income residential customers.

Dorchester Minerals ( DMLP ) announced acquisitions of mineral, royalty and overriding royalty interests across 14 counties in New Mexico and Texas and in Colorado from unrelated third parties. Dorchester shares gained 1.6%.