01:55 PM EDT, 05/29/2025 (MT Newswires) -- Energy stocks rose Thursday afternoon with the NYSE Energy Sector Index up 0.1% and the Energy Select Sector SPDR Fund (XLE) adding 0.3%.

The Philadelphia Oil Service Sector index rose 0.4%, and the Dow Jones US Utilities index advanced 0.6%.

West Texas Intermediate crude oil fell 1.6% to $60.88 a barrel, and global benchmark Brent dropped 1.3% to $64.04 a barrel.

US natural gas stocks rose by 101 billion cubic feet in the week ended Friday, above the 100 billion increase expected in a survey compiled by Bloomberg and following a gain of 120 billion cubic feet in the previous week.

Henry Hub natural gas futures fell 2% to $3.49 per 1 million BTU.

In sector news, Exxon Mobil ( XOM ) and a number of other major oil and gas companies are facing a climate-change lawsuit claiming wrongful death of an individual who died of hyperthermia, or overheating, the New York Times reported Thursday.

In corporate news, Chevron ( CVX ) is planning to lay off 800 workers in Texas, effective July 15, as part of a global workforce reduction, Reuters reported, citing a notice to the Texas Workforce Commission. Chevron ( CVX ) shares rose 1%.

Exxon Mobil ( XOM ) expressed confidence in the outcome of the arbitration case regarding its contractual dispute over Chevron's ( CVX ) planned acquisition of Hess (HES), media outlets reported Thursday, citing an Exxon executive. Exxon shares added 0.3%.

Zeo Energy ( ZEO ) agreed to buy Heliogen for $10 million in stock. Zeo Energy ( ZEO ) shares surged 91%.

Matador Resources ( MTDR ) and its affiliate San Mateo Midstream announced the startup of the expansion of San Mateo's Marlan cryogenic natural gas processing plant in New Mexico. Matador shares gained 0.2%.