02:10 PM EDT, 10/29/2025 (MT Newswires) -- Energy stocks advanced Wednesday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 1.1%.

The Philadelphia Oil Service Sector Index gained 2.6%, and the Dow Jones US Utilities Index climbed 0.1%.

West Texas Intermediate crude oil rose 0.7% to $60.55 a barrel, and global benchmark Brent advanced 0.9% to $64.96 a barrel. Henry Hub natural gas futures fell 0.5% to $3.33 per 1 million BTU.

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 6.3 million barrels in the week ended Friday following a decrease of 100,000 in the previous week. Excluding inventories in the SPR, commercial crude oil stocks decreased by 6.9 million after a decline of 1 million in the previous week, compared with the decrease of 899,000 expected in a survey compiled by Bloomberg.

In corporate news, Valero Energy ( VLO ) said Chief Financial Officer Jason Fraser will retire, effective Dec. 31. He will be succeeded by Homer Bhullar, vice president of investor relations and finance. Valero shares rose 1.2%.

National Energy Services Reunited ( NESR ) shares jumped 14% after the company secured a multibillion- dollar contract with Saudi Aramco to provide completion and unconventional gas development services over a five-year term.

Phillips 66 (PSX) shares climbed 3% after the company reported higher Q3 adjusted earnings.

ProPetro Holding ( PUMP ) shares surged 46% after the company reported a narrower Q3 loss, while revenue beat estimates by analysts.