03:44 PM EDT, 09/05/2024 (MT Newswires) -- Energy stocks declined late Thursday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) both down 0.5%.

The Philadelphia Oil Service Sector index shed 0.4%, and the Dow Jones US Utilities index eased 0.1%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 5.1 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 decrease of 800,000 in the previous week, compared with the drop of 300,000 expected in a survey compiled by Bloomberg.

West Texas Intermediate crude oil rose 0.2% to $69.31 a barrel, while global benchmark Brent added 0.2% to $72.84 a barrel.

US natural gas stocks rose by 13 billion cubic feet in the week ended Friday, below the gain of 27 billion expected in a survey compiled by Bloomberg and following an increase of 35 billion in the previous week.

Henry Hub natural gas futures jumped 5.6% to $2.26 per 1 million BTU.

In corporate news, Exxon Mobil ( XOM ) aims to launch its first US Gulf Coast carbon capture project next year, subject to regulatory approval for the injection wells, said Dan Ammann, president of Exxon's division for low carbon solutions. Exxon shares shed 0.6%.

Piedmont Lithium ( PLL ) shares slumped 4.6% after the company said it withdrew its loan applications with the US Department of Energy's Loan Programs Office intended for Carolina and Tennessee lithium projects.

Plug Power ( PLUG ) received $10 million from the US Department of Energy to lead the development of an advanced hydrogen refueling station in Washington state for medium- and heavy-duty vehicles. Plug shares fell 1.7%.

Talos Energy ( TALO ) found commercial quantities of oil and natural gas at its Ewing Bank 953 well in the US Gulf of Mexico with preliminary data suggesting a gross recoverable resource potential of 15 million to 25 million barrels of oil equivalent. Talos shares fell 0.2%.