Energy stocks were higher 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 0.3%, and the Dow Jones US Utilities index was edging up 0.1%.
Front-month West Texas Intermediate crude oil was rising 1.7% to $68.27 a barrel, and the global benchmark Brent crude contract was advancing 1.6% to $71.91 a barrel. Henry Hub natural gas futures fell 5.4% to $4.02 per 1 million BTU.
US natural gas stocks rebounded by 9 billion cubic feet in the week ended March 14, above the 4 billion increase expected in a Bloomberg survey and following a decrease of 62 billion cubic feet in the previous week.
In corporate news, VivoPower International (VVPR) shares were up over 7% after the firm said it plans to spin off its subsidiary, Caret Digital, through a direct listing on Nasdaq.
Shell (SHEL) has moved up the target start date to 2026 from 2027 to export natural gas from Venezuela's Dragon gas field to Trinidad and Tobago, Reuters reported. Shell was rising 0.4%.
The Trump administration is poised to grant Chevron (CVX) at least 30 extra days to end its Venezuela operations, Bloomberg reported. Chevron shares added 0.1%.
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