01:36 PM EDT, 10/03/2024 (MT Newswires) -- Energy stocks rose Thursday afternoon, with the NYSE Energy Sector Index advancing 1.2% and the Energy Select Sector SPDR Fund (XLE) adding 1.3%.

The Philadelphia Oil Service Sector index climbed 1.8%, and the Dow Jones US Utilities index shed 0.7%.

After Israeli air strikes on central Beirut, front-month West Texas Intermediate crude oil surged 5.1% to $73.64 a barrel, while global benchmark Brent contract jumped 4.8% to $77.48 a barrel.

US natural gas stocks rose 55 billion cubic feet in the week ended Friday, a smaller gain than the 57 billion increase expected in a survey compiled by Bloomberg and following the gain of 47 billion in the previous week.

Henry Hub natural gas futures climbed 2.7% to $2.96 per 1 million BTU.

In corporate news, EON Resources ( EONR ) shares gained 6.7%. The company completed infrastructure improvements and upgrades to increase daily oil production.