03:52 PM EDT, 03/19/2025 (MT Newswires) -- Energy stocks were higher late Wednesday afternoon, with the NYSE Energy Sector Index rising 1.8% and the Energy Select Sector SPDR Fund (XLE) climbing 1.5%.

The Philadelphia Oil Service Sector index added 1.5%, and the Dow Jones US Utilities index increased 0.4%

US crude oil stocks, including those in the Strategic Petroleum Reserve, rose by 2 million barrels in the week ended March 14 following a rise of 1.7 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose by 1.7 million barrels after a 1.4 million barrel gain in the previous week, above the 1-million-barrel increase expected in a survey compiled by Bloomberg.

Front-month West Texas Intermediate crude oil rose 0.5% to $67.24 a barrel, and the global benchmark Brent crude contract advanced 0.5% to $70.92 a barrel. Henry Hub natural gas futures rose 4.2% to $4.22 per 1 million BTU.

In corporate news, Westwater Resources ( WWR ) shares rose 4.5% after the firm said its Kellyton graphite facility got ISO certifications for its quality management system.

APA (APA) has cut about 300 jobs globally, or 10% to 15% of its workforce, as part of cost-cutting efforts, Bloomberg reported. APA shares climbed 3.6%.

Venture Global ( VG ) shares jumped past 7%. The company's planned CP2 liquefied natural gas export project for Cameron Parish, Louisiana, has received the US Department of Energy's approval, the regulator said.