01:54 PM EDT, 03/17/2025 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising about 1.7%.

The Philadelphia Oil Service Sector index added 1.6%, and the Dow Jones US Utilities index was up 0.8%.

Front-month West Texas Intermediate crude oil was rising 0.5% to $67.49 a barrel while the global benchmark Brent crude contract was advancing 0.6% to $70.98 a barrel. Henry Hub natural gas futures shed 0.2% to $4.10 per 1 million BTU.

In corporate news, Chevron ( CVX ) acquired 15.38 million shares of Hess (HES) between January and March, about 4.99% of its shares as of Jan. 31, Chevron ( CVX ) said. Chevron ( CVX ) shares were rising 1.4%, and Hess added 2.2%.

New Fortress Energy ( NFE ) shares popped 6% after the firm said it amended the extension of its gas supply contract with the Puerto Rico Electric Power Authority to 100 days from one year previously.

Barnwell Industries ( BRN ) shares rose 1.2% after the company said it sold its Water Resources International subsidiary in Hawaii for $1.05 million.