Sector Update: Energy

Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) falling 1.3%.The Philadelphia Oil Service Sector Index was up 0.1%, and the Dow Jones US Utilities Index climbed 1.6%.Front-month West Texas Intermediate crude oil was rising 3.5% to $97.74 a barrel, and the global benchmark Brent crude contract was advancing 1% to $95.73 a barrel. Henry Hub natural gas futures fell 2% to $2.67 per 1 million BTU.In corporate news, Chevron (CVX) expects higher commodity prices driven by the Middle East conflict to boost Q1 earnings in its upstream segment by up to $2.2 billion, though timing impacts could weigh on its bottom line. Shares were down 1.1%.

-- Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) falling 1.3%.

The Philadelphia Oil Service Sector Index was up 0.1%, and the Dow Jones US Utilities Index climbed 1.6%.

Front-month West Texas Intermediate crude oil was rising 3.5% to $97.74 a barrel, and the global benchmark Brent crude contract was advancing 1% to $95.73 a barrel. Henry Hub natural gas futures fell 2% to $2.67 per 1 million BTU.

In corporate news, Chevron (CVX) expects higher commodity prices driven by the Middle East conflict to boost Q1 earnings in its upstream segment by up to $2.2 billion, though timing impacts could weigh on its bottom line. Shares were down 1.1%.