Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.4%.
The Philadelphia Oil Service Sector Index was climbing up 2.2%, and the Dow Jones US Utilities Index was 0.1% higher.
Front-month West Texas Intermediate crude oil rose 1.3% to $87.13 a barrel, and the global benchmark Brent crude contract advanced 1.7% to $93.02 a barrel. Henry Hub natural gas futures fell 1.5% to $3.25 per 1 million BTU.
In corporate news, Talen Energy (TLN) shares rose past 5% after the firm said it has signed a seven-year capacity agreement to supply 750 megawatts to an investment-grade counterparty in the PJM market, generating about $100 million in annual revenue.
