Sector Update: Energy

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.3% and the Energy Select Sector SPDR Fund (XLE) up 0.1%.

The Philadelphia Oil Service Sector index was posting a 1% drop, and the Dow Jones US Utilities index was rising 0.5%.

Front-month West Texas Intermediate crude oil was declining 0.3% to $82.53 a barrel while the global benchmark Brent crude contract was down 0.1% to $87.94 a barrel.

US natural gas stocks rose by 92 billion cubic feet in the week ended April 19, above the 83 billion increase expected in a survey compiled by Bloomberg and following an increase of 50 billion cubic feet in the previous week.

Henry Hub natural gas futures were 1.9% lower at $1.62 per 1 million BTU.

In corporate news, TechnipFMC FTI shares spiked 3.7% after the company reported better-than-expected Q1 results.