Sector Update: Energy Stocks Rise Late Afternoon

() -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%. The Philadelphia Oil Service Sector Index rose 0.2%, and the Dow Jones US Utilities Index climbed 2.1%. The Doha discussions between the US and Iran produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said in a post on X, according to Reuters. Front-month West Texas Intermediate crude oil decreased 0.1% to $68.51 a barrel, and the global benchmark Brent crude contract was up 0.1% at $71.62 a barrel. Henry Hub natural gas futures fell 0.5% to $3.20 per 1 million BTU. In sector news, US natural gas stocks increased by 87 billion cubic feet in the week ended June 26, larger than the 84 billion cubic feet increase expected in a survey compiled and following an increase of 76 billion cubic feet in the previous week. In corporate news, Chevron's (CVX) Kilby power project differentiates the company from its global peers and could become a new earnings growth.