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Sector Update: Energy

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Energy stocks were higher late Wednesday afternoon, with the NYSE Energy Sector Index rising 1.9% and the State Street Energy Select Sector SPDR ETF (XLE) climbing 2%.

The Philadelphia Oil Service Sector Index was adding 1%, and the Dow Jones US Utilities Index increased 0.2%.

Front-month West Texas Intermediate crude oil rose 2.4% to $90.30 a barrel, and the global benchmark Brent crude contract added 2.1% to $93.35 a barrel. Henry Hub natural gas futures advanced 1.5% to $3.19 per 1 million BTU.

In corporate news, Entergy (ETR) shares gained 1.5% after Evercore ISI upgraded the company to outperform from in line and lifted its price target to $121 from $115.

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