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Sector Update: Energy

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Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) increasing 0.3%.

The Philadelphia Oil Service Sector Index was adding 0.6%, and the Dow Jones US Utilities Index was fractionally lower.

Front-month West Texas Intermediate crude oil rose 2.3% to $86.85 a barrel, and the global benchmark Brent crude contract advanced 1.6% to $92.51 a barrel. Henry Hub natural gas futures added 2.3% to $2.84 per 1 million BTU.

In corporate news, Energy Fuels (UUUU) shares gained 4.3% after it said Wednesday that terbium oxide produced at the White Mesa Mill in Utah has been qualified for commercial use by one of Japan's largest rare earth permanent magnet manufacturers.

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