Sector Update: Energy Stocks Rise Wednesday Afternoon

02:03 PM EDT, 09/23/2026 (MT Newswires) -- Energy stocks climbed Wednesday afternoon with the NYSE Energy Sector Index rising 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%. The Philadelphia Oil Service Sector Index eased 0.2%, and the Dow Jones US Utilities Index fell 1.1%. West Texas Intermediate crude oil rose 1.8% to $92.16 a barrel, and global benchmark Brent gained 3.6% to $102.80 a barrel. Henry Hub natural gas futures climbed 1.5% to $3.01 per 1 million BTU. In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, rose 2.6 million barrels in the week ended Friday following a drop of 1 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks increased 3 million after a decline of 600,000 in the previous week, compared to a drop of 690,000 expected in a survey compiled by Bloomberg. President Donald Trump said he supports a diesel export ban as prices hit record highs, several media outlets reported, citing comments ahead of Ukrainian President Volodymyr Zelenskyy's meeting. Treasury Secretary Scott Bessent said the administration was examining whether a full or partial ban was feasible, the reports said. In corporate news, Devon Energy (DVN) was urged earlier this month by activist hedge fund Toms Capital Management to review alternatives, including a sale, CNBC reported. Devon shares rose 3.3%. TotalEnergies (TTE) plans to develop the Ima gas field offshore Nigeria in partnership with AMNI. TotalEnergies shares added 1.4%. Gran Tierra Energy (GTE) filed a definitive proxy statement with US regulators on Sept. 15 related to its special meeting of stockholders to approve the $1.33 billion sale of its Colombian and Ecuadorian businesses. Gran Tierra shares rose 1.7%.