Energy stocks rose late Wednesday afternoon with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.

The Philadelphia Oil Service Sector Index eased 0.1%, and the Dow Jones US Utilities Index fell 1.6%.

West Texas Intermediate crude oil rose 2.1% to $92.41 a barrel, and global benchmark Brent gained 4.1% to $103.32 a barrel. Henry Hub natural gas futures climbed 1.9% to $3.02 per 1 million BTU.

In corporate news, PG&E (PCG) shares fell 3.4% after UBS downgraded the stock to neutral from buy and cut its price target to $14 from $19.