Energy stocks rose late Thursday afternoon with the NYSE Energy Sector Index gaining 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.6%.

The Philadelphia Oil Service Sector Index fell 0.4%, and the Dow Jones US Utilities Index shed 0.6%.

West Texas Intermediate crude oil rose 3.2% to $95.15 a barrel, and global benchmark Brent climbed 4% to $107.19 a barrel. Henry Hub natural gas futures surged 9.2% to $3.30 per 1 million BTU.

In corporate news, BP (BP) is considering a potential acquisition of Devon Energy's (DVN) operations in South Texas as part of renewed efforts to expand its US shale assets, Reuters reported. BP shares eased 0.3%, and Devon rose 1.3%.