Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index easing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.4%.

The Philadelphia Oil Service Sector Index was shedding 0.6%, and the Dow Jones US Utilities Index was declining 0.9%.

In geopolitical news, an Iran-aligned militia group's threat to the alternative shipping route through the Strait of Hormuz grew stronger. Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea and an important shipping route, Reuters reported.

Front-month West Texas Intermediate crude oil jumped 6.4% to $102.23 a barrel, and the global benchmark Brent crude contract popped 6.2% to $107.44 a barrel. Henry Hub natural gas futures rose 0.6% to $2.84 per 1 million BTU.

In corporate news, Braskem (BAK) said Wednesday that its subsidiary Voqen Energia amended a natural gas supply agreement with Petrobras (PBR), extending the contract through Dec. 31, 2029, from Dec. 31, 2026. Braskem shares jumped past 7%, and Petrobras was up 2.3%.