The Philadelphia Oil Service Sector index decreased 0.2%, while the Dow Jones US Utilities index was adding 0.2%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, rose by 6.4 million barrels in the week ended March 28 following a decrease of 3.1 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks increased by 6.2 million barrels after a 3.3-million-barrel decline in the previous week, compared with a 500,000-barrel decrease expected in a survey compiled by Bloomberg.

Front-month West Texas Intermediate crude oil rose 1% to $71.89 a barrel, and the global benchmark Brent crude contract advanced 0.8% to $75.07 a barrel. Henry Hub natural gas futures added 2.2% to $4.04 per 1 million BTU.

In corporate news, RPC (RES) shares rose 2.2% after it said Wednesday it has acquired Pintail Alternative Energy for about $245 million in cash and securities. Pintail provides oilfield wireline services in the Permian basin, RPC said.

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