The Philadelphia Oil Service Sector index was posting a 0.6% increase and the Dow Jones US Utilities index was shedding 0.6%.

Front-month West Texas Intermediate crude oil was rising 0.3% to $83.82 a barrel while the global benchmark Brent crude contract was advancing 0.4% to $89.41 a barrel. Henry Hub natural gas futures tumbled 3.3% to $1.58 per 1 million BTU.

In corporate news, Exxon Mobil (XOM) shares sank 2.8% after the company's Q1 earnings declined annually and missed market estimates, impacted by lower oil refining margins and natural gas prices.

Chevron's (CVX) Q1 results decreased on a yearly basis amid reduced margins on refined product sales and lower natural gas realizations. Its shares eased 0.1%.

Phillips 66 (PSX) shares tumbled 3.6% after it reported Q1 adjusted earnings of $1.90 per share, down from $4.21 a year earlier. Analysts polled by Capital IQ expected $2.25.

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