Energy stocks added to their midday gains this afternoon, with the NYSE Energy Sector Index up 1.6% late in the session while the SPDR Energy Select Sector ETF (XLE) rose 1.5%. The Philadelphia Oil-Service Sector Index was up 2.2%, but the Dow Jones US Utilities Index slipped 0.3%.

West Texas Intermediate crude oil rose $3.65 to $104.25 a barrel, ending near its intraday high after the Energy Information Administration reported a larger-than-expected rise in U.S. commercial crude inventories this week. last. Global benchmark Brent crude rose $4.25 to $108.89 a barrel while Henry Hub natural gas futures rose $0.32 to $7.00 per 1 million BTU.

In company news, Medigus (MDGS) added 3.1% after it said it acquired a nearly 19.2% stake in ABI Energy, paid $300,000 in cash and issued $400,000 of its shares. US Custodian as the lead investor in a $1.4 million funding round for the privately held pipeline technology company.

Noble (NE) rose 1.2% after the offshore drilling entrepreneur said on Tuesday night that antitrust regulators in Brazil, Norway and Trinidad and Tobago had approved its proposed merger with Maersk Drilling. The companies also said they expected UK authorities to ask them to sell some of their North Sea rigs before agreeing to the deal.

Atlas (ATCO) climbed almost 1% after its subsidiary APR Energy said the duration of its gas generation project in Brazil had been extended to almost 4 years from just one year.

ION Geophysical (IO) plunged more than 37% after the marine seismic survey company overnight revealed plans to voluntarily file for Chapter 11 bankruptcy protection in Texas. The company also said that all of its lenders and holders of approximately 80% of its 8.00% Senior Secured Second Priority Notes due 2025 have approved the process.