03:30 PM EDT, 09/27/2024 (MT Newswires) -- Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 1.5% and the Energy Select Sector SPDR Fund (XLE) climbing 1.9%.

The Philadelphia Oil Service Sector Index spiked 2.4%, and the Dow Jones US Utilities Index was advancing 1.2%.

Front-month West Texas Intermediate crude oil was rising 0.8% to $68.24 a barrel while the global benchmark Brent crude contract was up 0.5% to $71.97 a barrel. Henry Hub natural gas futures jumped 5.5% to $2.90 per 1 million BTU.

In corporate news, Ovintiv ( OVV ) shares popped 3.3%. The company disclosed regulatory approvals late Thursday to renew its share buyback program to repurchase 10% of its public float as of Sept. 20.