01:17 PM EDT, 05/16/2025 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index down 0.3% and the Energy Select Sector SPDR Fund (XLE) shedding 0.5%.

The Philadelphia Oil Service Sector index fell 0.8%, while the Dow Jones US Utilities index rose 1%.

Front-month West Texas Intermediate crude oil was rising 1.4% to $62.48 a barrel, and the global benchmark Brent crude contract was advancing 1.3% to $65.36 a barrel. Henry Hub natural gas futures were down 0.7% at $3.34 per 1 million BTU.

In corporate news, Schlumberger's ( SLB ) diversified portfolio capped cuts in earnings estimates after Q1 results trailed Wall Street forecasts, Morgan Stanley said in a report. It cut its price target to $45 from $50 while keeping its overweight rating. Schlumberger ( SLB ) shares were falling 0.7%.