03:50 PM EDT, 07/26/2024 (MT Newswires) -- Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index adding 0.6% and the Energy Select Sector SPDR Fund (XLE) up 0.2%.

The Philadelphia Oil Service Sector index was posting a 0.6% increase, and the Dow Jones US Utilities index was up 1%.

Front-month West Texas Intermediate crude oil dropped 2% to $76.70 a barrel, and the global benchmark Brent crude contract fell 2% to $80.73 a barrel. Henry Hub natural gas futures decreased 1.9% to $2 per 1 million BTU.

In corporate news, Portland General Electric ( POR ) shares were shedding 0.7% after it reported Q2 earnings Friday of $0.69 per diluted share, up from $0.39 a year earlier. Four analysts polled by Capital IQ expected $0.66.

Petrobras (PBR) is finalizing due diligence for a potential bid to repurchase the Mataripe refinery from Mubadala Investment, Reuters reported Friday. The Brazilian energy giant's shares were fractionally up.

Baker Hughes ( BKR ) shares popped 5.8% following better-than-expected Q2 results in the previous day.

Eni (E) shares gained 4.5% after it reported higher Q2 earnings and revenue.