01:17 PM EDT, 04/05/2024 (MT Newswires) -- Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index rising 1.1% and the Energy Select Sector SPDR Fund (XLE) adding 1.3%.

The Philadelphia Oil Service Sector index was posting a 1.3% increase and the Dow Jones US Utilities index was up 0.2%.

Front-month West Texas Intermediate crude oil was rising 1% to $87.44 a barrel, while global benchmark Brent was advancing 1.2% to $91.73 a barrel. Henry Hub natural gas futures were 2% higher at $1.81 per 1 million BTU.

In corporate news, Chesapeake Energy ( CHK ) said Friday that its planned merger with Southwestern Energy ( SWN ) will be completed in H2 due to additional documents requested by the the Federal Trade Commission. Chesapeake shares slipped 0.1% and Southwestern slid 0.7%.