03:23 PM EDT, 04/19/2024 (MT Newswires) -- Energy stocks were higher late Friday afternoon with the NYSE Energy Sector Index and Energy Select Sector SPDR Fund (XLE) each adding 1.2%.

The Philadelphia Oil Service Sector Index increased 0.6%, and the Dow Jones US Utilities Index climbed 1.4%.

West Texas Intermediate crude oil gained 1% to $83.55 a barrel, while the global benchmark Brent crude contract advanced 0.3% to $87.38 a barrel. Henry Hub natural gas futures eased 0.1% to $1.76 per 1 million BTU.

In corporate news, Valero Energy ( VLO ) and Chevron ( CVX ) are set to buy oil transported through Canada's Trans Mountain pipeline system for their refineries in California, Bloomberg reported Friday. Valero shares rose 0.7% while Chevron ( CVX ) gained 1.6%.