01:37 PM EDT, 06/28/2024 (MT Newswires) -- Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index up 0.7% and the Energy Select Sector SPDR Fund (XLE) rising 0.6%.

The Philadelphia Oil Service Sector index was posting a 1% increase, and the Dow Jones US Utilities index was falling 1.1%.

Front-month West Texas Intermediate crude oil was declining 0.2% to $81.54 a barrel and the global benchmark Brent crude contract was 0.3% lower at $85.03 a barrel. Henry Hub natural gas futures fell 2.9% to $2.60 per 1 million BTU.

In corporate news, Plug Power ( PLUG ) said Friday that it will recognize the US Inflation Reduction Act's tax credit benefits for the production of clean hydrogen in its upcoming quarterly financial results. Its shares were falling 3.7%.