01:35 PM EDT, 08/09/2024 (MT Newswires) -- Energy stocks were rising Friday afternoon, with the NYSE Energy Sector Index increasing 0.6% and the Energy Select Sector SPDR Fund (XLE) adding 0.5%.

The Philadelphia Oil Service Sector Index was easing 0.2%, and the Dow Jones US Utilities Index was up 0.2%.

Front-month West Texas Intermediate crude oil was rising 1% to $76.92 a barrel while the global benchmark Brent crude contract was advancing 0.7% to $79.70 a barrel. Henry Hub natural gas futures were 0.9% higher at $2.15 per 1 million BTU.

In corporate news, Algonquin Power & Utilities ( AQNB ) shares tumbled past 11% after the company agreed to sell its renewable energy business to LS Power in an all-cash deal worth up to $2.5 billion, excluding debt. Algonquin also reported mixed Q2 results Friday.