03:15 PM EDT, 08/23/2024 (MT Newswires) -- Energy stocks climbed late Friday afternoon with the NYSE Energy Sector Index rising 1.6% and the Energy Select Sector SPDR Fund (XLE) advancing 1.5%.

The Philadelphia Oil Service Sector index jumped 3%, and the Dow Jones US Utilities index added 0.1%.

West Texas Intermediate crude oil rose 2.6% to $74.91 a barrel, while global benchmark Brent advanced 2.4% to $79.08 a barrel. Henry Hub natural gas futures fell 1.4% to $2.03 per 1 million BTU.

In corporate news, GE Vernova ( GEV ) shares fell 1.9% after a blade from a company turbine failed at the Dogger Bank A offshore wind farm in the UK.