01:46 PM EST, 01/03/2025 (MT Newswires) -- Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index up 0.9% and the Energy Select Sector SPDR Fund (XLE) rising 1%.

The Philadelphia Oil Service Sector index added 0.2%, and the Dow Jones US Utilities index climbed 1.2%.

Front-month West Texas Intermediate crude oil was up 1.5% at $74.22 a barrel while the global benchmark Brent crude contract was advancing 1% to $76.67 a barrel. Henry Hub natural gas futures fell 7.7% to $3.38 per 1 million BTU.

US natural gas stocks fell by 116 billion cubic feet in the week ended Dec. 27, compared with the 128 billion cubic foot decrease expected in a Bloomberg survey and following a decrease of 93 billion cubic feet in the previous week.

In corporate news, Enterprise Products Partners ( EPD ) is expected to maintain "solid" organic growth, supported by its integrated natural gas liquids operations and the steady rise in Permian oil and NGL production, Truist Securities said in a note. Truist kept its buy rating on the stock and raised its price target to $40 from $37. Enterprise Products ( EPD ) shares were little changed.