03:21 PM EST, 01/03/2025 (MT Newswires) -- Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 1%.

The Philadelphia Oil Service Sector index added 0.4%, and the Dow Jones US Utilities index climbed 1.3%.

West Texas Intermediate crude oil rose 1.4% to $74.13 a barrel, while global benchmark Brent advanced 1% to $76.65 a barrel. Henry Hub natural gas futures tumbled 8% to $3.37 per 1 million BTU.

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

In corporate news, Plug Power ( PLUG ) , Constellation Energy ( CEG ) and Bloom Energy ( BE ) shares rose after the US Department of the Treasury issued final rules outlining eligibility criteria for hydrogen producers seeking tax credits. Plug Power ( PLUG ) shares jumped 11%, Constellation popped 4.6% and Bloom gained 7.4%.