01:32 PM EST, 02/07/2025 (MT Newswires) -- Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index rising 0.5% and the Energy Select Sector SPDR Fund (XLE) adding 0.8%.

The Philadelphia Oil Service Sector index was posting a 0.8% rise, and the Dow Jones US Utilities index was up fractionally.

Front-month West Texas Intermediate crude oil was rising 0.4% to $70.86 a barrel while the global benchmark Brent crude contract was advancing 0.4% to $74.62 a barrel. Henry Hub natural gas futures fell 1.7% to $3.35 per 1 million BTU.

In corporate news, Chevron ( CVX ) is expediting the expansion of the Tengiz oilfield in Kazakhstan, which started in January, Reuters reported. Chevron ( CVX ) shares rose 1.2%.