03:29 PM EDT, 05/02/2025 (MT Newswires) -- Energy stocks climbed late Friday afternoon with the NYSE Energy Sector Index rising 1.2% and the Energy Select Sector SPDR Fund (XLE) adding 1.5%.

The Philadelphia Oil Service Sector index climbed 1.6%, and the Dow Jones US Utilities index increased 0.6%.

West Texas Intermediate crude oil declined 1.8% to $58.18 a barrel, and global benchmark Brent dropped 1.5% to $61.20 a barrel. Henry Hub natural gas futures jumped 4.6% to $3.64 per 1 million BTU.

In corporate news, Chevron ( CVX ) Chief Executive Officer Mike Wirth said his company told Phillips 66 (PSX) that it's interested in acquiring its share of their 50-50 venture Chevron Phillips Chemical. Chevron ( CVX ) shares rose 1.6%, and Phillips 66 gained 3.8%.