03:44 PM EDT, 03/20/2026 (MT Newswires) -- Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index down 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) increasing 0.2%.

The Philadelphia Oil Service Sector Index fell 1.2%, and the Dow Jones US Utilities Index dropped 3.9%.

Front-month West Texas Intermediate crude oil was rising 2.9% to $98.31 a barrel, and the global benchmark Brent crude contract was advancing 3.3% to $112.28 a barrel. Henry Hub natural gas futures shed 1.8% to $3.11 per 1 million BTU.

In sector news, the US government is mulling plans to occupy or blockade Kharg Island, crucial to Iran's oil exports, to mount pressure on Iran to allow tanker shipments through the Strait, Axios reported Friday. The US is sending up to 2,500 additional marines and three warships to the Middle East, according to the Wall Street Journal.

In corporate news, Chevron ( CVX ) shares added 0.7% after HSBC upgraded the stock to buy from hold and raised its price target to $215 from $180.