01:48 PM EDT, 08/15/2025 (MT Newswires) -- Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index rising 0.1% and the Energy Select Sector SPDR Fund (XLE) adding 0.7%.

The Philadelphia Oil Service Sector index was easing 0.1%, and the Dow Jones US Utilities index was down 0.3%.

Front-month West Texas Intermediate crude oil declined 1.3% to $63.11 a barrel, and the global benchmark Brent crude contract shed 1.1% to $66.09 a barrel. Henry Hub natural gas futures rose 3% to $2.93 per 1 million BTU.

In corporate news, Exxon Mobil ( XOM ) and Chevron ( CVX ) are close to agreeing on a deal with the Algerian government to explore for gas reserves, including shale, Bloomberg reported, citing an interview with the North African country's energy regulator chairman. Exxon shares added 0.6% and Chevron ( CVX ) climbed 1.6%.

Empire Petroleum ( EP ) shares jumped past 7% after the company said the New Mexico Oil Conservation Commission has issued a ruling confirming its rights to the residual oil zone in the Eunice Monument South Unit unitized interval in Lea County, New Mexico.

T1 Energy ( TE ) shares surged 15% after the company said Friday it will source polysilicon and solar wafers from Corning (GLW) under a commercial agreement.

Xcel Energy ( XEL ) is among multiple utility companies facing an investigation launched by Texas Attorney General Ken Paxton related to the 2024 Smokehouse Creek and Windy Deuce Fires, according to a press release Friday. Xcel shares were down 0.4%.