03:46 PM EDT, 08/15/2025 (MT Newswires) -- Energy stocks increased late Friday afternoon with the NYSE Energy Sector Index fractionally higher and the Energy Select Sector SPDR Fund (XLE) adding 0.2%.

The Philadelphia Oil Service Sector Index fell 0.8%, and the Dow Jones US Utilities Index dropped 0.5%.

West Texas Intermediate crude oil declined 1.5% to $63.00 a barrel, and global benchmark Brent shed 1.3% to $66.00a barrel. Henry Hub natural gas futures rose 3.1% to $2.93 per 1 million BTU.

In corporate news, the US Treasury Department and the IRS on Friday generally nixed prior guidance on what is considered beginning construction for clean energy projects attempting to earn tax credits. Shares of SunRun ( RUN ) surged 36%, First Solar ( FSLR ) gained 13%, Canadian Solar ( CSIQ ) advanced 9%, and Array (ARRY) jumped 26%.

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 shed 0.4% and Chevron ( CVX ) climbed 1.1%.

Empire Petroleum ( EP ) shares jumped past 8% 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 19% after the company said Friday it will source polysilicon and solar wafers from Corning (GLW) under a commercial agreement.