04:07 PM EDT, 08/29/2025 (MT Newswires) -- Energy stocks rose late Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each adding 0.4%.

The Philadelphia Oil Service Sector Index was fractionally down, and the Dow Jones US Utilities Index shed 0.1%

West Texas Intermediate crude oil declined 1% to $63.95 a barrel, and the global benchmark Brent crude contract shed 0.7% to $68.12 a barrel. Henry Hub natural gas futures rose 2.3% to $3.01 per 1 million BTU.

In corporate news, Southwest Gas ( SWX ) shares climbed 2.3% after BofA Securities upgraded the stock to buy from neutral with a price target of $84.

Equinor ( EQNR ) signed a one-year deal to supply Orlen with more than 6 million metric tons of crude oil from the Johan Sverdrup field on the Norwegian Continental Shelf, with deliveries to begin in September. Equinor ( EQNR ) shares rose 0.4%.

TXNM Energy ( TXNM ) said late Thursday that its shareholders approved the acquisition of the company by Blackstone Infrastructure at a special meeting. TXNM stock added 0.2%.

Cenovus Energy's ( CVE ) planned acquisition of MEG Energy is facing opposition from Canadian oil and gas producer Strathcona Resources, which said it intends to buy an additional 5% of the company and oppose the Cenovus bid. Cenovus shares fell 1.9%.