01:46 PM EDT, 08/07/2026 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index decreasing 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.4%.

The Philadelphia Oil Service Sector Index was shedding 0.4%, and the Dow Jones US Utilities Index rose 1%.

In geopolitical news, an Iranian official said a framework on the Strait of Hormuz has been agreed with Oman, with "a final decision to be made at higher levels," Al Jazeera, a Middle Eastern broadcaster, cited Iranian state media reports. The deal would not automatically reopen the waterway, Tehran's deputy foreign minister said, according to CNN.

Front-month West Texas Intermediate crude oil rose 1% to $78.08 a barrel, and the global benchmark Brent crude contract added 1% to $83.32 a barrel. Henry Hub natural gas futures increased 1.1% to $2.67 per 1 million BTU.

In corporate news, Vistra's ( VST ) shares were slightly lower after it reported Q2 results that fell short of consensus expectations.

Calumet (CLMT) shares were down 3.8% after the company reported Friday it narrowed its Q2 loss to $1.09 per basic share, from a loss of $1.70 a year earlier. Analysts expected earnings of $0.07.

Baker Hughes' ( BKR ) industrial and energy technology segment is expected to be its main growth engine, supported by strong project flow, record orders and rising power demand, Morgan Stanley said in a report. Morgan Stanley resumed coverage of Baker Hughes ( BKR ) with an overweight rating and top pick and a $70 price target. Baker Hughes ( BKR ) shares were down 0.3%.