03:48 PM EDT, 04/05/2024 (MT Newswires) -- Energy stocks rose late Friday afternoon with the NYSE Energy Sector Index adding 0.9% and the Energy Select Sector SPDR Fund (XLE) climbing 1.2%.

The Philadelphia Oil Service Sector index advanced 1%, and the Dow Jones US Utilities index eased 0.2%.

West Texas Intermediate crude oil rose 0.3% to $86.81 a barrel, while global benchmark Brent gained 0.4% to $91.04 a barrel. Henry Hub natural gas futures were unchanged at $1.77 per 1 million BTU.

In corporate news, NGL Energy ( NGL ) rose 3.3% as the company completed the sale of its North and South Ranches in New Mexico, resulting in proceeds of $70 million.

Precision Drilling ( PDS ) shares rose 0.8% as S&P Global Ratings on Friday revised its outlook on the company to positive from stable and affirmed the B+ issuer credit rating.

Chesapeake Energy ( CHK ) said tits planned merger with Southwestern Energy ( SWN ) will be completed in H2 due to additional documents requested by the Federal Trade Commission. Chesapeake shares rose 0.5% and Southwestern gained 0.1%.

Shell (SHEL) shares rose 1.4%. The company said it expects "significantly lower" Q1 results in its liquefied natural gas business compared with an "exceptional" Q4. Separately, Shell and Saudi Aramco, which are competing to buy the assets of Temasek-owned Pavilion Energy, are in final talks on pricing negotiations, Reuters reported Friday.