03:35 PM EDT, 05/31/2024 (MT Newswires) -- Energy stocks rose late Friday afternoon with the NYSE Energy Sector Index adding 1.7% and the Energy Select Sector SPDR Fund (XLE) climbing 1.8%.

The Philadelphia Oil Service Sector index rose 1.5%, and the Dow Jones US Utilities index climbed 1.7%.

West Texas Intermediate crude oil fell 1.1% to $77.09 a barrel, while global benchmark Brent crude decreased 0.3% to $81.62 a barrel. Henry Hub natural gas futures rose 0.7% to $2.59 per 1 million BTU.

In corporate news, FirstEnergy ( FE ) shares rose 2.6% after the company said its electric companies in Ohio would ask state regulators to review base electric rates.

PNM Resources ( PNM ) shares added 2.1% after the New Mexico Public Regulation Commission approved an application by the company's Public Service Company of New Mexico subsidiary to add 410 megawatts of solar and battery storage capacity by summer 2026.

Alliant Energy ( LNT ) shares rose 1.6% after construction of a 200-megawatt solar array in Potosi, Wisconsin, was completed.

Chord Energy ( CHRD ) and Enerplus (ERF) said they completed their merger with Enerplus shares ceasing trading on the New York Stock Exchange on Friday and delisting from the Toronto Stock Exchange set for Monday. Chord stock gained 1.5%.