03:43 PM EST, 12/27/2024 (MT Newswires) -- Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index fractionally up and the Energy Select Sector SPDR Fund (XLE) easing 0.2%.

The Philadelphia Oil Service Sector index fell 0.5%, and the Dow Jones US Utilities index shed 0.6%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell 4 million barrels in the week Friday following a decrease of 400,000 barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell 4.2 million after a 900,000 drop in the previous week, a larger decline than the 600,000 expected in a survey compiled by Bloomberg.

West Texas Intermediate crude oil rose 0.8% to $70.21 a barrel, while global benchmark Brent advanced 0.7% to $73.78 a barrel after Israeli strikes against Yemen's Houthi rebels triggered supply concerns amid escalating tensions in the region.

US natural gas stocks fell 93 billion cubic feet in the week ended Friday, compared with the 100 billion decrease expected in a survey compiled by Bloomberg and following a decrease of 125 billion in the previous week.

Henry Hub natural gas futures slumped 5.4% to $3.51 per 1 million BTU.

In corporate news, Battalion Oil ( BATL ) shares rose nearly 14%. The company's Halcon unit refinanced all of its senior secured credit agreements with lenders, who are providing $162 million in borrowing capacity through a new term loan maturing in December 2028.

Martin Midstream Partners ( MMLP ) will continue to operate as a stand-alone entity after the company said Thursday it was mutually terminating its proposed merger with general partner Martin Resource Management. Martin Midstream ( MMLP ) shares tumbled past 6%.

Shell (SHEL) said it shut down one of the oil processing units at its energy and chemicals park at Pulau Bukom, Singapore, to investigate a suspected leak detected Thursday. Shell shares were rising 0.5%.