01:56 PM EDT, 05/09/2025 (MT Newswires) -- Energy stocks advanced Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising about 0.9%.

The Philadelphia Oil Service Sector Index climbed 1.1%, and the Dow Jones US Utilities Index was up 0.1%.

West Texas Intermediate crude oil rose 1.7% to $60.95 a barrel, and benchmark Brent added 1.6% to $63.87 a barrel. Henry Hub natural gas futures jumped 5.3% to $3.78 per 1 million BTU.

In corporate news, Algonquin Power & Utilities ( AQNB ) shares jumped 8.9% after the company reported Q1 adjusted earnings that topped analyst estimates.

BP (BP) may be at risk of a takeover after a significant drop in its share price left the UK energy giant undervalued, the Financial Times reported. BP shares popped 4.1%.

Enbridge ( ENB ) shares added 0.3%. The company reported Q1 adjusted earnings of CA$1.03 ($0.74) a share, up from CA$0.92 a year earlier. Analysts polled by FactSet expected CA$0.96.