01:43 PM EDT, 07/26/2024 (MT Newswires) -- Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each adding 0.6%.

The Philadelphia Oil Service Sector index was posting a 1.1% increase, and the Dow Jones US Utilities index was up 1%.

Front-month West Texas Intermediate crude oil was declining 1% to $77.47 a barrel while the global benchmark Brent crude contract was falling 1.2% to $81.40 a barrel. Henry Hub natural gas futures were 1.1% lower at $2.02 per 1 million BTU.

In corporate news, Baker Hughes ( BKR ) shares popped 5.1% following better-than-expected Q2 results in the previous day.

Eni (E) shares gained 4.4% after it reported higher Q2 earnings and revenue.

Borr Drilling ( BORR ) said Friday it has obtained new contract commitments for three of its jack-up rigs totaling $332 million in contract revenue. Its shares were falling 1.2%.