03:43 PM EST, 01/03/2025 (MT Newswires) -- Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index adding 0.9% and the Energy Select Sector SPDR Fund (XLE) up 1%.

The Philadelphia Oil Service Sector index added 0.5%, and the Dow Jones US Utilities index climbed 1.1%.

West Texas Intermediate crude oil rose 1.2% to $74.03 a barrel, while global benchmark Brent gained 0.9% to $76.59 a barrel.

US natural gas stocks fell 116 billion cubic feet in the week ended Dec. 27, compared with the 128 billion decrease expected in a Bloomberg survey and following a decline of 93 billion in the previous week.

Henry Hub natural gas futures tumbled 8.2% to $3.36 per 1 million BTU.

In corporate news, Plug Power ( PLUG ) , Constellation Energy ( CEG ) and Bloom Energy ( BE ) shares rose after the US Department of the Treasury issued final rules outlining eligibility criteria for hydrogen producers seeking tax credits. Plug Power ( PLUG ) shares jumped nearly 12%, Constellation popped 4% and Bloom gained 7.6%.

N2OFF ( NITO ) shares soared 152% after it said Friday it signed a binding letter of intent with Solterra unit Solterra Brand Services Italy to buy and develop two battery storage systems in Sicily, Italy.

Vista Energy (VIST) shares fell 2.6% after UBS downgraded the stock to neutral from buy, while raising the price target to $64 from $60.

Enterprise Products Partners ( EPD ) is expected to maintain "solid" organic growth, supported by its integrated natural gas liquids operations and the steady rise in Permian oil and NGL production, Truist Securities said in a report. Enterprise Products ( EPD ) shares rose 0.3%.