03:19 PM EST, 01/17/2025 (MT Newswires) -- Energy stocks gained late Friday afternoon with the NYSE Energy Sector Index adding 0.5% and the Energy Select Sector SPDR Fund (XLE) rising 0.8%.

The Philadelphia Oil Service Sector index climbed 1.9%, and the Dow Jones US Utilities index up 0.1%.

West Texas Intermediate crude oil fell 0.9% to $77.98 a barrel, and global benchmark Brent dropped 0.8% to $80.66 a barrel. Henry Hub natural gas futures slumped 7.6% to $3.94 per 1 million BTU.

In corporate news, American Electric Power ( AEP ) shares rose 0.7% after it said Friday it's seeking grants from the US Department of Energy to support the Early Site Permit process for two potential Small Modular Reactor sites in Indiana and Virginia.