Energy stocks rose Friday afternoon, with the NYSE Energy Sector Index adding 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.

The Philadelphia Oil Service Sector Index was climbing 1.1%, and the Dow Jones US Utilities Index was shedding 0.4%.

Front-month West Texas Intermediate crude oil was rising 1.2% to $56.80 a barrel, and the global benchmark Brent crude contract was advancing 1.1% to $60.46 a barrel. Henry Hub natural gas futures rose 1.8% to $3.98 per 1 million BTU.

In corporate news, Peabody Energy (BTU) is entering a transition phase as Chief Executive James Grech approaches retirement eligibility. Grech will remain CEO until May 15, 2028, while the board searches for his successor, the company said Friday in a regulatory filing. Peabody shares climbed 2.8%.

Energy Fuels (UUUU) shares jumped past 7% after it said Friday that its high-purity dysprosium oxide has passed all initial quality control benchmarks set by a major South Korean automotive manufacturer for downstream rare earth permanent magnet production.

Petroleo Brasileiro (PBR) shares added 0.6% after the company said it signed new long-term commercial contracts with Braskem (BAK) ahead of the expiration of existing agreements.