Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index decreasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.1%.

The Philadelphia Oil Service Sector Index was climbing 1.6%, and the Dow Jones US Utilities Index shed 0.4%.

In sector news, US forces disabled two Iranian-flagged unladen oil tankers on Friday attempting to dock at an Iranian port on the Gulf of Oman in violation of the US blockade, US Central Command said on X.

Front-month West Texas Intermediate crude oil was rising 1.1% to $95.81 a barrel, and the global benchmark Brent crude contract was advancing 1.3% to $101.32 a barrel. Henry Hub natural gas futures shed 0.4% to $2.76 per 1 million BTU.

In corporate news, Shell (SHEL) CEO Wael Sawan said the global oil market faces a shortage of nearly 1 billion barrels of crude due to the ongoing Iran conflict, warning that the supply deficit is "deepening every single day." Speaking during Shell's Q1 earnings call on Thursday, Sawan said the market has lost significant volumes either through "locked-in barrels or unproduced barrels," adding that the recovery process would take time. Shell shares were down 0.3%.