Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 1.3% and the State Street Energy Select Sector SPDR ETF (XLE) increasing 0.9%.

The Philadelphia Oil Service Sector Index was fractionally lower, and the Dow Jones US Utilities Index was shedding 0.7%.

Front-month West Texas Intermediate crude oil jumped 4% to $82.12 a barrel, and the global benchmark Brent crude contract climbed 4.2% to $87.77 a barrel. Henry Hub natural gas futures rose 2% to $2.92 per 1 million BTU.

In corporate news, Valero Energy (VLO) shares were rising 2.3%. The company said in a filing Thursday that its board has authorized the purchase of the company's common stock worth $5 billion, in addition to the amount remaining under its existing buyback program.