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Sector Update: Energy

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Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) climbing 2%.

The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index fell 2.2%.

Front-month West Texas Intermediate crude oil gained 4.2% to $105.43 a barrel, and the global benchmark Brent crude contract was advancing 3.4% to $109.31 a barrel. Henry Hub natural gas futures rose 2.7% to $2.97 per 1 million BTU.

In corporate news, Prairie Operating (PROP) shares fell 16% after it reported a Q1 loss late Thursday of $2.16 per diluted share, narrowing from a loss of $3.49 a year earlier. Four analysts polled by FactSet expected earnings of $0.15.

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