Sector Update: Energy Stocks Gain Friday Afternoon

01:58 PM EDT, 10/30/2026 (MT Newswires) -- Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index rising 1.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.7%. The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index was rising 0.8%. Front-month West Texas Intermediate crude oil rose 2.7% to $104.76 a barrel, and the global benchmark Brent crude contract advanced 2.5% to $117.78 a barrel. Henry Hub natural gas futures fell 1.8% to $2.90 per 1 million BTU. In corporate news, Exxon Mobil (XOM) and Chevron (CVX) reported Q3 adjusted earnings above Wall Street's estimates on Friday, driven by strong refining margins. Separately, Exxon CEO Darren Woods told CNBC Friday the company expects to invest over $100 billion between 2027 and 2030 across its businesses to help boost global energy supplies, with 10% going toward its refining business. Exxon shares rose 1.8%, and Chevron added 1.4%. Hess Midstream (HESM) shares added 2.1% after it posted higher Q3 earnings. BP (BP) CEO Meg O'Neill categorically denied conversations about breaking up the company, reaffirming the importance of its integrated oil and gas business during the company's Q3 earnings call Friday. BP shares were up 0.6%. Valero Energy's (VLO) Valero Refining-Texas unit signed a definitive deal to acquire LYB Houston Hub from a LyondellBasell Industries (LYB) subsidiary for $320.5 million, according to a Friday statement. Valero shares rose 2.6%.