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

The Philadelphia Oil Service Sector Index was adding 0.9%, and the Dow Jones US Utilities Index rose 0.3%.

In sector news, the Group of Seven nations have agreed to implement a coordinated release of 100 million barrels of diesel and other oil reserves through the International Energy Agency, starting immediately and over four months, in a bid to stabilize energy supplies.

Front-month West Texas Intermediate crude oil fell 1.6% to $91.42 a barrel, and the global benchmark Brent crude contract eased slightly to $102.28 a barrel. Henry Hub natural gas futures advanced 1.5% to $3.01 per 1 million BTU.

In corporate news, Petrobras (PBR) shares rose 1.4% after the company said Friday it has made a new oil discovery in block FZA-M-59, off the coast of Amapa, Brazil.