Energy Stocks Gains on Late Turn Around

At the close the Amex Oil Index gained nearly 1.1 percent to 1412 points, while the Amex Natrual Gas Index rose 0.9 percent to gain 560 points. Both rose for the week, with the former advancing 2.6 percent, and the latter jumping 2.7 percent over the past 5 days.

The late-day rebound was sparked by reports that U.S banks are mounting a plan to salvage the credit rating from ailing bond insurer Ambac Financial.

Crude-oil for April delivery rose 58 cents to $99.81 a barrel on the New York Mercantile Exchange, wrapping up a volatile week with a $3.31 gain that carried the contract briefly back above the $100 mark.

Refiners took the brunt of the market's earlier sell-off, hampering their recovery.

Sunoco Inc. led percentage decliners on a 0.4 percent drop to $63.59, the only member of the Amex Oil Index to finish the day with a loss.

Valero Energy Corp fared slightly better, up 0.2% to $59.93, creeping back from an earlier decline.