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Sector Update: Energy

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Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 1.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 2%.

The Philadelphia Oil Service Sector Index increased 0.9%, and the Dow Jones US Utilities Index fell 2.7%.

Front-month West Texas Intermediate jumped 5.5% to $92.14 a barrel, and the global benchmark Brent crude contract climbed 4.2% to $94.97 a barrel. Henry Hub natural gas futures fell 3.6% to $3.17 per 1 million BTU.

In corporate news, Kazakhstan has restored its oil production to 290,000 metric tons a day following an accident that caused production losses at its largest oilfield, Tengiz, led by Chevron (CVX), Reuters reported, citing the country's Energy Minister Erlan Akkenzhenov. Chevron shares were up 2.3%.

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