Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index increasing 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.
The Philadelphia Oil Service Sector Index was climbing 3.8%, and the Dow Jones US Utilities Index fell 1.7%.
Front-month West Texas Intermediate crude oil rose 0.6% to $91.06 a barrel, and the global benchmark Brent crude contract advanced 1.2% to $94.17 a barrel. Henry Hub natural gas futures fell 3% to $3.13 per 1 million BTU.
In corporate news, Oklo (OKLO) shares gained 1.4% after the company said it has acquired Armec, a manufacturing and engineering firm, to expand its capabilities in reactor and fuel manufacturing programs.
Eni (E) and Petronas said they have launched a 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia. Eni shares rose 1%.
Alliance Resource Partners (ARLP) shares added 0.4% after the company said Monday it has agreed to buy certain general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for about $206.2 million.