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Sector Update: Energy Stocks Rise Tuesday Afternoon

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Energy stocks gained Tuesday afternoon with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.

The Philadelphia Oil Service Sector Index climbed 1.4%, and the Dow Jones US Utilities Index edged up 0.1%.

Oil prices rose as a faltering ceasefire between the US and Iran kept the Strait of Hormuz closed. Front-month West Texas Intermediate gained 3.6% to $101.57 a barrel, and global benchmark Brent advanced 3.1% to $107.43 a barrel.

Henry Hub natural gas futures fell 3.1% to $2.819 per 1 million BTU.

In corporate news, Targa Resources (TRGP) is positioned for growth into 2026 and beyond, supported by strong Permian volume growth and potential upside from commodity price tailwinds, RBC Capital Markets said. Targa shares gained 1.3%.

Eni (E) asked Morgan Stanley (MS) to help it raise funds from investors, including Apollo (APO), KKR (KKR), and Stonepeak, in a potential deal backed by its floating liquefied natural gas assets, Reuters reported. Eni shares rose 0.6%.

Shell (SHEL) plans to divest its gasoline station network in France, according to a Google translation of a report from French newspaper Les Echos. Shell shares eased 0.1%.

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