Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1.3% and the Energy Select Sector SPDR Fund (XLE) climbing 2.2%.
The Philadelphia Oil Service Sector index posted a 1.5% increase, while the Dow Jones US Utilities index was down 1.2%.
Front-month West Texas Intermediate crude oil was up 3.3% to $79.09 a barrel while the global benchmark Brent crude contract was advancing 1.8% to $81.20 a barrel. Henry Hub natural gas futures fell 2.2% to $3.90 per 1 million BTU.
In corporate news, Duke Energy (DUK) said its board has named Harry Sideris as chief executive officer, effective April 1. Its shares were up 0.3%.
PermRock Royalty Trust (PRT) reported Boaz Energy's pending sale to T2S Permian Acquisition II. PermRock Royalty shares rose 3.6%.
Calumet (CLMT) shares added 1.4%. The company said Friday it closed a $1.44 billion guaranteed loan facility with the US Department of Energy to support the construction and expansion of the renewable fuels facility owned by its unit Montana Renewables.
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