Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising about 1.7%.
The Philadelphia Oil Service Sector index added 1.6%, and the Dow Jones US Utilities index was up 0.8%.
Front-month West Texas Intermediate crude oil was rising 0.5% to $67.49 a barrel while the global benchmark Brent crude contract was advancing 0.6% to $70.98 a barrel. Henry Hub natural gas futures shed 0.2% to $4.10 per 1 million BTU.
In corporate news, Chevron (CVX) acquired 15.38 million shares of Hess (HES) between January and March, about 4.99% of its shares as of Jan. 31, Chevron said. Chevron shares were rising 1.4%, and Hess added 2.2%.
New Fortress Energy (NFE) shares popped 6% after the firm said it amended the extension of its gas supply contract with the Puerto Rico Electric Power Authority to 100 days from one year previously.
Barnwell Industries (BRN) shares rose 1.2% after the company said it sold its Water Resources International subsidiary in Hawaii for $1.05 million.
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