Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1.2% and the Energy Select Sector SPDR Fund (XLE) up 0.7%.
The Philadelphia Oil Service Sector index added 0.7%, while the Dow Jones US Utilities index shed 0.3%.
Front-month West Texas Intermediate crude oil was rising 2.9% to $62.55 a barrel, and the global benchmark Brent crude contract was advancing 3.3% to $64.85 a barrel. Henry Hub natural gas futures jumped 7% to $3.69 per 1 million BTU.
In corporate news, BP's (BP) Castrol lubricants business has drawn early interest from potential bidders, but some are mulling offers less than the targeted valuation of over $8 billion, the Financial Times reported Sunday. BP shares were up 1.1%.
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