Shares of energy companies edged higher with oil prices as traders weighed the latest setback in efforts to resolve the Middle East conflict against the prospect of added supply.

Saudi Arabia has resumed exporting oil via its East-West pipeline after repairing the damage caused by drone strikes earlier this month, people familiar with the matter told The Wall Street Journal, restoring partial flows on a major route that bypasses the Strait of Hormuz. Saudi Aramco, the kingdom's flagship oil company, started loading vessels at the Red Sea port of Yanbu via the pipeline on Sunday, the people said. The development comes after the company began testing the pipeline last week for structural integrity and pressure, the people said.

TotalEnergies laid out its growth objectives to expand energy capacity beyond 2030, supported by billions of dollars in investment each year. The French energy company said it plans to invest between $14 billion and $17 billion per year between 2027 and 2032. It expects its oil and gas segment to have around 2% to 3% output growth per year between 2030 to 2035, enabled by its portfolio of organic projects.

With the White House considering a potential diesel export ban, Goldman Sachs strategists have estimated how such a ban would play out. Last week, President Donald Trump said he would support a ban on U.S. diesel exports to help lower costs after they recently reached their highest level at $6.53 a gallon.