Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.6%.
The Philadelphia Oil Service Sector Index increased 0.2%, and the Dow Jones US Utilities Index was up 0.3%.
Oil prices were advancing Monday following reports of Russian strikes targeting energy facilities in Ukraine, despite President Donald Trump announcing an energy ceasefire between the countries last week.
Front-month West Texas Intermediate crude oil climbed 2.1% to $93.76 a barrel, and the global benchmark Brent crude contract rose 1.8% to $106.62 a barrel. Henry Hub natural gas futures fell 2% to $3.16 per 1 million BTU.
In corporate news, TotalEnergies (TTE) will make varying cuts to prices of diesel and heating fuel from Nov. 1 to Jan. 31, 2027 to help French farmers, fishermen and construction firms navigate the current oil crisis, Bloomberg reported, citing comments from CEO Patrick Pouyanne. TotalEnergies shares were up 2.7%.