01:28 PM EST, 02/10/2025 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 1.9%.

The Philadelphia Oil Service Sector index climbed 2.8%, and the Dow Jones US Utilities index was up 0.1%.

Front-month West Texas Intermediate crude oil was rising 1.9% to $72.36 a barrel while the global benchmark Brent crude contract was advancing 1.7% to $75.93 a barrel. Henry Hub natural gas futures rose 5% to $3.47 per 1 million BTU.

In corporate news, Elliott Investment Management has amassed a stake in BP (BP), according to media reports. BP shares jumped 8.1%.