03:19 PM EDT, 03/31/2025 (MT Newswires) -- Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 0.7% and the Energy Select Sector SPDR Fund (XLE) adding 1.2%.

The Philadelphia Oil Service Sector index was up 0.7%, and the Dow Jones US Utilities index climbed 1%.

Front-month West Texas Intermediate crude oil popped 3.1% to $71.51 a barrel, and the global benchmark Brent crude contract advanced 1.5% to $74.74 a barrel. Henry Hub natural gas futures were 1.5% higher at $4.12 per 1 million BTU.

In sector news, the White House is considering an executive order to expedite deep-sea mining permits, potentially bypassing the United Nations-backed International Seabed Authority, Reuters reported.

In corporate news, GE Vernova ( GEV ) shares added 0.5% after it said Monday it's partnering with the Massachusetts Institute of Technology to advance energy technologies and develop future industry leaders.