03:58 PM EDT, 03/24/2026 (MT Newswires) -- Energy stocks rose late Tuesday afternoon, with the NYSE Energy Sector Index advancing 1.6% and the State Street Energy Select Sector SPDR ETF (XLE) gaining 1.9%.

The Philadelphia Oil Service Sector Index added 1.8%, and the Dow Jones US Utilities Index rose 0.6%.

Front-month West Texas Intermediate crude oil jumped 3.9% to $91.54 a barrel, and the global benchmark Brent crude contract climbed 3.4% to $103.36 a barrel. Henry Hub natural gas futures rose 1.2% to $2.93 per 1 million BTU.

In corporate news, Equinor ( EQNR ) is seeking to broaden its US shale gas operations after a reorganization of its global assets, Bloomberg reported, citing an interview with Vice President for International Exploration and Production Philippe Mathieu. Equinor ( EQNR ) shares were up 1.4%.

Chevron ( CVX ) is planning to buy an initial 20,000 barrels a day of crude oil from Sable Offshore's ( SOC ) platforms off the coast of Santa Barbara, California, Bloomberg reported Tuesday, citing a Chevron ( CVX ) executive. Sable shares jumped past 6%, and Chevron ( CVX ) rose 0.6%.

BP (BP) has been urged by the United Steelworkers union to resume collective bargaining talks, end the lockout at its Whiting refinery in Indiana, and reinstate nearly 1,000 locked-out union members. BP shares were up 2.5%.

Valero Energy ( VLO ) has shut its 380,000-barrel-per-day refinery in Port Arthur, Texas, following an explosion and fire at a diesel hydrotreater unit, multiple media outlets reported late Monday. Valero shares rose 1.8%.