01:45 PM EDT, 10/13/2025 (MT Newswires) -- Energy stocks rose Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each adding 1.2%.

The Philadelphia Oil Service Sector Index climbed 2.1%, and the Dow Jones US Utilities Index gained 0.9%.

West Texas Intermediate crude oil rose 1.2% to $59.59 a barrel, and global benchmark Brent advanced 1.1% to $63.40 a barrel. Henry Hub natural gas futures increased 0.2% to $3.11 per 1 million BTU.

In sector news, the Organization of the Petroleum Exporting Countries left its global oil demand growth projections for 2025 and 2026 largely unchanged and said that concerns about a potential new tariffs war between the US and China have added uncertainty to the overall trade backdrop. The group now expects oil consumption to rise by 1.30 million barrels a day this year, up slightly from its previous estimate of 1.29 million barrels, according to a report released Monday.

In corporate news, Bloom Energy ( BE ) shares surged 30% after the company announced a $5 billion partnership with Brookfield Asset Management ( BAM ) to deploy its fuel cell technology in building AI infrastructure.

Baker Hughes ( BKR ) has seen a tariff impact of over $100 million this year, in line with its guidance provided in April, Bloomberg reported Monday, citing Chief Executive Lorenzo Simonelli. Baker Hughes ( BKR ) shares were up 1.4%.

Exxon Mobil ( XOM ) is trimming its investment in Europe and selling assets as the EU's climate and human rights regulations are "slowing things down," Chief Executive Darren Woods said on the stage at the Energy Intelligence Forum conference in London, Bloomberg reported. Exxon shares rose 1%.