04:11 PM EDT, 06/02/2025 (MT Newswires) -- Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising 1.3%.

The Philadelphia Oil Service Sector index added 1.3%, while the Dow Jones US Utilities index was up 0.2%.

Front-month West Texas Intermediate crude oil was rising 3.6% to $62.96 a barrel, and the global benchmark Brent crude contract was advancing 3.6% to $65.06 a barrel. Henry Hub natural gas futures jumped 7.6% to $3.71 per 1 million BTU.

In corporate news, VivoPower ( VVPR ) shares fell past 7%. VivoPower ( VVPR ) will use BitGo's OTC trading desk and custody platform to build its digital asset treasury strategy as part of their partnership, the companies said Monday.

BP's (BP) Castrol lubricants business has drawn early interest from potential bidders, but some are mulling offers less than the targeted valuation of over $8 billion, the Financial Times reported Sunday. BP shares were up 1.4%.

Exxon Mobil ( XOM ) and BP signed deals Monday with Azerbaijan's state energy company SOCAR, Reuters reported. Exxon shares added 0.7%.

Oklo ( OKLO ) filed Monday a shelf registration statement for the potential sale of up to $1 billion of its securities from time to time. Oklo ( OKLO ) shares fell 0.5%.