04:03 PM EDT, 05/04/2026 (MT Newswires) -- Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index increasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.

The Philadelphia Oil Service Sector Index was decreasing 0.2%, and the Dow Jones US Utilities Index was shedding 0.4%.

In sector news, oil prices jumped as fighting in the Iran war flared up again. The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command. Tehran fired missiles and drones at the United Arab Emirates, the UAE's Defense Ministry said in a post on X earlier in the day.

Front-month West Texas Intermediate crude oil climbed 3.2% to $105.22 a barrel, and the global benchmark Brent crude contract jumped 5.5% to $114.10 a barrel. Henry Hub natural gas futures rose 2.5% to $2.85 per 1 million BTU.

In corporate news, Clean Energy Fuels ( CLNE ) shares gained 3.7% after the firm said Monday it is opening six new renewable natural gas stations along major US freight transportation routes to expand its station network.

Chevron's ( CVX ) Q1 financial results set up a "meaningful" acceleration in sequential earnings, with momentum building through the rest of this year and into the first half of 2027, UBS said in a note. UBS kept its buy rating and increased its price target to $220 from $218. Chevron ( CVX ) shares were rising 0.90%.

Hess Midstream ( HESM ) shares climbed 3.8% after it posted higher Q1 earnings and revenue.

ConocoPhillips ( COP ) will add drilling rigs to sustain operational efficiencies, given the duration of Permian inventory, which should ramp production starting in 2027, RBC Capital Markets said in a note. ConocoPhillips ( COP ) shares rose 1.4%.