02:39 PM EDT, 06/02/2025 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1.2% and the Energy Select Sector SPDR Fund (XLE) up 0.7%.

The Philadelphia Oil Service Sector index added 0.7%, while the Dow Jones US Utilities index shed 0.3%.

Front-month West Texas Intermediate crude oil was rising 3.2% to $62.72 a barrel, and the global benchmark Brent crude contract was advancing 3.3% to $64.81 a barrel. Henry Hub natural gas futures jumped 7% to $3.69 per 1 million BTU.

In corporate news, 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 0.6%.

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 1.2%.

Hess Midstream ( HESM ) said Global Infrastructure Partners, part of BlackRock (BLK), has fully sold its stake in the company via a public offering completed last week. Hess Midstream ( HESM ) shares added 1.5%.