01:50 PM EDT, 06/08/2026 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index up 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.

The Philadelphia Oil Service Sector Index was climbing 3.4%, and the Dow Jones US Utilities Index was shedding 1.6%.

Oil prices were higher in Monday trading, but off session highs, as Iran reportedly halted military operations against Israel after fresh clashes erupted between the two countries. Iran has suspended strikes against Israel, the former's Ministry of Foreign Affairs told CNBC on Monday. The two countries traded strikes on Sunday night, according to reports. Tehran vowed to resume attacks if Israel continues to target Iran-backed Hezbollah in Lebanon, according to the CNBC report.

Front-month West Texas Intermediate crude oil rose 0.9% to $91.34 a barrel, and the global benchmark Brent crude contract was advancing 1.5% to $94.51 a barrel. Henry Hub natural gas futures fell 2.9% to $3.14 per 1 million BTU.

In corporate news, Oklo ( OKLO ) shares gained 2% after the company said it has acquired Armec, a manufacturing and engineering firm, to expand its capabilities in reactor and fuel manufacturing programs.

Eni (E) and Petronas said they have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia. Eni shares rose 1%.

Alliance Resource Partners ( ARLP ) shares were fractionally higher after the company said Monday it has agreed to buy certain general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for about $206.2 million.