-- Energy stocks were mixed late Monday afternoon, with the NYSE Energy Sector Index shedding 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.3%.
The Philadelphia Oil Service Sector Index added 1%, and the Dow Jones US Utilities Index was falling 1.2%.
Front-month West Texas Intermediate crude oil was rising 1.4% to $97.89 a barrel, and the global benchmark Brent crude contract was advancing 3.3% to $98.32 a barrel. Henry Hub natural gas futures shed 0.8% to $2.63 per 1 million BTU.
In sector news, the Organization of the Petroleum Exporting Countries on Monday lowered its Q2 oil demand forecast due to the Middle East conflict, but maintained its full-year estimates amid expectations for a rebound in H2. The cartel sees global oil consumption at 105.1 million barrels a day in the ongoing three-month period, it said in its latest monthly market report. Last month, the organization projected demand at 105.6 million barrels per day in Q2.
In corporate news, TotalEnergies (TTE) shares added 0.8% after it said Monday that it has signed a memorandum of understanding with Turkey's state energy company TPAO to pursue exploration opportunities.
Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported. Chevron shares rose 1.7%, and Shell added 0.4%.
GFL Environmental (GFL) agreed to acquire Secure Waste Infrastructure in a 6.4 billion-Canadian-dollar ($4.63 billion) deal that is expected to boost its waste management operations in Western Canada. GFL shares fell 9.6%.
Equinor (EQNR) shares added 0.5% after it said Monday its board has decided to propose a share capital reduction to shareholders through the cancellation of own shares and redemption of shares held by the Norwegian state following its 2025 buyback program.