Sector Update: Energy Stocks Higher Late Afternoon

03:59 PM EDT, 09/28/2026 (MT Newswires) -- Energy stocks advanced late Monday afternoon with the NYSE Energy Sector Index adding 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) rising 0.1%. The Philadelphia Oil Service Sector Index fell 1.3%, and the Dow Jones US Utilities Index shed 0.6%. In geopolitical news, US President Donald Trump turned down Iran's settlement proposal, raising doubts over striking a deal in the near term. Iranian officials have privately expressed doubts about closing a deal with the US to end the conflict and reopen the Strait of Hormuz before the November US midterm elections, Bloomberg reported. West Texas Intermediate crude oil rose 0.7% to $93.05 a barrel, and global benchmark Brent added 1.4% to $105.69 a barrel. Henry Hub natural gas futures slumped 6.1% to $3 per 1 million BTU. In corporate news, BP (BP) is weighing its options for its Brazilian biofuels business, including potentially selling the unit, Bloomberg reported. BP shares rose 0.5%. Azerbaijan's Socar, which controls Italiana Petroli, will put price caps on its fuel throughout Italy, following Eni's (E) earlier move, Italian Foreign Minister Antonio Tajani said in a post on X that was translated by Google. Eni shares gained 1.6%. TotalEnergies (TTE) said it projects 4% in energy production growth per year until 2030. Its shares were down 0.7%. Ramaco Resources (METC) said a federal jury awarded its subsidiary $30 million in damages in an insurance-coverage lawsuit against Federal Insurance and ACE American Insurance, both subsidiaries of Chubb (CB). Ramaco shares rose 0.2%.