Sector Update: Energy Stocks Rise Monday Afternoon

02:05 PM EDT, 09/28/2026 (MT Newswires) -- Energy stocks advanced Monday afternoon, with the NYSE Energy Sector Index adding 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) increasing 0.2%. The Philadelphia Oil Service Sector Index fell 0.6%, and the Dow Jones US Utilities Index shed 0.5%. 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 Monday, citing people with knowledge of the matter. Trump had mentioned on Sunday that he expects US negotiators to engage in more talks with Iran this week, Axios reported, citing a conversation with the president. West Texas Intermediate crude oil rose 0.2% to $92.61 a barrel, and global benchmark Brent added 0.8% to $105.18 a barrel. Henry Hub natural gas futures fell 4.9% to $3.04 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 0.9%. TotalEnergies (TTE) said it projects 4% in energy production growth per year until 2030. Shares eased 0.3%. Azerbaijan's Socar, which controls Italiana Petroli, will put price caps on its fuel throughout Italy, following Eni's (E) earlier move in the country, Italian Foreign Minister Antonio Tajani said in a post on social media platform X that was translated by Google. Eni shares rose 1.7%.