<div id="readability-page-1">02:05 PM EDT, 05/04/2026 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index increasing 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index was shedding 0.5%.In sector news, oil prices rose as investors weighed military action in the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows. Military tensions were fanning up in Hormuz on Monday, as several ships were struck amid Iranian threats and the US sent in destroyers and fought off further attacks, The Wall Street Journal reported. The skirmishes followed President Donald Trump's initiative to get ships bottled up in the Persian Gulf out through the crucial waterway, the Journal said.Front-month West Texas Intermediate crude oil was rising 3.2% to $105.19 a barrel, and the global benchmark Brent crude contract was advancing 5.1% to $113.69 a barrel. Henry Hub natural gas futures rose 2.9% to $2.86 per 1 million BTU.In corporate news, Chevron's ( CVX ) Q1 financial results set up a &#34;meaningful&#34; acceleration in sequential earnings, with momentum building through the rest of this year and into the first half of 2027, UBS analysts said in a note. UBS kept a buy rating on the stock and increased its price target to $220 from $218. Chevron ( CVX ) shares were rising 0.9%.Hess Midstream ( HESM ) shares added 3.7% after it posted higher Q1 earnings and revenue.ConocoPhillips ( COP ) will add drilling rigs to sustain operational efficiencies, given the duration of Permian inventory, which should ramp production starting in 2027, RBC Capital Markets said in a note. ConocoPhillips ( COP ) shares rose 1.1%. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

HESM

Energy stocks rose on Monday, with the NYSE Energy Sector Index up 0.7% and the State Street Energy Select Sector SPDR ETF increasing by 0.8%. Oil prices surged due to military tensions in the Strait of Hormuz, with West Texas Intermediate crude rising 3.2% to $105.19 a barrel. Chevron's Q1 results indicated strong earnings momentum, prompting UBS to raise its price target to $220. Hess Midstream shares increased by 3.7% after reporting higher Q1 earnings, while ConocoPhillips announced plans to add drilling rigs, leading to a 1.1% rise in its shares.

Sector Update: Energy Stocks Higher Monday Afternoon