Energy Stocks Surge on Rising Oil Prices and Strong Company Earnings

Energy stocks got off to a strong start on Monday as oil and gas prices rose. The price of US crude briefly touched $79.53 a barrel, up 1.7%, while natural gas futures increased by 4.2% to $2.77 per million British thermal units.

The Energy Select Sector SPDR Fund, an exchange-traded fund tracking large US energy stocks, rose about 1.2%. Other commodity-tracking vehicles saw similar gains: the United States Oil Fund gained roughly 3.1%, and the United States Natural Gas Fund about 3.9%.

Some companies benefited from their own news as well. Seadrill, an offshore drilling contractor, jumped over 7% after reporting a second-quarter profit on higher revenue and raising its 2026 sales outlook. National Energy Services Reunited, an oilfield services firm, also saw gains following the release of its adjusted earnings and revenue figures.

Eni, a major energy producer in Italy, ticked up as well after EU regulators approved its data-center joint venture with UAE-based Khazna Data Center. This deal shows how some energy giants are pairing fossil-fuel cash flows with newer infrastructure investments.