Sector Update: Energy Stocks Rise Wednesday Afternoon

02:08 PM EDT, 10/28/2026 (MT Newswires) -- Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.6%. The Philadelphia Oil Service Sector Index was adding 0.5%, and the Dow Jones US Utilities Index declined 0.5%. In geopolitical news, the US has asked several Gulf Arab countries to be prepared for an intense military campaign after the US midterm elections, The Wall Street Journal reported, citing people briefed on the conversations. Separately, Iran-aligned Houthi militants said Tuesday they launched a missile at Saudi Arabia's biggest oil refinery, although the Kingdom didn't immediately confirm the attack, Reuters reported. Front-month West Texas Intermediate crude oil rose 3.1% to $103.00 a barrel, and the global benchmark Brent crude contract added 1.7% to $115.76 a barrel. Henry Hub natural gas futures gained 4.2% to $2.81 per 1 million BTU. In corporate news, GE Vernova (GEV) said it has agreed to buy high-voltage grid equipment manufacturer Trench Group from Triton Partners for about $9 billion to create scale for its Electrification product lines. Shares were down 0.6%. Exxon Mobil (XOM) and Venezuelan-owned Citgo Petroleum have acquired the first shipload of Venezuelan crude oil to distill in their refineries under a deal between the US and North American Blue Energy Partners, NABEP said. Exxon shares rose 1.5%. TotalEnergies (TTE) has acquired a 25% working interest in 26 Chevron-operated (CVX) exploration blocks in the US, expanding their partnership, the French energy major said Wednesday. TotalEnergies and Chevron shares were each rising about 1%.