By Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) -- Energy stocks rose Monday as oil continued its hot streak and the broad market gained.
The NYSE Arca Oil Index (XOI 1,109, +7.76, +0.71%) rose 0.4% to 1,107. The NYSE Arca Natural Gas Index (XNG 552.75, +3.62, +0.66%) rose 0.3% to 551. The Philadelphia Oil Service Index (OSX 214.37, +2.99, +1.42%) rose 0.4% to 212.
Crude futures moved up 88 cents to $85.75 a barrel. Meanwhile, average U.S. retail gasoline prices hovered around $2.83 a gallon, up from $2.04 a year ago, according to the AAA fuel gauge report.
The Dow Jones Industrial Average (INDU 10,971, +43.83, +0.40%) rose 33 points to 10,960. Dow components Exxon Mobil (XOM 67.93, +0.32, +0.47%) and Chevron (CVX 77.36, +0.67, +0.87%) each rose about 0.6%.
Among stocks in the spotlight, Tesoro (TSO 13.46, -0.93, -6.47%) fell 5% to $13.63 after an explosion at one of its refineries killed five people last week. Separately, Deutsche Bank downgraded the company to hold from buy.
Entergy (ETR 80.60, -1.72, -2.09%) fell 1% to $81.33 after it scrapped plans to spin off its nuclear power unit, Enexus. It's also taking a charge of up to 45 cents a share for costs related to the change. The power firm will also boosted its quarterly dividend by 11% to 83 cents a share. See full story.
SandRidge Energy (SD 7.59, -0.26, -3.31%) fell 6% to $7.37 after it set plans to buy Arena Resources Inc. (ARD 36.97, +2.71, +7.91%) for $1.6 billion in cash and stock. Shares of Arena rose 8% to $36. See full story.
