The Woodside Energy Group Ltd (ASX: WDS) share price is back in the green this afternoon after starting the week out on the wrong foot.
The oil and gas producer's stock dipped by nearly 0.5% earlier today, despite rising oil prices.
Fortunately, it's since turned itself around. At the time of writing, the Woodside share price is $30.33, 0.63% higher than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.81% right now.
Let's look at what might be going on with the energy share on Monday.
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What's going on with Woodside today?
The Woodside share price is back in the green amid higher oil prices.
Global oil prices lifted on Friday with traders tipping demand to continue in the near future, according to CommSec.
The Brent crude oil price increased 1.7% to reach US$119.43 while US Nymex crude rose 0.9% to US$115.07 a barrel.
Of course, higher oil prices could mean good things for oil producers' bottom lines.
Interestingly, the S&P/ASX 200 Energy Index (ASX: XEJ) is one of just two ASX 200 sectors trading lower on Monday.
It's currently down 0.23%, with its fall led by the share prices of Viva Energy Group Ltd (ASX: VEA) and Whitehaven Coal Ltd (ASX: WHC). They've both dropped more than 2.5%.
In fact, only four of the sector's constituents are recording gains right now. The Paladin Energy Ltd (ASX: PDN) share price is up 3.36%.
Joining Paladin and Woodside in the green is Washington H Soul Pattinson and Co Ltd (ASX: SOL) and Worley Ltd (ASX: WOR).
Woodside share price snapshot
The Woodside share price has been outperforming recently.
It's currently 33.8% higher than at the start of 2022.
Woodside shares have also gained 39% over the last 12 months.
Based on the current share price, Woodside Energy has a market capitalisation of $29.65 billion, with nearly 984 million shares outstanding.
