The Woodside Energy Group Ltd (ASX: WDS) share price is among the top performers on the S&P/ASX 200 Index (ASX: XJO) on Tuesday.
At the time of writing, the Woodside share price is $32.52, 4.03% higher than its previous close.
For context, the ASX 200 is currently recording a 0.36% gain.
Let's take a look at what might be bolstering the ASX 200 energy giant's stock today.
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Woodside share price outperforms on Tuesday
The Woodside share price is driving the ASX 200 and its home sector higher on Tuesday despite the company's silence.
The S&P/ASX 200 Energy Index (ASX: XEJ) is currently the market's top-performing segment, lifting 2.48% right now.
Its gains have likely come on the back of rising oil prices. The price of Brent crude oil increased 1.7% to US$113.50 a barrel overnight. Meanwhile, US Nymex crude oil's value lifted 2.1% in after-hours trade to US$110.66 a barrel.
Their rises came amid supply concerns born from unrest in Libya and Ecuador, as well as sanctions against Russian oil, Reuters reported. The publication also noted a strike could see Norway's oil production slip 8% this week.
The price of thermal coal also lifted overnight, rising 2.2% to trade at US$396.45 a tonne. On top of that, uranium futures rose 0.79% to US$51.25 a pound.
The share price of uranium producer Paladin Energy Ltd (ASX: PDN) is trading in Woodside's shadow today, gaining 3.95% at the time of writing.
Worley Ltd (ASX: WOR) is the sector's third-best performer right now, recording a 1.63% gain.
