ADRs in Focus: Shares of Petrobras rise

The Brazilian company's ADR rose $1.44, or 2.2 percent, to $66.71 in the afternoon session. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.

Crude oil prices rose on the New York Mercantile Exchange after Saudi Arabia said it would not boost production by more than 200,000 barrels a day. Concerns about Nigerian production also weighed on investors' minds. Light, sweet crude rose $1.56 to $136.92 per barrel on the New York Mercantile Exchange.

Meanwhile, Transocean Inc., the world's largest offshore oil drilling contractor, said Monday it has signed a 10-year drilling contract with units of Petrobras and Japanese conglomerate Mitsui & Co.

The company will buy a newly built ultra-deepwater drillship from Petrobras and Mitsui, who will spend about $750 million jointly to build it, through a 20-year capital lease contract.

Elsewhere in the emerging markets oil and gas sector, shares of Hong Kong's Cnooc Ltd. rose $7.43, or 4.7 percent, to $166.18, and shares of Argentina's Petrobras Energia Participaciones SA gained 17 cents to $12.31.

The Bank of New York Emerging Markets ADR Index--which includes shares of companies based in China, Mexico, Brazil and more--gained 1.53 points to 349.85. The Bank of New York Composite ADR Index gained 0.57 points to 168.88 as the U.S. markets were mixed in afternoon trading.