European oil shares regain some ground after Trump says U.S. will hit Iran hard

Aker BP ASA

02/04/2026 08:15

** Shares in European oil companies pare Wednesday's losses after U.S. President Donald Trump said Washington will hit Iran "extremely hard" over the next two to three weeks, squashing hopes for a de-escalation in the Middle East

** A basket of European energy stocks .SXEP are up 1%

** Oil prices jump after the comments, with Brent futures LCOc1 rising 6.5% to $107.81 a barrel by 0713 GMT and U.S. West Texas Intermediate crude CLc1  surging 6.1% to $106.25 a barrel

** Among single stocks, Orlen PKN.WA, Repsol REP.MC and Maurel & Prom MAUP.PA rise between 1% and 3.2%

** OMV OMVV.VI and TotalEnergies TTEF.PA are up between 1.8% and 2.1%

** Eni ENI.MI and Galp GALP.LS rise 3.2% and 3.4% respectively, while Shell PLC SHEL.L and BP BP.L are up 2.2% and 3%, respectively

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))