European energy stocks lag as oil drops on Iran deal optimism

Eni SpA

25/05/2026 08:56

** European energy stocks lag a broader market bounce, with Brent slipping below $100 per barrel on optimism over a potential U.S.-Iran peace deal

** TotalEnergies TTEF.PA falls as much as 2.4% to a two-week low, while Italy’s Eni ENI.MI and Spain’s Repsol REP.MC drop more than 2%

** Optimism over a potential agreement involving Iran lifts overall risk sentiment, although uncertainty around the reopening of the Strait of Hormuz caps enthusiasm

** Brent crude futures LCOc1 were down $5.09 to $98.45 a barrel at 0705 GMT, while U.S. West Texas Intermediate CLc1 futures were at $91.38 a barrel, down $5.22 - lowest since May 7

** Europe’s oil and gas index .SXEP falls 0.6%, the only sector in negative territory, though still up nearly 33% year to date

 (Reporting by Mateusz Rabiega and Margaux Perrin)

 ((Mateusz.rabiega@thomsonreuters.com))