European oil shares fall as Trump says Iran war deal close

Galp Energia SGPS SA

12/06/2026 08:18

** Shares in European oil companies fall after President Donald Trump said the U.S. and Iran could sign a peace deal as soon as this weekend that would reopen the Strait of Hormuz
** However, Iran countered that it had not reached a final decision on an agreement yet
** A basket of European energy stocks .SXEP is down 1.2%, among the worst performers on the wider STOXX 600 .STOXX index, which is up 1.1%
** Oil prices fall after the comments, with Brent futures LCOc1 falling 2% to $88.57 a barrel by 0708 GMT and U.S. West Texas Intermediate crude CLc1 sliding 1.8% to $86.04 a barrel
** Among single stocks, OMV OMVV.VI, Galp Energia GALP.LS and Repsol REP.MC are down 1.3%, 3% and 3.3%, respectively
** TotalEnergies TTEF.PA, Maurel & Prom MAUP.PA, Aker AKER.OL and Equinor EQNR.OL fall between 3.1% and 4.7%
** Shell PLC SHEL.L and BP BP.L are down 2.4% and 3.2%, respectively

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))