European oil stocks climb after latest US strikes on Iran, Trump's AI video

Galp Energia SGPS SA

31/08/2026 08:17

** Shares in European oil and gas firms rise after the U.S. attacked Iran's Larak Island in the Strait of Hormuz and President Donald Trump posted an AI-generated video that he said showed Kharg Island being "blown to smithereens", which an Iranian official dismissed
** Brent crude futures LCOc1 climbed 2.51% to $90.31 a barrel as of 0436 GMT, while U.S. West Texas Intermediate crude CLc1 was up 2.19% at $85.23
** Several hours after Trump's post, there was no evidence Kharg had been attacked; the island handled 90% of Iran's oil exports before the war
** Shares in Repsol REP.MC, Equinor EQNR.OL and Aker BP AKRBP.OL climb about 2%, while those in Maurel & Prom MAUP.PA rise around 3%
** Orlen PKN.WA, TotalEnergies TTEF.PA and OMV OMVV.VI are up 2.2%, 1.4% and 1.5%, respectively
** Eni ENI.MI and Galp GALP.LS rise about 1.5%

(Reporting by Javi West Larrañaga)
((javier.west@thomsonreuters.com; +34 918 35 61 12))