European oil stocks rise after renewed U.S.-Iran strikes

Galp Energia SGPS SA

13/07/2026 08:12

** Shares in European oil producers rise after the U.S. and Iran exchanged additional strikes, with Tehran saying it had again closed the Strait of Hormuz
** The renewed attacks are fuelling doubts on the future of an interim U.S.-Iran agreement signed last month, aiming to reopen the vital waterway and end the war
** Metzler says the escalating tension between two countries is likely to drive oil prices higher this week
** "Even though it still left oil prices well beneath their peak earlier in the year, it still revived fears about more persistent inflation," Deutsche Bank says
** Oil prices jump after the recent developments, with Brent futures LCOc1 up 3.7% to $78.82 a barrel by 0706 GMT and U.S. West Texas Intermediate crude CLc1 rising 3.8% to $74.1
** A basket of European energy stocks .SXEP is up 1.4%, among the best performers on the wider STOXX 600 .STOXX index
** Among single stocks Galp Energia GALP.LS, OMV OMVV.VI and Repsol REP.MC are up between 1% and 1.6%
** TotalEnergies TTEF.PA, Maurel & Prom MAUP.PA, Eni ENI.MI and Equinor rise between 2.4% and 2.7%
** Shell PLC SHEL.L and BP BP.L are up 1.8% and 2.7%, respectively
  

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