European oil stocks rise after U.S. launches new strikes on Iran, revokes licence

Galp Energia SGPS SA

08/07/2026 08:18

** Shares in European oil makers rise after the U.S. launched a new wave of strikes against Iran on Tuesday and revoked a licence allowing the country to sell oil
** Deutsche Bank says the developments have reignited concerns about energy supplies and geopolitical risk
** "Iran has condemned both measures as violations of the agreement and vowed a response, raising concerns that the fragile peace process reached last month could unravel before negotiations on a permanent settlement are completed," DB says
** Oil prices rise after the news, with Brent futures LCOc1 up 3.1% to $76.5 a barrel by 0714 GMT and U.S. West Texas Intermediate crude CLc1 rising 3.2% to $72.69
   ** A basket of European energy stocks .SXEP rises 1.3%, among the best performers on the STOXX 600 .STOXX, which is down 0.7% 
** Among single stocks, Vaar Energi VAR.OL, Aker AKER.OL, Repsol REP.MC, Maurel & Prom MAUP.PA and Equinor EQNR.OL are up between 3% and 3.4%
** TotalEnergies TTEF.PA, OMV OMVV.VI and Galp Energia GALP.LS rise between 1.7% and 2.5%
** Shell PLC SHEL.L and BP BP.L are up 1.2% and 2.3%, respectively

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