Lower energy prices drag down European energy stocks

Tenaris SA

15/05/2025 09:49

** The European energy stock index .SXEP falls 1.67%, as lower oil prices drag down energy stocks

** Oil prices slide 3% on Thursday, in anticipation of the US-Iran nuclear deal

** The shares in SBM Offshore NV SBMO.AS are down 3.3% despite the Dutch company's in-line results

** "A lower oil price always triggers a share price reaction at SBM Offshore, no matter whether it's completely resilient to such oil price move or not," says ODDO BHF analyst Thijs Berkelder

** "It's a market reaction on the sector as a whole, not the company-specific reaction," he adds

** Italian Tenaris TENR.MI, Norwegian Aker BP AKRBP.OL and Equinor EQNR.OL, as well as Helsinki-listed Neste NESTE.HE slide around 2%

** Vaar Energi VAR.OL and Milano-listed Saipem SPMI.MI, together with Technip Energy TE.PA and Galp Energia GALP.LS slipped around 1.3%

** Subsea 7 SUBC.OL, Repsol REP.MC and Orlen PKN.WA hover about 1% lower

(Reporting by Hugo Lhomedet and Vera Dvorakova)

((Hugo.Lhomedet@thomsonreuters.com; vera.dvorakova@thomsonreuters.com))