European energy stocks rise as Mideast tensions send crude higher

Var Energi ASA

20/04/2026 08:16

Adds opening prices, details

** European oil and gas shares rise sharply as renewed tensions in the Middle East drive crude prices higher

** The ceasefire between the United States and Iran shows signs of fragility after the U.S. seized an Iranian cargo ship on Sunday and Iran vowed to retaliate, while shipping through the Strait of Hormuz remained largely disrupted

** Brent crude futures LCOc1 advanced $4.81, or 5.32%, to $95.19 a barrel by 0638 GMT and U.S. West Texas Intermediate CLc1 was at $88.81 a barrel, up $4.96, or 5.92%.

** Majors BP BP.L, Shell SHEL.L, TotalEnergies TTEF.PA, Eni ENI.MI gain around 3%

** Repsol REP.MC, Neste NESTE.HE and Maurel & Prom MAUP.PA climb 3.4%, 4.3% and 4%, respectively

** Orlen PKN.WA and Galp GALP.LS add about 2.5%

** Norway's Equinor EQNR.OL, Var Energi VAR.OL and Aker BP AKRBP.OL are up 3.5-4.2%

** STOXX Oil & Gas .SXEP top sectoral gainer in Europe, up 1.4% on the day and around 29% YTD

 (Reporting by Javi West Larrañaga)

 ((javier.west@thomsonreuters.com; +34 918 35 61 12))