European energy stocks seen rising as Mideast tensions send crude higher

Var Energi ASA

20/04/2026 07:59

** European oil and gas companies are seen rising 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 remains largely disrupted

** Brent crude futures LCOc1 advanced 5.62% to $95.46 a barrel by 0418 GMT and U.S. West Texas Intermediate CLc1 was at $88.86 a barrel, up by 5.97%

** Majors BP BP.L, Shell SHEL.L, TotalEnergies TTEF.PA, Eni ENI.MI Repsol REP.MC up around 2-5% premarket. Equinor EQNR.OL, Var Energi VAR.OL, Aker BP AKRBP.OL also up

** STOXX Oil & Gas .SXEP up around 27% YTD

 (Reporting by Javi West Larrañaga)

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