European oil and gas cos seen falling after Middle East ceasefire deal

Var Energi ASA

08/04/2026 07:52

** Shares in European oil and gas firms are seen falling between 5% and 7% after the U.S. and Iran agreement for a two-week ceasefire sent oil prices down around 15%

** Brent futures LCOc1 fell 13.3% to $94.76 a barrel at 03:30 GMT, while WTI CLc1 slid 15.2% to $95.79 a barrel

** "Given our expectation for a rapid oil price moderation, we expect the highest beta names and the companies with the most oil leverage will be under the most pressure," analysts at Scotiabank say

 (Reporting by Javi West Larrañaga)

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