European oil, gas companies rise as attacks on Middle East facilities drive crude higher

Var Energi ASA

19/03/2026 14:52

Updates share moves throughout, adds context on brent, Shell in bullets 2-3

** Shares in European oil and gas firms extend morning gains as crude prices surge further and supply risks intensify on key energy facilities across the Middle East

** Benchmark Brent jumps above $119 a barrel from around $115 earlier, after fresh Iranian missile attacks on energy facilities in Qatar, Saudi Arabia and Kuwait

 ** Shell's SHEL.L 140,000 barrel-per-day Pearl gas-to-liquids plant in Qatar
halted production
 after being hit, tightening expectations for refined fuel supply including diesel and jet fuel

 ** European
gas prices soar
 to their highest in more than three years, adding further support to energy stocks

** Norwegian companies, which have little or no exposure to the Middle East, lead the gains on STOXX oil and gas subindex .SXEP, which is up around 0.8%

** Equinor EQNR.OL and Var Energi VAR.OL rise around 11%, while Aker BP AKRBP.OL gains more than 6%, all extending winning streaks to a seventh consecutive session

** Equinor hits highest in almost 4 years

     ** Peers Galp GALP.LS, Maurel & Prom MAUP.PA, Eni ENI.MI, Total Energies TTEF.PA and BP BP.L rise around 3-4%

(Reporting by Jesus Calero)

((jesus.calero@thomsonreuters.com))