European oil stocks rise as Brent nears $100 on renewed Middle East conflict escalation

Var Energi ASA

09/09/2026 08:18

** Shares in European oil companies rise after fresh fighting in the Middle East stoked fears of a broader regional conflict, driving oil prices to their highest levels since late July
** A basket of European energy stocks .SXEP is up 0.92%, leading the sectoral gains on the wider STOXX 600 .STOXX index
** Brent futures LCOc1 rise 1.6% to $99.43 a barrel by 0708 GMT and U.S. West Texas Intermediate crude CLc1 soars 1.3% to $94.22 a barrel
** A return towards $100 a barrel for Brent crude would likely unsettle markets that have spent much of the year grappling with global inflation fears
** Among single stocks, TotalEnergies TTEF.PA, Vaar Energi VAR.OL, Eni ENI.MI, Neste NESTE.HE and Galp Energia GALP.LS rise 1%-1.6%
** Maurel & Prom MAUP.PA, Equinor EQNR.OL and Repsol REP.MC rise around 2%
** Shell SHEL.L and BP BP.L are up 1% and 1.5%, respectively

(Reporting by Ozan Ergenay)
((ozan.ergenay@thomsonreuters.com))