Global oil prices continued to rise, lifting European energy stocks at the open, after Mitsubishi UFJ analyst Soojin Kim said tougher demands from the US and Iran have slowed progress toward an agreement to restore normal shipping through the Strait of Hormuz. Brent futures rose for a fourth consecutive session. Equinor gained about 2%, ENI about 2%, Repsol 1.5%, BP and Shell around 1%, and Total 1.3%.

2026-08-11

Global oil prices continued to rise, lifting European energy stocks at the open, after Mitsubishi UFJ analyst Soojin Kim said tougher demands from the US and Iran have slowed progress toward an agreement to restore normal shipping through the Strait of Hormuz. Brent futures rose for a fourth consecutive session. Equinor gained about 2%, ENI about 2%, Repsol 1.5%, BP and Shell around 1%, and Total 1.3%.