European energy stocks rise as oil outlook continues to worry investors

Matt Britzman of Hargreaves Lansdown wrote that oil continues to worry investors as hopes for a breakthrough in US-Iran negotiations face new uncertainties. The two countries clashed again over the weekend, with the US striking what it called air defense radar and drone bases. This pushed Brent crude oil futures up nearly 3% to $93.82 per barrel, while West Texas Intermediate rose 3.2% to $90.12 per barrel. On the London market, Shell was up 1.1%, BP rose 0.7%, and Harbour Energy gained 2.2%. France’s TotalEnergies, Spain’s Repsol, and Italy’s Eni all rose by around 1%.