0723 GMT - European energy stocks are down as oil prices fall after President Trump signed an interim agreement to end the Iran war and reopen the Strait of Hormuz--a key waterway through which a fifth of the world's oil is transported. London's Shell and BP are each down around 1.1%, while France's TotalEnergies is down 0.7% and Italy's Eni falls around 0.6%. In early European trading, Brent crude slides 2.3% to $77.71 a barrel, while WTI is down 2.5% to $74.08 a barrel. Both benchmarks have fallen roughly 15% so far this week. "Trump has said the memorandum is in effect, but there is uncertainty over how quickly Iran will fully restore shipping," Tickmill Group's Patrick Munnelly writes. (ian.walker@wsj.com)
(END) Dow Jones Newswires
June 18, 2026 03:24 ET (07:24 GMT)
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