European Energy Stocks Mixed Despite Oil Posting Gains
Dow Jones15:33
0733 GMT - European oil stocks are mixed at the open despite oil posting gains as traders assess the impact of lost Saudi Arabian volumes after the attack on the country's East-West pipeline. Tightening supplies push Brent crude up 2% to $107.70 a barrel and WTI 2% higher at $103.37 a barrel. Such oil-price gains have tended to push oil stocks higher since the conflict with Iran began. However, only Spain's Repsol records a notable gain, rising 1.5%. Italy's Eni rises 0.4%. Britain's BP falls 0.3% while Shell trades flat. Broader economic sentiment has weakened in recent days following mounting warnings over an AI slowdown and 10-year Treasury yields hitting 5% for the first time since October 2023.
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