European energy stocks rise as concerns over disruptions in oil supply intensify

As oil prices surge, European energy stocks have risen in opening trading. The US-Iran peace talks remain deadlocked, and market observers are increasingly worried that with oil reserves running out, the energy shock caused by conflict could worsen. Brent crude futures rose 1.7% to $111.14 per barrel, while West Texas Intermediate rose 2.1% to $103.12 per barrel. In the London market, BP rose nearly 2%, Shell rose 1.1%. Spain's Repsol energy rose 2.5%, Italy's Eni rose 1.8%. TotalEnergies in France rose 1.4%.