European Oil Majors Rally as Geopolitical Tensions Push Prices Higher -- Market Talk

Dow Jones
01/09

0951 GMT - European energy companies gain as geopolitical risks pushed oil prices higher overnight. U.K. oil majors Shell and BP climb 1.7% and 1.55% respectively, while French TotalEnergies rises 1.7%. Norwegian energy company Equinor gains 2.3%, while Spain's Repsol moves more modestly, gaining 0.7%. Portugal's Galp Energia climbs 1.4%. Oil benchmarks settled more than 3% higher overnight after President Trump renewed warnings against Iran, while a U.S. congressional bill to further sanctions on Russian oil advanced. Meanwhile, merger talks between Galp and Spain's Moeve sent positive signals on the value of Iberian energy companies, Citi analyst Alastair Syme writes. (josephmichael.stonor@wsj.com)

 

(END) Dow Jones Newswires

January 09, 2026 04:52 ET (09:52 GMT)

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