0731 GMT - European oil companies trade up in opening trade after getting a boost from rising oil prices. Brent crude prices are up 0.8% at $70.08 a barrel as seasonal travel demand provides some support to prices, head of equity research at Hargreaves Lansdown Derren Nathan writes. In London, BP trades up 1.5% and Shell rises 1.2%. France's TotalEnergies rises 0.9%; Italy's Eni, Spain's Repsol and Portugal's Galp rise around 1%. Consumption in July is edging slightly above last year's levels to 105.2 million barrels a day, Nathan writes. However, tariff uncertainty and the prospect of a glut of oil supply means markets haven't managed to fully erase losses seen earlier in the week, he adds.(adam.whittaker@wsj.com)

(END) Dow Jones Newswires

July 18, 2025 03:31 ET (07:31 GMT)

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