European Energy Stocks Fall as Oil Slips on Moderating Geopolitical Risk
Dow Jones
Yesterday
0725 GMT - European energy stocks open lower Friday morning as oil prices continue to slide. The pullback in prices largely reflects a perception that geopolitical risks are moderating, MUFG's Soojin Kim writes. Diplomatic efforts are stepping up while China and other partners are reported to have urged Iran to restrain Houthi attacks near Bab el-Mandeb Strait, Kim adds. This pushes Brent crude down 1.9% to $102.87 a barrel while WTI falls 1.7% to $100.15 a barrel. In London, Shell and BP both fall around 1%. Spain's Repsol drops 1.5% and Italy's Eni is 1.4% lower. Norway's Equinor falls 0.5%.
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