BUZZ-European oil, gas companies rise as attacks on Middle East facilities drive crude higher
Equinor EQNR | 38.96 38.44 | +1.06% -1.33% Post |
Shell Plc Sponsored ADR SHEL | 92.21 91.90 | +1.23% -0.34% Post |
BP PLC Sponsored ADR BP | 46.44 46.31 | +1.18% -0.28% Post |
Updates share moves throughout, adds context on brent, Shell in bullets 2-3
** Shares in European oil and gas firms extend morning gains as crude prices surge further and supply risks intensify on key energy facilities across the Middle East
** Benchmark Brent jumps above $119 a barrel from around $115 earlier, after fresh Iranian missile attacks on energy facilities in Qatar, Saudi Arabia and Kuwait
** Shell's SHEL.L 140,000 barrel-per-day Pearl gas-to-liquids plant in Qatar halted production after being hit, tightening expectations for refined fuel supply including diesel and jet fuel
** European gas prices soar to their highest in more than three years, adding further support to energy stocks
** Norwegian companies, which have little or no exposure to the Middle East, lead the gains on STOXX oil and gas subindex .SXEP, which is up around 0.8%
** Equinor EQNR.OL and Var Energi VAR.OL rise around 11%, while Aker BP AKRBP.OL gains more than 6%, all extending winning streaks to a seventh consecutive session
** Equinor hits highest in almost 4 years
** Peers Galp GALP.LS, Maurel & Prom MAUP.PA, Eni ENI.MI, Total Energies TTEF.PA and BP BP.L rise around 3-4%
