European oil stocks fall after Israel's strike on Iran did not disrupt supply
** Shares in European oil and gas companies fall as tensions in the Middle East did not disrupt supply of oil, resulting in lowered prices
** Norway's Equinor EQNR.OL and Aker BP AKRBP.OL are down more than 3%, while Saipem SPMI.MI, BP BP.L, Eni ENI.MI and Shell SHEL.L slide around 2%
** The European oil and gas index .SXEP slips 1.8%
** Brent crude price LCOc1 falls more than 4% to around $73 per barrel on Monday after Israel's strikes on Iran bypassed the country's oil facilities
** "The geopolitical tensions that were keeping the oil bulls on alert near the $70 per barrel level has gone up in smoke," Sqissquote analyst Ipek Ozkardeskaya says
** The analyst adds the medium-term outlook on oil price is bearish
Reporting by Boleslaw Lasocki
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.