Energy Stocks Rise 1.2% After US Strikes

On 8 July 2026, the United States announced a new wave of airstrikes against Iran, targeting more than 80 coastal sites, including air‑defence systems, command‑and‑control networks, anti‑ship missile installations and over 60 small boats near the Strait of Hormuz. In the same announcement, the U.S. revoked a licence that had permitted Iran to sell oil, reigniting concerns about potential disruptions to global energy supplies and threatening the fragile cease‑fire agreed on 17 June.

The market reaction was immediate. Brent crude futures climbed 2.2 % to $75.81 per barrel by 03:52 ET (07:52 GMT), while U.S. West Texas Intermediate rose 2.1 % to $71.90 per barrel. European energy equities responded positively: a basket of European oil and gas stocks gained 1.2 %, making the sector one of the best‑performing groups on the STOXX 600, which overall slipped 0.7 %.

Individual stock movements included:

  • BP Ltd up 1.6 % (some feeds listed a 3.85 % rise).
  • Shell plc up 0.6 % (other sources noted a 1.83 % increase).
  • Equinor ASA, Vaar Energi, Aker, Repsol, and Maurel & Prom each rose between 1.5 % and 3.2 %.
  • TotalEnergies SE, OMV AG, and Galp Energia posted gains ranging from 1.1 % to 2.2 %.
  • Maurel & Prom and Vaar Energi were highlighted with gains of 3.85 % and 3.89 % respectively in ticker‑specific tickers.
  • MAUP (Maurel & Prom) showed a 4.92 % increase, while AKER rose 2.83 %.

The Wall Street Journal reported that U.S. officials described the operation as four to five times larger than any previous strikes since the June 17 memorandum of understanding that aimed to reopen the Strait and wind down hostilities. Iran retaliated by launching drones and ballistic missiles at U.S. bases in Bahrain and Kuwait, triggering sirens across both Gulf states. Tehran condemned the licence revocation as a breach of the agreement and pledged a response.

Deutsche Bank analysts noted that the developments revived worries about energy‑supply security and heightened geopolitical risk, warning that the fragile peace process could unravel before a permanent settlement is reached. The U.S. maintained that the cease‑fire remains in effect, according to the WSJ report.