Oil Stocks Surge 6% on Hormuz Tensions

Global oil stocks jumped as Brent crude surged over 6% to $95.88/bbl and WTI to $87.79/bbl amid renewed Hormuz tensions.
Major oil equities rose, with BP +3.1%, Shell +2.5%, TotalEnergies +2.5%, Galp +2.3% and Eni +3.2% in London trading.
Iran reversed its open‑strait stance, attacked two Indian vessels, while a U.S. Navy destroyer seized an Iranian cargo ship, heightening geopolitical risk.
Over 20 vessels, including oil products and fertilizers, transited the strait on Saturday—the busiest day since March 1—keeping flow despite tensions.