Europe’s main energy stocks index hits highest since 2008

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 26 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 49%
  • Publisher: 92%

Oil News

Index,Totalenergies,Shell

Higher oil prices, geopolitical risks, and global economic uncertainty draw in investors

The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

Global oil major BP was among the top gainers, climbing more than 3% after Reuters reported that UAE’s state-owned oil company recently considered buying BP but that the deliberations did not progress beyond preliminary discussions. Charles Hall, head of research at brokerage Peel Hunt, attributed the gains to greater turbulence in the global economy. “Compared to two months ago, you’ve got oil prices higher and you’ve got a whole load of macro things, and you’ve got the potential of a black swan event.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines