European oil shares rose on 9 September 2026 as renewed fighting and a wider regional conflict in the Middle East pushed benchmark crude prices toward $100 a barrel.
Brent crude futures gained 2.1% to $99.93 by 04:09 ET (08:09 GMT), the highest level since late July, after rising by roughly 25% since early August. U.S. West Texas Intermediate crude jumped 1.4% to $94.31 a barrel.
The STOXX Europe 600 Oil & Gas Index gained 0.8%, leading sector advances on the broader Stoxx 600. TotalEnergies, Eni, Neste and Galp Energia rose between 1.2% and 1.9%, while Maurel & Prom edged up 0.8%. Equinor rose 3.1%, with ticker data showing a 4.24% gain; Repsol gained 2.1%, or 1.69% in ticker data. Shell climbed 1.2%, or 0.22% in ticker data, and BP rose 1.8%, or 1.27% in ticker data.
The price move followed fresh fighting in the region. Iranian-backed Houthi forces in Yemen launched strikes on several Saudi cities, drawing a key U.S. ally further into a six-month-old conflict. U.S. forces struck multiple Iranian oil tankers, while Iran targeted a U.S. base in Jordan and attacked shipping vessels.
The attacks risk deepening disruptions to Middle East oil supplies already strained by strikes on regional energy infrastructure and critical shipping lanes.
