Published by Global Banking & Finance Review®
Posted on February 23, 2026
1 min readLast updated: April 2, 2026
Add as preferred source on GoogleEurope’s oil and gas index hit a new record above its 2007 peak as Brent neared $72. The sector is up 17% in 2026 vs 6.5% for the STOXX 600, driven by rising crude and Iran tensions.
LONDON, Feb 23 (Reuters) - The European oil and gas stocks index hit a record high on Monday, surpassing a previous record hit in 2007, helped in recent weeks by a rise in the price of oil.
At 1450 in London the basket was up 1.5%. Oil and gas names have added 17% year-to-date versus a 6.5% rise for the pan-European STOXX 600 index.
Brent rose as high as $72.44 a barrel on Monday a six month high. It has risen nearly 19% so far in 2026 as investors worry about U.S. military action in Iran. [O/R]
(Reporting by Lucy Raitano, editing by Alun John)
European oil and gas stocks hit a record high, surpassing the 2007 peak, supported by higher Brent crude prices and geopolitical risk premia.
Oil and gas names have gained about 17% year-to-date, outpacing the broader STOXX 600’s 6.5% rise.
Concern over potential U.S. military action in Iran boosted prices, with Brent touching $72.44, a six‑month high.
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