European oil stocks rise against the market trend, boosted by oil prices

Golden Ten Data, March 9 – Due to supply concerns triggered by production cuts by some major oil-producing countries in the Middle East, European oil companies became one of the few stocks to rise. Shares of Shell and BP rose by 1.9% and 0.7% respectively. Portugal's Galp increased by 1.6%, and Finland's Neste rose by 0.4%. Analysts at Société Générale wrote in a report that uncertainty over the duration of disruptions in the Strait of Hormuz has intensified the high level of oil prices. Iran's appointment of Mojtaba Khamenei as the country's new Supreme Leader indicates that the Islamic Revolutionary Guard Corps will continue and strengthen, rather than compromise.