15.06.2026 17:22
After the agreement between the US and Iran, Brent oil prices fell by 5 percent, while shares of European energy companies such as TotalEnergies, Shell, Eni, and bp experienced significant declines. The reopening of the Strait of Hormuz and the lifting of sanctions created a positive trend in markets, but concerns that oil companies' wartime profits would come to an end weighed on stocks.
Following the agreement reached between the US and Iran, shares of European oil companies declined.
US AND ISRAEL REACHED AN AGREEMENT
The war that began with the US and Israel's attack on Iran on February 28 ended with an agreement after negotiations. Pakistani Prime Minister Shehbaz Sharif announced that the US and Iran had reached an agreement, stating that "military operations on all fronts, including Lebanon, have been immediately and permanently ceased."
"PERMANENT CEASEFIRE ON ALL FRONTS"
Although the official terms of the agreement have not been announced, the Iranian press shared a text said to be a "14-point draft agreement." According to this text, the parties accept a permanent ceasefire on all fronts, including Lebanon. Washington's commitment not to interfere in the internal affairs of the Tehran administration and the US lifting of the naval blockade against Iran are among the terms of the agreement.
STRAIT OF HORMUZ REOPENED
Additionally, the reopening of the Strait of Hormuz within 30 days "under Iran's regulations" and the lifting of sanctions on Iranian oil and energy products are also included in the "draft agreement." News that trade flow through the Strait of Hormuz will resume led to a drop in Brent crude oil prices. Prices fell by 5 percent.
While markets showed a positive trend due to the agreement, shares of oil companies declined as investors anticipated that the wartime profit increases for these companies would end.
DECLINE IN SHARES OF EUROPEAN OIL COMPANIES
Shares of energy company TotalEnergies saw a 4.8 percent loss at 15:00 Turkish time, while at the same time, Shell's shares fell by 4.7 percent.
Shares of Italy's Eni fell by 4.3 percent, and British bp's shares declined by 3.6 percent.
Shares of Greece-based refinery and trading company Motor Oil Hellas experienced a loss of 3.9 percent.
Meanwhile, it is estimated that it may take months for trade flow to return to normal in the strategically important Strait of Hormuz for global oil supply, and that recovery in supply could take a long time.