European oil and gas stocks hit record high
European oil and gas stocks just hit their highest level ever, beating the previous record from 2007.
As of February 23, 2026, the sector is up a huge 17% this year—way ahead of the broader STOXX 600 index's 6.5% gain.
Energy stocks drive gains in European market
Energy stocks have helped drive recent gains in the European market. The STOXX 600 closed at an all-time high, with energy shares jumping nearly 4%.
Big indices like London's FTSE 100 and Paris's CAC 40 also reached new peaks—so if you're following markets or thinking about investing, this is a big deal.
Brent crude prices rise on US-Iran tensions
The main driver: Brent crude oil prices rose as high as $72.44 per barrel—a six-month high—amid investor worries about possible US military action against Iran.
Plus, shares of TotalEnergies jumped almost 3% after the company reaffirmed its reserve-expansion commitment.