International Stocks: “Oil Companies on the Rise”
One of this year’s clear winners is the oil and gas industry. It is benefiting from skyrocketing oil and gas prices. Alongside the industry giants, however, there are also second- and third-tier companies—specifically from Europe.
April 2, 2026. FRANKFURT (Deutsche Börse). The war in Iran is also shaping trading in foreign stocks. “The closure of the vital Strait of Hormuz is currently a decisive factor for both the oil markets and, consequently, the stock markets,” explains Marc Richter, who trades stocks for Steubing AG.
While stock markets as a whole are suffering from the war and high oil and gas prices, there are also beneficiaries: oil and gas companies. For them, the trend this year is almost entirely upward. Exxon Mobil’s (US30231G1022) share price has risen from 103 to 143 euros since the start of the year, while Chevron’s (US1667641005) has gone from 128 to 176 euros. Shell (GB00BP6MXD84), TotalEnergies (FR0000120271), ConocoPhillips (US20825C1045), and OMV (AT0000743059) have also seen strong gains, as have oil service providers such as Halliburton (US4062161017). “Demand for oil and LNG stocks was enormous,” Richter notes. Some companies benefited directly from the oil price, while others benefited indirectly from increased demand for, for example, energy infrastructure.
Up 44 percent.
The oil and gas sector has been the best-performing sector since the start of the year, as figures from the ETF platform justETF show: The top 15 spots on the list of the top 50 sectors are occupied by oil and gas and energy indices. Leading the pack: the MarketVector US Listed Oil Services 10% Capped. This index tracks U.S. oil service providers, serves as the basis for the large VanEck Oil Services ETF (IE000NXF88S1), and has gained 44 percent since the start of the year. European energy companies are also on the rise: The MSCI Europe Energy 20/35 Capped has posted a gain of 38 percent.
- Learn more: justetf.com
Oil Price Forecasts: High, but Not Extremely High
What happens next depends heavily on oil and gas prices. If oil prices fall, the industry could quickly come under pressure again—as has been the case briefly in recent days. “Volatility remains high, and investors’ wait-and-see attitude is palpable,” notes Richter. Goldman Sachs recently revised its oil price forecast for this year upward. The U.S. bank now expects an average Brent price of $85, up from $77 previously, and even $110 in the short term. The current price is $108.
LBBW has also revised its forecasts upward, but does not expect prices to remain high for long: “We now assume that a barrel of Brent will cost $70 by the end of the year,” explains Chief Economist Moritz Kraemer. By mid-2027, the price is expected to drop to $65. “The main reason is the expectation that the war is unlikely to drag on much longer,” he explains. For one thing, Iran’s military capabilities are likely to be significantly diminished following the massive bombardment. “But even more important is that Donald Trump wants to declare victory as soon as possible.”
“Demand for LNG Transport Capacity”
Steubing broker Richter has noticed that many investors are already looking for alternatives to the major oil companies: “Investors are specifically seeking European solutions to reduce political risk in their portfolios,” he explains. One example is Awilco LNG (<NO0010607971) from Norway, which specializes in the transport of liquefied natural gas (LNG). “Over the past year, Awilco has gained nearly 50 percent, but it remains volatile,” Richter notes. On Thursday morning, the stock was trading at 0.28 euros on the Frankfurt Stock Exchange, which is at the same level as at the start of the year; however, it peaked at nearly 0.48 euros earlier this year. “For investors, the stock is currently of particular interest in the context of geopolitical tensions. Rising energy prices and uncertainties in the global gas supply could increase demand for LNG transport capacity.”
Marc Richter
OMV Petrom: “A Strategic Role in Europe’s Energy Security”
Another example: OMV Petrom (ROSNPPACNOR9). The largest oil and gas company in Southeast Europe is headquartered in Romania and is majority-owned by the Austrian OMV Group. “OMV Petrom is characterized by a stable upward trend,” notes Richter. The share price has risen from 0.13 to 0.21 euros over the past twelve months. “The dividend yield stands at 4.5 percent,” he adds. The company produces oil in the Black Sea, among other locations; investors benefit from structural growth in the regional energy market—and a strategic role in European energy security.
By Anna-Maria Borse, April 2, 2026, © Deutsche Börse AG
About the Author
Anna-Maria Borse is a finance and economics editor specializing in financial markets/stock exchanges and economic issues.
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