Galp shares fell 4% in trading, as the Portuguese energy company’s strong first-half financial results were overshadowed by a sharp decline in crude oil prices.
Despite reporting a 44% increase in profits for the first six months of the year, the stock could not hold its ground amid broader turbulence in the European energy sector.
The sell-off reflects a wider market dynamic where falling commodity benchmarks are pressuring energy equities across the continent.
Crude oil prices have been sliding as shipping activity through the Strait of Hormuz shows signs of stabilizing, removing a key geopolitical premium that had previously supported energy valuations.
This easing of transit risks has contributed to a significant weekly decline in oil benchmarks, dragging down sector sentiment.
The pressure on Galp mirrors moves seen elsewhere in the energy complex.