Oil prices surged sharply in early trading after reports of renewed attacks in the Middle East, triggering a broad sell-off in equity markets.
The move reflects growing concerns over potential disruptions to energy infrastructure and supply routes in the region.
The rally in crude has provided a tailwind for oil majors, with Petrobras shares advancing more than 3% on the Brazilian exchange, alongside gains for other global producers.
Brent crude prices climbed sharply in early European trading, rising 3.65% to $76.39 per barrel as geopolitical risks in the Middle East continued to weigh on global energy markets.
The price jump reflects persistent concerns over supply stability amid escalating tensions.
The rally in crude has provided a tailwind for oil majors, with Petrobras shares advancing more than 3% on the Brazilian exchange, alongside gains for other global producers.
The sharp move in commodity prices is driving a rotation into energy equities as investors hedge against broader market volatility.