The Oslo Stock Exchange opened with a solid gain, with the main index up 0.82% shortly after trading began.
The positive start was driven by a sharp rise in energy prices, as Brent crude spot prices climbed to $76.39 per barrel, marking a 3.65% increase.
The rally in oil comes amid escalating geopolitical tensions in the Strait of Hormuz.
Iran has recently warned oil tankers to use approved routes or face a forceful response, while Oman’s diplomatic opacity on Hormuz fees has deepened uncertainty around shipping risks.
These developments have kept tanker routes exposed and fueled buying interest in energy commodities.
The surge in crude prices provided a tailwind for Norwegian equities, particularly energy names, offsetting broader market caution.