The Oslo Stock Exchange opened in negative territory on Thursday, with the main index down 0.28% shortly after the opening bell.
The modest decline was driven by sharp selling in Europris, which fell significantly following the release of a weaker-than-expected quarterly report.
The retailer's underperformance weighed on the broader market sentiment, offsetting gains in other sectors.
Brent crude spot prices also retreated, trading at $77.80 per barrel, down 2.21% from the previous close.
The drop in oil prices reflects a continued easing of the risk premium associated with geopolitical tensions in the Gulf and Africa, a theme that has dominated energy markets in recent weeks.
As the risk premium fades, investors are repricing energy assets, leading to volatility in both commodity and equity markets.