European Energy Stocks Poised to Gain from Higher Oil Prices

The recent conflict around the Strait of Hormuz has pushed energy prices higher, contributing to German inflation reaching 2.9% in August.

This surge in fuel costs is affecting some areas of the market while benefiting others, particularly European energy stocks that are exposed to these price shocks.

Among them are Deutsche Rohstoff (XTRA:DR0), OKEA (OB:OKEA), and Harbour Energy (LSE:HBR), which offer pure upstream exposure in a European listing and tie their fortunes directly to regional oil and gas pricing.

Deutsche Rohstoff, for example, explores and produces crude oil and natural gas, as well as holding minority interests in metals projects. The company has seen a step-up in development activity, with plans to run three operated rigs and drill around 26 wells through 1876.