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Commodities

Vallourec Rides Brent Oil Surge to 2.37% Gain

Guavy AI Editorial Team
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Oil
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The stock of Vallourec rose significantly during trading on September 3rd, bucking the trend of a slightly lower SBF 120 index.

The surge in Brent crude oil prices above $97 per barrel was driven by escalating tensions between Iran and the United States around the Strait of Hormuz.

Vallourec, a manufacturer of seamless tubes, is directly exposed to oil and gas activity and therefore benefits from the upward dynamics in crude oil prices.

The stock gained 2.37% during trading at €19.00, making it one of the strongest gainers on the SBF 120 index while the Parisian index fell 0.14% and the CAC 40 retreated 0.26%.

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