Oil Stocks Rise as Brent Hits $107.31 Amid Market Split

European oil stocks performed differently from the broader market on Monday morning, despite Brent crude prices reaching $107.31 per barrel.

Brent futures rose 2.6% to $107.31 at 06:55 UTC, up from Friday's reference price of $104.61. This increase has turned oil into a wider inflation risk, affecting industry earnings and production costs.

The four major European oil companies - BP, Shell, TotalEnergies, and Equinor - saw their stocks rise, but not as much as the increase in Brent prices. BP gained 1.4% to 572.3 pence, Shell rose 1.0% to 3,587 pence, TotalEnergies added 1.1% to €79.66, and Equinor advanced 1.3% to NOK421.10.

The Euro Stoxx 50 index was down 0.5%, showing a split in the market's response to the rising oil prices. Investors are rewarding energy companies with near-term cash exposure, but marking down businesses that must absorb higher fuel and financing costs.