Brent crude has surpassed $117 due to fears of supply disruptions in the Persian Gulf, while Dutch natural gas approaches €100 per megawatt hour.
According to RTVE, the Brent barrel, a European benchmark, exceeded $117 during the session on Monday, October 26, while West Texas, the US benchmark, remains around $102.
The rise is attributed to fears of supply disruptions from the Persian Gulf, where Iran continues to attack vessels near the Strait of Hormuz, a key route for global crude transport. The Iranian Army claimed on Sunday that it had shot down a US attack drone over the city of Bandar Abbas.
Natural gas in the Netherlands market has risen by more than 3%, reaching €96.62 per megawatt hour, and is approaching €100. Meanwhile, Israeli Prime Minister Benjamin Netanyahu warned Iran and its allies on Sunday that they would face "disproportionate" and "crushing" blows if they attack Israel.
On the financial calendar, the Federal Reserve will decide on Wednesday, the European Central Bank on Thursday, and the Bank of Japan on Friday. Market consensus does not expect changes in interest rates in November, although increases are anticipated in December.
In the Spanish stock market, the Ibex 35 opened in the red due to the results of the elections in Brazil, with Lula da Silva defeating Flávio Bolsonaro, but closed up 0.23%, above 19,000 points. Major European indices also closed positively: Milan gained 1.29%, Frankfurt 0.91%, Paris 0.83%, and London 0.72%.
The largest declines were among multinationals with significant business in Brazil: Telefónica fell 6.41% and Banco Santander 3.09%. Repsol dropped 0.03%, while BBVA rose 2.25%, Inditex 0.88%, and Iberdrola 0.32%.
The biggest gains on the Madrid stock exchange were for Grifols, up 5.31%, and Indra, up 4.14%, benefiting from the UK announcement to increase its defence budget. Rounding out the list are IAG (3.96%), Solaria (3.46%), and ACS (2.97%).
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