---
title: "Oil prices plummeted after Trump signed the Iran war agreement, and European energy stocks fell"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290157040.md"
description: "After Trump signed a temporary agreement to end the Iran war and reopen the Strait of Hormuz, global oil prices plummeted. Brent crude and West Texas Intermediate fell by 2.3% and 2.5% respectively, with a cumulative decline of about 15% this week. As a result, European energy stocks generally fell, with Shell, BP, TotalEnergies, and Eni experiencing varying degrees of decline"
datetime: "2026-06-18T07:28:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290157040.md)
  - [en](https://longbridge.com/en/news/290157040.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290157040.md)
---

# Oil prices plummeted after Trump signed the Iran war agreement, and European energy stocks fell

Oil prices fell and European energy stocks declined after U.S. President Trump signed a temporary agreement to end the Iran war and reopen the Strait of Hormuz. The Strait of Hormuz is a critical waterway through which one-fifth of the world's oil transportation passes. Shell in London and BP p.l.c. both fell about 1.1%, TotalEnergies SE in France dropped 0.7%, and Eni Spa-Sponsored in Italy declined about 0.6%. In early European trading, Brent crude fell 2.3% to $77.71 per barrel, while West Texas Intermediate dropped 2.5% to $74.08 per barrel. So far this week, both benchmark crude oils have fallen about 15%. Patrick Munnelly of Tickmill Group wrote, "Trump has stated that the memorandum is in effect, but there is uncertainty about how quickly Iran can fully restore shipping."

### Related Stocks

- [SHEL.US](https://longbridge.com/en/quote/SHEL.US.md)
- [E.US](https://longbridge.com/en/quote/E.US.md)
- [BP.UK](https://longbridge.com/en/quote/BP.UK.md)
- [TTE.US](https://longbridge.com/en/quote/TTE.US.md)
- [BP.US](https://longbridge.com/en/quote/BP.US.md)
- [SHEH.US](https://longbridge.com/en/quote/SHEH.US.md)
- [SHEL.WI.US](https://longbridge.com/en/quote/SHEL.WI.US.md)
- [EIPAF.US](https://longbridge.com/en/quote/EIPAF.US.md)

## Related News & Research

- [TotalEnergies could begin drilling in Suriname next year, executive says](https://longbridge.com/en/news/290704202.md)
- [Shell Built A Tiny EV With Hyper-Fast Charging And A New Cooling System](https://longbridge.com/en/news/290990460.md)
- [German business confidence edges higher on hopes Iran tensions ease](https://longbridge.com/en/news/290666848.md)
- [Paul Krugman says Trump's hope for economic relief from the Iran war faces 3 major pain points](https://longbridge.com/en/news/290599880.md)
- [Donald Trump Jr. Says Oil Futures Under $70 Thanks To His Dad's Iran Deal: 'Lower Gas Prices Coming For Americans'](https://longbridge.com/en/news/290799311.md)