This story will be updated throughout the trading day.
Oslo’s stock exchange experienced a volatile session Tuesday, initially rising slightly before reversing course to fall. As of 1:30 PM local time, the main index was down 1.28 percent.
Meanwhile, oil and gas prices continued their upward trend.
Brent crude oil was trading at $83.40 a barrel, a gain of $5.40 since midnight.
At its peak, the price of oil reached $85 a barrel, the highest level since mid-2024, according to Infront.
Gas prices were up as much as 50 percent earlier Tuesday. By 1:30 PM, the price stood at 57 euros per megawatt-hour, a 29 percent increase for the day.
– The oil market has more storage capacity, but in the gas market, unrest has a very rapid impact and can lead to very large price increases, said commodity analyst Ole Hvalbye to E24.
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Oil Stocks on the Exchange: – Sell When the Bombs Fall
Monday saw strong performance for several major companies on the Oslo Stock Exchange, driven by significant gains in oil and gas prices. Equinor shares closed up more than 8 percent.
– Investors’ eyes are all on the Middle East and the conflict in Iran, Nordnet analyst Roger Berntsen wrote in a morning report.
Here’s how some of the most traded stocks are performing as of 1:30 PM:
- Equinor is up 1.61 percent
- Frontline is down 2.88 percent
- Vår Energi is up 2.18 percent
- Aker BP is up 2.16 percent
- DNB is down 2.39 percent
- Kongsberg Gruppen is down 1.00 percent
Downward Trend in Global Markets
European stock exchanges are experiencing significant declines Tuesday.
Shortly before 1:30 PM, the DAX index in Frankfurt was down 3.78 percent. The Ibex 35 index in Madrid is down more than 4.5 percent, and the Paris stock exchange is down 3.06 percent. The Stockholm stock exchange is also down nearly 3 percent.
Pre-market indicators point to further declines on Wall Street:
- S&P 500 futures are down 1.69 percent
- Nasdaq futures are down 2.19 percent
- Dow Jones futures are down 1.68 percent
This follows the trend seen in Asian markets, which largely closed lower earlier in the day.
The Seoul stock exchange, which was closed Monday, fell more than 7 percent at close Tuesday, with tech giants contributing to the decline.
Warning of New Wave of Iran Attacks
The conflict in the Middle East continues to escalate Tuesday.
The Israeli military says it has carried out new airstrikes against Hezbollah targets in Beirut, Lebanon. Images from the city show heavy black smoke, according to VG.
Reuters reports that a fire broke out at the U.S. Embassy complex in Riyadh, Saudi Arabia, following a drone attack. U.S. Citizens are now being urged to evacuate the Middle East “due to serious security risks,” according to VG.
In a phone interview with CNN Monday, President Donald Trump said that the “big wave” of attacks against Iran has not yet come.
– We are going to kick their ass. I feel it’s going very well. It’s very powerful. We have the best military in the world and we’re using it, Trump said.
Meanwhile, the strategically important Strait of Hormuz, through which around 20 percent of the world’s oil supply passes, is effectively closed.
– We will not allow a single drop of oil to leave the region, said Ebrahim Jabbari, an advisor to the Revolutionary Guard, on Iranian TV Monday evening.
– We will set fire to any ship that attempts to pass through the strait.
BW LPG Reports Strong Results
The earnings season on the Oslo Stock Exchange is largely complete, but a few results are still being released.
Gas carrier BW LPG has released fourth-quarter results Tuesday morning.
Pre-tax profit for the period ended at $129.8 million, up from $41.8 million in the fourth quarter of 2024. Operating profit rose to $140.8 million, up from $47.4 million.
BW LPG said that the immediate market situation following the outbreak of war between the U.S./Israel and Iran has been increased demand for U.S. Cargoes, higher spot rates and longer sailing distances. The company also noted that a prolonged conflict could negatively impact rates.
The stock is up 3.09 percent shortly after 1:30 PM.
Share Buyback Program Announced
IT consulting firm Bouvet announced that it will buy back up to one million of its own shares for use in its employee share program.
The total purchase price is up to 70 million kroner, according to a stock exchange announcement.
The share purchases will be carried out in defined periods between March 3 and October 1, 2026. Bouvet currently holds 437,585 of its own shares.
The stock is down 0.61 percent.
Secures Billion-Krone Contract
Wallenius Wilhelmsen has signed a contract with a global car importer.
The shipping company estimates the deal has a net freight value of around $190 million (approximately 1.8 billion kroner).
The agreement is for a period of two years, with mutual options for extension for one year.
The stock is down 0.022 percent shortly after 1:30 PM.
Follow the stock day and see more news in E24’s Stock Live.
