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Energy Majors Rally as Oil Prices Hit Multi-Month High
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Oil near $92 a barrel lifted BP, Shell, and Total shares 2–3%, reinforcing energy’s leadership amid supply-driven inflation risks.
Energy equities outperformed broader indices as Brent crude climbed to $92 per barrel following U.S. sanctions against Russian oil producers. BP, Shell, and TotalEnergies gained up to 3%. The rally reflects renewed supply constraints coupled with OPEC+ production discipline. Commodity strategists warned that persistent high prices could rekindle inflationary pressure and complicate global rate-cut plans. Investors are rotating capital into the energy sector amid expectations of stronger cash flows and dividend resilience heading into the winter season.