Stock Movers BP Up, Lufthansa Down, Fresnillo Drops
Apr 2, 2026
Tiwa Adebayo, Bloomberg reporter on European markets and equities. She explains how a surge in oil after President Trump’s Iran comments sent stocks and bonds lower. She covers BP’s gains from higher crude. She discusses airlines, including Lufthansa, facing fuel-cost risks and why miners like Fresnillo fell amid tariff and energy uncertainty.
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Oil Rally After Trump Update Reverses Market Calm
- Oil surged after President Trump dashed hopes of a quick Iran resolution, reversing yesterday's calming move in energy markets.
- Brent crude jumped as much as 6.7% and stocks fell, driving an inverse move that lifted BP over 4% amid headline-driven volatility.
BP Rises As Oil Spike Lifts Large Energy Names
- Energy stocks like BP, Shell and TotalEnergies outperformed as rising oil prices benefitted integrated producers and refiners.
- BP climbed just over 4% and sat near the top of the Stoxx 600 gainers list on the surge in Brent crude.
Airlines Hurt By Durable Jet Fuel Shortages
- Higher crude translated into steeper jet fuel and diesel costs, pressuring airlines and hitting Lufthansa shares down as much as 5.4%.
- Morgan Stanley cut airline price targets and downgraded Lufthansa to equal-weight citing materially higher-for-longer fuel risk.