5:16 PM · 24 September 2026

Market Wrap: Further rise in oil prices weighs on European stocks (24.09.2026)

Major European benchmarks are posting losses today. France's CAC 40 is down 0.4%, while the DAX has shed 0.3%. Indices are primarily weighed down by higher crude oil prices. Despite yesterday's contract rollover, Brent crude is trading near $100 per barrel once again.

Expectations for interest rate hikes across major economies have heightened following yesterday's publication of September PMI indicators, further creating an unfavourable backdrop for equity markets. It is worth noting that US data proved consistent with a GDP growth rate in the region of 5%.

Equities

The pan-European Euro Stoxx 50 index is recording a modest decline today (-0.2%). Among the biggest laggards are Nokia (-4.1%), BNP Paribas (-3.1%), and Infineon Technologies (-2.8%).

Figure 1: Dashboard for Euro Stoxx 50 (24.09.2026)

Source: XTB Research, 24.09.2026

Commodities

Brent crude is hovering around $100 per barrel once again after diplomatic talks at the UN General Assembly hit a stalemate. Iranian President Masoud Pezeshkian stated that while Tehran remains open to peace talks, it will never "bow down".

Yesterday, the UK Maritime Trade Operations (UKMTO) agency reported another attack on a cargo vessel in the region, which sparked a fire and prompted the evacuation of its crew.

Figure 2: Brent and WTI Crude Oil (2026)

Source: XTB Research, 24.09.2026

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