European Stocks Advance as Key Oil Hub Resumes Operations

European stocks rose after a key UAE oil hub resumed operations, easing concerns about disruptions to energy flows.

The Stoxx Europe 600 Index was up 0.4% by the close in London, after falling as much as 0.5% in earlier trading. Brent crude erased gains to trade around $102 a barrel as the UAE oil terminal of Fujairah restarted after being halted due to a drone strike. The International Energy Agency’s Executive Director Fatih Birol also said the authority could release more stockpiles if needed.