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European energy stocks dip as oil surges; Indonesian gas asset gains

Wall Street Journal Markets •
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European energy stocks slipped as oil rose on Middle East tension. London‑listed BP fell 0.8% and Shell slipped 0.2%, while France’s TotalEnergies and Italy’s Eni lost 0.65% and 0.7% respectively. Brent crude climbed 2.5% to $105.19 a barrel and WTI futures rose 2% to $98.25, reflecting heightened geopolitical risk.

UOB Kay Hian lifted Energi Mega Persada’s target to 1,870 rupiah from 1,700, noting a bright outlook for its Bentu gas asset. Shares rose 2.5% to 1,250 rupiah. The field benefits from long‑term offtake with state‑owned PLN and industrial users, and shared infrastructure with the Korinci Baru field trims costs. Near‑term catalysts include the Central East Napuh field and the North Segat condensate plant.

RHB Research sees CSE Global’s earnings buoyed by $1.5 billion of Amazon orders over five years. The broker raised the target to S$1.94 from S$1.48, and the stock jumped 8.4% to S$1.68. Growth stems from expanding electrification, new data‑center space and property acquisitions, positioning the firm to capture rising demand for industrial real estate. Investors now weigh the upside against execution risk.