European energy stocks open lower as oil falls on Iran diplomatic hopes

European energy majors opened lower Monday after oil prices dropped nearly 3% on renewed diplomatic efforts to end the US-Iran conflict, easing supply concerns. Brent crude for January delivery fell 2.85% to $110.23 a barrel, while WTI for December dropped 3.3% to $100.72. BP fell 2.4%, Shell 1.3%, Repsol 1.5%, and TotalEnergies 1%.