Tullow Shares Soar as West African Oil Brings Record Price

Tullow Oil Plc’s shares surged more than 9% after tensions in the Middle East drove its West African crude to a record price.

Oil from the region is selling at a premium to the European benchmark Brent, with an April shipment selling at $130 a barrel, the “highest ever price for a Tullow cargo,” the company said in a results presentation on Tuesday. The Africa-focused energy company sold its first four shipments of 2026 for an average, pre-hedge price of about $90 a barrel.