AEX closes higher as Shell and SBM Offshore lead on rising oil prices

Amsterdam’s AEX closed 0.2% higher on Friday at 1,131.63 points, with Shell and SBM Offshore leading the main index as oil prices climbed. The gains came despite a cautious mood among investors over higher energy costs and concerns about artificial intelligence.

Shell rose 3.8% and oil-services company SBM Offshore gained 3.5%. Brent crude climbed 3.6% to above $117 a barrel, according to ANP’s market report published by Nieuws.nl.

The AEX had fallen 1.1% on Thursday. The MidKap index of smaller listed companies rose 0.9% on Friday to 1,072.41 points, while Frankfurt, London and Paris all ended lower, with losses of up to 0.8%.

ANP reported that Iran-backed Houthi rebels had claimed responsibility for recent attacks on the Saudi port city of Yanbu on the Red Sea and on an airport in Saudi Arabia. The report did not establish a direct link between those attacks and Friday’s rise in oil prices.