According to Goldman Sachs strategists, the impact of rising energy prices on the European economy is greater than the stock market. According to a research team led by Guillaume Jaisson, the profit level of the European Stoxx 600 Index has historically been positively correlated with energy prices. Their analysis of data since 1990 shows that for every 10% increase in the price of Brent crude oil, European companies' profits increase by about 2.4 percentage points. Most of the benefits are concentrated in the commodity sector. The strategist wrote in the research report: “The utilities, finance, and some chemical sectors can also benefit from higher inflation, increased pricing capacity, and higher interest rates.”

According to Goldman Sachs strategists, the impact of rising energy prices on the European economy is greater than the stock market. According to a research team led by Guillaume Jaisson, the profit level of the European Stoxx 600 Index has historically been positively correlated with energy prices. Their analysis of data since 1990 shows that for every 10% increase in the price of Brent crude oil, European companies' profits increase by about 2.4 percentage points. Most of the benefits are concentrated in the commodity sector. The strategist wrote in the research report: “The utilities, finance, and some chemical sectors can also benefit from higher inflation, increased pricing capacity, and higher interest rates.”