Société Générale Shares Dip Below €70 Following the Oil Shock in Ormuz

Impact of the American Naval Blockade on Iranian Ports

The announcement on April 13 of an American naval blockade targeting Iranian ports, following the failure of the Islamabad negotiations, triggered an immediate surge in oil prices: Brent crude jumped nearly 8%, crossing the symbolic $100 per barrel mark to reach $101.66. The Strait of Ormuz, through which a major portion of the world's crude oil passes, is directly affected by this escalation. This increase in geopolitical tensions is impacting the entire Parisian market, with the SBF 120 index falling by 0.92% during the session. Société Générale's shares did not escape this general downturn, in a banking sector under pressure: BNP Paribas dropped 1.30% at the same time. The context of increased volatility and rising oil prices adds a layer of uncertainty for financial stocks, traditionally sensitive to macroeconomic fluctuations and risks of a global slowdown in the event of a prolonged energy crisis.

Yearly Performance Despite Today's Decline

Despite today's decline, the stock shows a remarkable performance over the year, up 88.86%. On the Bollinger Bands, the price is in the upper 90% of its range, with the upper boundary at €71.17 and the lower boundary at €59.08: this position indicates a potential overbought zone, suggesting that the stock is near a technical tension point. The RSI, at 61, remains in neutral to moderately bullish territory, with no extreme signals at this stage. The current price remains above the 50-day moving average (€69.14), a proximity that could provide short-term support. The next key dates for the market are set for April 30, the date of the publication of the first quarter 2026 results, followed by the general meeting scheduled for May 27. These milestones will be crucial in assessing the impact of market conditions on the banking group's activity in recent months.