The price of oil rose sharply on Monday - and Brent crude reached a high of $103 a barrel. When the US, at 4 p.m. Swedish time, made President Donald Trump's threat a reality by imposing a blockade of the Strait of Hormuz, the increase slowed somewhat - and oil traded around $102 at the close of the Swedish market.
Before the US and Israel's war against Iran began on February 28, oil cost around $70 a barrel.
The stock market decline and the US blockade followed this weekend's stalled peace negotiations between Iran and the US.
During the day, France and Britain announced they would call a peace conference intended to find a solution to the situation around the Strait of Hormuz.
Among the companies on the Stockholm Stock Exchange's OMXS30 index, heat-pump manufacturer Nibe stood out, rising 5.5 percent. The energy crisis is seen as benefiting the company, writes Bank of America, while competitor BNP Paribas sees the company as a takeover candidate.
Other companies that bucked the trend included Saab, up 1.6 percent, and Swedbank, which rose 1.4 percent.
Heading the other way were pharmaceutical group AstraZeneca, down 2.1 percent; truck giant Volvo, down 1.8 percent; and Industrivärden, down 1.6 percent.
The developments among leading European stock exchanges were in line with Sweden's.
