Arctic: Energy Daily - Oil & Gas Markets, ARCH, Shearwater, GEOS

Research evidence excerpt

Arctic: Energy Daily - Oil & Gas Markets, ARCH, Shearwater, GEOS

Energy Daily

19 May 2026 | 09:22

Oil & Gas Markets, ARCH, Shearwater, GEOS Key figures & indices

Oil markets: Prices back off as Trump delays strike Oil price (USD/bbl) Index development

The petroleum complex is trading lower Tuesday morning with Brent down -$2.20 to around $110.

Prices have come down from yesterday’s peak after President Trump said he had called off a strike

on Iran planned for Tuesday “for a few days” at the request of US allies in the MEG. According to the

President “serious discussions” are still taking place and with hopes that a deal to reopen Hormuz

can be reached. Prices rose sharply in Monday’s main session, with Brent 1 mth gaining +$2.84

to $112.10, extending last week’s $8 rally, in response to Trump’s comments over the weekend

that “the clock is ticking” for Iran to do a deal. Prices came off their highs, however, after the US

Treasury announced that it would extend the sanctions waiver on Russian oil at sea. There were Natural gas prices (USD/MMBtu) Overview of performance

unconfirmed reports in Iran media that the US had offered a similar waiver on Iran barrels. The

market will be closely watching for signs of where the diplomatic process is headed, as Trump’s

comments suggest that an attack could be closer than many had expected. On the fundamental

front, eyes will be on US inventories, starting with the API report tonight.

Archer: Q1 slightly below, reiterates guiding

Archer reported Q1/26 revenues of USD 278m (+7% vs ARCe, +14% vs Cons.), while EBITDA

came in at USD 37m (-7% vs ARCe, -8% vs Cons.). Adjusting for one-offs, adj. EBITDA was Nord Pool (EUR/MWh) 12m fwd. EV/EBITDA

USD 41m, in line with estimates. Free cash flow was weaker than expected at USD -31m versus