Arctic: Energy Daily - Oil & Gas Markets, NE

Research evidence excerpt

Arctic: Energy Daily - Oil & Gas Markets, NE

Energy Daily

12 June 2026 | 08:48

Oil & Gas Markets, NE Key figures & indices

Oil markets: Brent below $90 as Trump says deal “approved” Oil price (USD/bbl) Index development

Crude prices are lower Friday morning, extending yesterday’s decline, with Brent 1 mth down

nearly -$2 to $88.50, its lowest level in two months. Prices remain under pressure after President

Trump yesterday again called off a strike he previously said was imminent, claiming that a deal

had been approved with the Iranian leadership and would be closed in “coming days”. His claim

backtracked on a prior threat, made only hours earlier, that the US would strike Iran “hard” Thursday

evening. Trump headlines were the main driver in a volatile day in the oil market which ended

with Brent 1 mth down -$2.72 to $90.38 and well off its $95 intraday high. Importantly, there has

been no official comment from Iran’s side, but news agencies close to the regime say that Trump’s Natural gas prices (USD/MMBtu) Overview of performance

claims are premature and that a deal has “yet to be reached”, citing anonymous sources. On the

fundamental front, the monthly market report from Opec showed that it expects a continued tight

oil market through next year. While the group did lower its demand forecast by -0.2 mbd, it still

sees growth on a full-year basis, unlike the IEA and EIA, and expects non-Opec supply growth to

fall short of demand both this year and next. Trading expected to be cautious ahead of a weekend

which may spring new surprises.

Noble (Hold): Noble Viking said to have received Brunei LOA at mid-USD 400kpd dayrate Nord Pool (EUR/MWh) 12m fwd. EV/EBITDAMarket updates suggest that Noble has received a letter of award from Petronas for the Noble