Arctic: Credit Daily - Oil Markets, Tankers, Performance Shipping, Eldorado Drilling, Intrum

Research evidence excerpt

Arctic: Credit Daily - Oil Markets, Tankers, Performance Shipping, Eldorado Drilling, Intrum

Credit Daily

12 June 2026 | 08:22

Oil Markets, Tankers, Performance Shipping, Eldorado Drilling, Intrum Key figures & indices Arctic HY Index

Oil markets: Brent below $90 as Trump says deal “approved”

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

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.

Tankers: Opec, hopec...

Spot rates were mixed yesterday. VL and Suezmax rates were little changed while Aframaxes

continue their downdraft (-8.8% to USD ~47.0k/d), although the levels are nothing to complain

about.