Morning Comment Norway-06/16/2026

Research evidence excerpt

Morning Comment Norway-06/16/2026

Morning Comment Norway

16 JUN 2026

Foreign markets S&P 500 intraday

7,600

• US – US equities were higher in fairly uneventful Monday trading as stocks 7,580

ended a bit off best levels. Major averages up for third-straight session, Dow 7,560

and Russell ended at fresh record highs. S&P 500 less than 1% from its 2- 7,540

Jun record close. Memory, semis rallied, Big Tech broadly higher with five of 7,520

the Mag 7 up 2%+. Risk-on move driven by weekend agreement between

7,500

US and Iran to end war, reopen Strait of Hormuz starting Friday.

7,480

• Asia – Asian equities mixed Tuesday. South Korea outperforming with 7,460

memory giants taking cues from rally in US. Gains picking up in Japan and 7,440

Taiwan. BOJ raised policy rate by 25 bp to 1.00% as expected in 7-1 vote. 7,420

16:00 17:00 18:00 19:00 20:00 21:00

Noted price pass-through from higher oil prices progressing at faster pace,

risking underlying inflation rising above 2% target.

• Oil prices – WTI and Brent both closed down just under -5.0% yesterday US and Asia indices (at time of publication)

after the U.S. and Iran announced a deal to extend the ceasefire by 60 days 4.00%

3.07%

and allow traffic to pass through the Strait of Hormuz. During those 60 days, 3.00%

discussions will be held on issues such as Iran's nuclear program, uranium

stockpiles and sanctions relief. Brent down -0.5% and WTI -0.2% Tuesday. 2.00% 1.65%

0.92%

1.00% 0.61%

Today’s research focus

• BWLPG – A strong Q1 report from BW LPG, with Q2 guidance ahead of 0.00% -0.04%

schedule and the dividend just a little richer than we had reason to expect. A -1.00%

little counter-intuitively the VLGC market has seen exceptional tailwinds

since Hormuz shut, and we should now gradually expect a normalization.