Arctic: Energy Daily - Oil & Gas Markets, SUBC, SPM

Research evidence excerpt

Arctic: Energy Daily - Oil & Gas Markets, SUBC, SPM

Energy Daily

24 June 2026 | 08:57

Oil & Gas Markets, SUBC, SPM Key figures & indices

Oil markets: Slide continues as Hormuz flows pick up Oil price (USD/bbl) Index development

Crude prices are trending lower for a third straight day on Wednesday, pressured by increased

conviction that US and Iran talks are progressing, amid reports of more oil coming through Hormuz.

Brent 1 mth is down -$0.50 to the $76.50 level. Yesterday, the contract closed -$0.82 lower at

$77.08. The market has taken solace from Monday’s comments that the US and Iran had made

“major progress” in their talks which began Sunday. It should be noted, though, that the two sides

are presenting different versions of what has been agreed to on key points, such as Iran’s nuclear

program and Hormuz toll fees. Part of the recently signed MOU is that Iran will get Hormuz traffic

back to normal within 30 days, and there are reports of mor vessels having exited, with tanker Natural gas prices (USD/MMBtu) Overview of performance

tracker Kepler saying the current flow is up to 5 mbd. On the bullish side, US crude inventories

continue to draw, down -0.8 mbls last week according to the API. While that was the smallest

draw in two months, the number includes a +9.1 mbls transfer from the SPR. Outside the Middle

East, the Russian fuel crisis is worsening as a result of Ukraine’s persistent drone attacks. Energy

minister Alexander Novak yesterday said that the country was considering a complete ban on

diesel exports. If implemented, it would remove nearly 1 mbd from the international market. EIA

weekly report this afternoon at 16.30, as usual.

Nord Pool (EUR/MWh) 12m fwd. EV/EBITDA

SUBC (Hold, NOK 280): Brazilian antitrust regulator approves Saipem merger