Arctic: Energy Daily - Oil & Gas Markets, Foresea, SCATC, TGS, ++

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Arctic: Energy Daily - Oil & Gas Markets, Foresea, SCATC, TGS, ++

Energy Daily

11 June 2026 | 09:02

Oil & Gas Markets, Foresea, SCATC, TGS, ++ Key figures & indices

Oil markets: Prices rebound on Trump threats, data Oil price (USD/bbl) Index development

Crude prices are firmer Thursday morning, extending yesterday’s rally, after the US carried out

another round of “defensive” strikes against Iran military targets and Iran responded with strikes

against US bases in the region and declared Hormuz “fully closed” to commercial traffic. Brent 1

mth is trading up +$1.50 to $94.50. Yesterday, the contract gained +$1.65 to $93.10, rallying in

response to Trump’s comments that attacks were “imminent” as Iran was taking “too long” to reach

a deal. A bullish weekly inventory report from the EIA further boosted gains. Reports that more

oil was “leaking” through Hormuz via ships travelling without AIS transponders on, pulled prices

back from the highs. Natural gas prices (USD/MMBtu) Overview of performance

Foresea (Buy, USD 38): Declared USD 50m distribution, in line with our expectations

Yesterday, Foresea declared an interim distribution of USD 50m, in line with our estimate, payable

in July. We estimate FY/26 distributions of USD 225m, implying one remaining USD 25m payment

in Q4. Furthermore, we expect Foresea to continue returning significant capital to shareholders

in the years ahead, with estimated annualized dividends of USD 150m (20% yield), implying a

potential cumulative payback of ~50% of the OTC-implied market cap by YE/28.

Nord Pool (EUR/MWh)Scatec (Buy, NOK 140): EU’s T-MED could support financing of Egypt megaprojects 12m fwd. EV/EBITDA

On June 9, the EU announced T-MED, an initiative aimed at reducing energy dependence and