An oil refinery in the Russian capital was struck by Ukrainian drones, causing fire and damage to a primary processing unit, according to Moscow Mayor Sergei Sobyanin's Tuesday statement on Telegram.
The Ministry of Emergency Situations of Russia said the same day the fire at the Moscow Oil Refinery was completely extinguished, and the incident did not affect the plant's functioning.
AlphaValue/Baader Europe moved its rating for Aker BP (AKRBP.OL) to reduce from add, and slashed its earnings assumptions for the Norwegian oil exploration and development company following a recalibrated commodity environment.Analysts lowered their adjusted EPS estimates by 8.84% to $3.29 for 2026 and by 11.3% to $3.1 for 2027, according to a research report published Monday. The research firm attributed the revisions to the potential impact of a lower Brent deck on upstream realized liquids prices."The downward revision in Brent to 87/72/65$/bbl (from 95/80/75) pulls the three-year average operating EBIT reference (2026-28) down to approximately $6.9bn (from c.$8.0bn), a decline of around $1.1bn (~14%), with upstream E&P (Norway, International and US) carrying the bulk of the reduction," analysts added.The stock has a price target of 332 Norwegian kroner.
AlphaValue/Baader Europe changed its rating for Equinor (EQNR.OL) to reduce from add and lowered its earnings assumptions for the Norwegian energy company following a recalibrated commodity environment.Analysts cut their adjusted EPS estimates by 6.05% to $5.11 for 2026 and by 7.82% to $4.01 for 2027, according to a research report published Monday. The research firm attributed the revisions to the potential impact of a lower Brent deck on upstream realized liquids prices.The stock has a price target of 346 Norwegian kroner.
The worst of the recent rise in US inflation may have passed if the peace agreement between the US and Iran holds, Bloomberg reported Monday, citing economists who expect easing energy costs to reduce price pressures.Citigroup Chief US Economist Andrew Hollenhorst said that while energy markets remain difficult to forecast, "everybody would agree the direction is down" for oil prices following the agreement, according to the report.US annual inflation accelerated to 4.2% in May, the highest level in more than three years, with more than half of the monthly increase driven by energy costs, Bloomberg reported. Economists expect inflation to moderate as gasoline prices decline and shipping through the Strait of Hormuz gradually returns to normal."Second-round effects from the war - from crude oil into other commodity prices - also appear to have peaked," Bloomberg Economics Chief US Economist Anna Wong wrote in a note, according to the report.