1154 GMT - Equinor's shares have two tailwinds that could push them nearly 25% higher, Baader's Frederic Lorec writes. The first is a structural one, he says. The Norwegian energy major has become a key gas supplier to Europe after the bloc weaned itself off Russian gas after the invasion of Ukraine. Gas prices have been elevated since Qatari gas facilities were damaged during the conflict in the Middle East and mean Norwegian gas margins should remain supported through at least 2028, Lorec adds. Secondly, low-cost oil production means the company is benefiting from the current higher oil prices, he adds. An Iran deal would hurt both tailwinds, but this isn't the base case given the state of negotiations, he adds. Shares rise 2.9% to 344.70 krone. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
June 01, 2026 07:57 ET (11:57 GMT)
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