Higher Oil Prices to be Reflected in Energy Company Results

Dow Jones07-02 16:48

0848 GMT - Second-quarter results from Europe's energy companies will be characterized by higher oil and gas prices, elevated refining margins and good trading performances, UBS analyst Joshua Stone writes. Oil prices are falling, though. Market watchers are shifting their attention to the prospects of a supply glut next year as the Strait of Hormuz quickly opens up, he writes. Brent crude should average $80 a barrel over the remainder of the year and $75 a barrel in 2027, he writes. Oil's price floor has been structurally raised given the need to refill global inventories, he adds. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

July 02, 2026 04:48 ET (08:48 GMT)

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Oil's price floor has been structurally raised given the need to refill global inventories, he adds. 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Oil prices are falling, though. Market watchers are shifting their attention to the prospects of a supply glut next year as the Strait of Hormuz quickly opens up, he writes. Brent crude should average $80 a barrel over the remainder of the year and $75 a barrel in 2027, he writes. Oil's price floor has been structurally raised given the need to refill global inventories, he adds. 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Oil's price floor has been structurally raised given the need to refill global inventories, he adds. 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