Equinor Trading Profits to Beat Forecast as War Spurs Volatility
An Equinor ASA offshore oil drilling platform in the North Sea, Norway.
Photographer: Carina Johansen/BloombergEquinor ASA said first-quarter earnings from its marketing, midstream and processing business will exceed its guidance of about $400 million, with the Middle East conflict driving “significant volatility.”
The war fueled volatility across crude, products and liquids towards the end of the quarter, Norway’s biggest oil and gas company said in a trading update on Thursday. Results were also helped by a US cold spell in January, with price spikes benefiting the company’s US gas trading business.