Live Markets: European oils: Goldman tips traders and gas as earnings loom

Var Energi ASA

26/03/2026 12:37

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EUROPEAN OILS: GOLDMAN TIPS TRADERS AND GAS AS EARNINGS LOOM

Goldman Sachs has turned more upbeat on European oil and gas stocks, lifting its early view on first-quarter 2026 earnings as commodity prices rise.

Analyst Michele Della Vigna’s updated forecasts put him about 14% above consensus for Q1.

The bank sees the focus shifting towards trading profits, gas price upside and the ability to capture volatility.

BP BP.L stands out among Buy-rated names.

Goldman says the stock has risen broadly in line with peers since the crisis, but offers upside potential thanks to limited exposure to stranded oil hubs, higher spot LNG exposure and a trading business that can benefit from volatile markets.

It also highlights Norway’s Var Energi VAR.OL as a play on higher European gas prices, given its large share of EU gas production.

For more on which energy stocks stand to benefit from current wartime markets, see the Reuters Graphic: Western gas exporters reap war windfall as Qatar flows dry up

(Danilo Masoni)

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EARLIER ON LIVE MARKETS:

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A BIT OF CALM AFTER THE STORM… OR BEFORE THE NEXT ONE?  CLICK HERE

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STOXX 600 DROPS 1%, OIL RISES AS MARKETS WEIGH UP MIDDLE EAST UPDATES CLICK HERE

EUROPE BEFORE THE BELL: OIL UP, STOCK FUTURES DOWN CLICK HERE

HOPE AND HORMUZ CLICK HERE

Oil transit through the Strait of Hormuz https://www.reuters.com/graphics/HORMUZ-OIL/znpnmbazmvl/chart.png

Falling less https://www.reuters.com/graphics/USA-STOCKS/GLOBAL/xmvjyrwngpr/chart.png

European shares slide https://www.reuters.com/graphics/GLOBAL-STOCKS/mopaoqjawpa/chart.png