Macro Tailwinds Power a Strong First Half for Midstream As we cross the halfway mark of 2026, the energy space has already experienced a dramatic shift in the macro landscape. Supply disruptions in the Middle East turned a looming oil supply glut into a severe shortage with depleted global inventories, benefiting U.S. energy companies across the value chain. Amid significant swings in oil and equities broadly, MLPs and midstream managed to outperform the S&P 500 and kept pace with the energy benchmark in 1H ...

21 July 2026 | 7:22AM BST Equity Research Fortum OYJ (FORTUM.HE): Q2 2026 results: Lower volumes drives a miss Fortum released its Q2 2026 results this morning (July 21st). The key highlights were: View: Overall a sizable miss for Q2. Lower hydro and nuclear volumes are the main drivers for the weakness. We would expect consensus downgrades for the FY. We are Sell rated on Fortum. Ajay Patel +44(20)7552-1168 | ajay.patel@gs.com Goldman Sachs International Lawrence Lavizani +44(20)7051-1060 | lawrence.laviza ...