Energy outlook

Energy Markets Weaken as Oil Inventories Rise; Record Fund Shorts in TTF Despite Winter Risks

Oil prices settled lower yesterday with a large increase in US crude oil inventories, while surplus expectations for the global oil market will also be providing some headwinds

OPEC+ Pauses Supply Increases as Market Faces Uncertainty; China Considers Limits on Metal Smelting Capacity

Oil prices are trading stronger this morning after OPEC+ decided to keep output levels steady over the first quarter of next year. However, this could change given the uncertainty on Russian oil flows following US sanctions

Energy and Metals Outlook: India Faces Secondary Tariffs, Oil Weakens, Gold Surges on Fed Shift

Federal Reserve Chair Jerome Powell’s speech at Jackson Hole provided a boost to most risk assets, including large parts of the commodities complex. Yet, uncertainty over a Russia-Ukraine peace deal and the risk of tougher sanctions hang over the market

US Natural Gas Prices in Turmoil. Cold Snap, Record Exports, and an Uncertain Future

• The weather has created a lot of volatility in US natural gas prices this year, with prices on a rollercoaster between USD 3/mmbtu and USD 4.2/mmbtu.
• Near term, as we move into the shoulder season with weaker demand, the risk that prices could decline from current levels persists, in our view.
• Longer term, we retain a constructive outlook. But given high roll costs, which remain a drag on performance, we prefer to remain on the sidelines at present.