Dated Brent and soaring tanker rates highlight physical market tightness

October 9, 2026

In this Energy Market Drivers edition:

 

  • Crude oil and geopolitics: Middle East oil exports under pressure and tanker rates skyrocketing

  • Diesel gasoil and MGO: Diesel, gasoil and MGO: No new IEA barrels, and the US export-ban risk remains

  • Bunker markets: Wider East-West spreads and high freight costs

  • European gas: Low inventories leave Europe exposed to a cold winter

  • EUAs: Still a tight market, but compliance buying support behind us

  • Hedging views (all products): Hedge ratio above benchmark. Length/duration below benchmark. Consider options as a hedging instrument

  • GRM Forecasts: Oil, Gas, and EUA prices

     

 

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Arne Lohmann Rasmussen
Chief Analyst, Head of Research at Global Risk Management

Phone +45 2146 2951

E-mail: Arra@global-riskmanagement.com

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