Gas market on fire, and oversupplied oil market says IEA

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Content 

  • Market view oil: Oil under pressure, but OPEC+ to add support
    • Oil market reports painted a bearish picture of the oil market balance
  • Market view TTF gas: New gas concerns ahead of winter
    • Likely partly disruption to gas flows through Ukraine next week.
    • Germany orders ports to reject Russian LNG shipments
  • Hedging views (consumer side): Winter risk In gas, power and EUA and OPEC+ in focus in oil market
    • Oil/Oil products: Add to consumer hedges when Brent trade in the USD 68-72 range
    • EUA: Buy EUAs when DEC-24 below EUR 65 MT
    • Gas: Winter and refilling risks next year are key risks

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

Phone +45 2146 2951
Arra@global-riskmanagement.com

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