Energy

The Versailles Memorandum of Understanding has reduced disruption risks in the Persian Gulf, driving a downgrade in both our crude oil and natural gas price expectation.

Exclusive 103 Days, 38 Peace Deals

We cut oil forecasts on weak China demand, see softer US gas near term but keep LNG constructive as tight supply and limited flexibility support winter prices.

Exclusive EU ETS Pre-Reform Pause

Trading activity in the EU ETS has stalled, with markets in wait‑and‑see mode ahead of the upcoming policy review while increasingly pricing in signals of looser supply.

From HBEs to EREs in the Netherlands – New income opportunities for smaller businesses and households in electric mobility

With the move from HBEs to EREs, new ways to earn from electric mobility emerge in the Netherlands, although returns remain uncertain.

Exclusive Longer Stalemate, Higher Prices

As long as the Strait of Hormuz remains closed, energy inventories will draw and force prices higher over time.

Exclusive ❶ OPEC ❷ NOPEC ❸ Pecking O

The Iran war could plausibly foreshadow more fragmented energy markets, with split systems of defence, FX and swaplines, leaving middle powers in a difficult position.