Oil & Gas – Fears of U.S. Export Restrictions on Diesel
Oil prices under geopolitical pressure: The Brent price is reacting primarily to rumors surrounding negotiations between the U.S. and Iran and is trading at around USD 103 per barrel.
Export Restrictions on Diesel: Potential U.S. export restrictions on diesel are weighing on the WTI price due to lower domestic U.S. refining demand and, consequently, lower oil demand.
High gas prices: The active monthly TTF contract is trading at around EUR 70/MWh after peaking at over EUR 82/MWh in mid-September.
Gas reserves are lagging behind: The European storage fill rate is about 71%, compared with over 82% last year and a five-year average of 87%.
Uncertainty regarding stockpiling targets: The European natural gas stockpiling targets are in effect through December 31, 2027, and may be extended, modified, or terminated.
Rising natural gas transmission rates: According to the ACM, transmission rates could rise sharply in the coming decades due to declining natural gas consumption.
