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Just what's going on in the energy market?
Cold weather and geo-political risks have created volatility in the energy market as Yaser Faiz Rawashdeh, Saxo Bank’s Head of Middle East Client Trading, explains. Yaser outlines the current trends impacting Brent, WTI and gas.
News concerning oil production and demand in China and Libya has fractured the Brent crude oil market. Reports of diminishing oil demand in China have raised concern in the marketplace; while in Libya, policy makers’ decision to decrease the output of oil has sent geo-political shockwaves through the market. Yaser notes that in general though, the spread between Brent and WTI has declined due to an increased ability to shift oil from the mainland.
The Keystone XL pipeline in the US could possibly influence the spread further, as it would undoubtedly impact WTI inventory. After recent reports estimating that the pipeline will have a minimal impact on the environment, President Barack Obama is under increased pressure to approve the pipeline.
In the coming weeks the gas market is expected to be a crowded place for traders as the weather warms up, which is why Yaser is favouring options.
01:38 minutes
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