Energy market podcast

Brent prices strengthened last week despite ongoing geopolitical risks, as the IEA adjusted its 2025 and 2026 demand forecasts and highlighted a surplus in the market. Meanwhile, developments in US trade policy and a shift in Trump's stance on Russia add further complexity to the outlook for oil prices.

Eight OPEC+ members met over the weekend and agreed to a production increase of 548 kb/d for August, surpassing previous monthly increases. While this decision comes as a surprise to the market, the actual impact on supply may be limited due to several members already exceeding their targets.

After a tumultuous few weeks, energy markets have calmed down. With supply risks from the Middle East seemingly dissipated, the focus now shifts back to concerns over weak demand growth and the potential impact of US tariffs on energy markets.

The US strikes on Iranian nuclear facilities and the potential closure of the Strait of Hormuz have raised alarms in the oil and gas markets. Disruptions could lead to higher prices, with markets reacting to these emerging risks.

Chevron shuts down production at the Leviathan field due to security risks. While oil supplies remain unaffected, the market is reacting with volatility, and OPEC+ may adjust its plans in response to these developments.

Brent crude oil prices have strengthened at the end of last week, despite discussions of potential production hikes from OPEC+. Factors such as limited cuts to Saudi selling prices and ongoing overproduction by several members are supporting prices, while the market remains in its current range, with the possibility of reaching $70/b if it breaks out.

OPEC+ has agreed to increase production, setting July's output at 410 kb/d above June and 822 kb/d above the original target. Despite these increases, oil prices rose, likely due to geopolitical tensions, including strikes on Russian airfields that may affect production.

Oil prices remained stable last week despite significant news, with Brent holding around $65/b amid OPEC+ discussions and Trump's comments on EU trade. Bearish factors may lead to further declines if trade talks falter. Meanwhile, gas and power prices in Europe have risen due to maintenance outages in Norway, pushing winter gas futures to their highest levels since early April.

Recent developments on a potential Iran nuclear deal have impacted the oil market, with Brent hovering around $65/b. The IEA's report shows upward revisions in oil demand for 2024-2026, but concerns about oversupply persist, especially with the potential increase in Iranian crude later this year.

The oil market rallied into the end of last week on optimism about talks between China and the US on trade. Callum Macpherson, Head of Commodities at Investec UK, discusses what progress has been made and what does this mean for energy markets.

OPEC+ have announced an increase in output over the weekend. Callum Macpherson, Head of Commodities at Investec UK, discusses what has been decided and the motivation behind the move.

Brent set a new recent high in its recovery from the sell-off at the start of this month. Callum Macpherson, Head of Commodities at Investec UK discusses market prospects in the current global environment.

In this episode, we discuss the recent rise in the oil market to $68/b and the factors driving this change, including US-Iran talks. We also touch on the implications for oil prices, US-China trade relations, and the current state of European electricity and gas markets. Tune in for insights into the future of these sectors.

With the latest Tariff announcements from US President Donald Trump, oil has rallied following. Callum Macpherson, Head of Commodities at Investec UK discusses the oil price outlook, amid uncertainty in the market.

The sharp sell-off in oil markets after Trump’s tariffs were announced last week, continues this morning. Callum Macpherson, Head of Commodities at Investec UK discusses the latest in the oil market and why OPEC+ announced an output increase when prices were already falling.

With the continued strengthening of Brent, Callum Macpherson, Head of Commodities at Investec UK looks at whether the market still concerned about supply.

Oil has strengthened over the last week and Brent is over 72 $/b this morning.? Callum Macpherson, Head of Commodities at Investec UK looks at what has been behind this move and if the rally can continue.

Last week was much quieter in oil markets than the week before, despite continued falls in US equities. Callum Macpherson, Head of Commodities at Investec UK discusses why did oil not follow equities lower again.

It’s been a tumultuous time in energy markets and Callum Macpherson, Head of Commodities at Investec UK takes a look at some key events from last week and how the market reacted.

Callum Macpherson, Head of Commodities at Investec UK, discusses the impact of uncertainty in the oil market brought about by President Trump's trade policies and the debate over Ukraine peace talks.

Brent fell at the end of last week, whereas it had been rallying strongly for much of last week. Callum Macpherson, Head of Commodities at Investec UK looks at what brought about this change of direction.

Callum Macpherson, Head of Commodities at Investec UK discusses the latest report from the Internation Energy Agency looking at outlook for supply and demand.

Since last week’s podcast, Trump has delayed some of the new tariffs, Callum Macpherson, Head of Commodities at Investec UK, discusses what has been going on and what this might mean for oil.

U.S President Donald Trump has gone ahead with introducing the tariffs he threatened. Callum Macpherson, Head of Commodities at Investec UK looks at the oil market reaction to the new tariffs imposed by Washington.

Callum Macpherson, Head of Commodities at Investec UK, delves into the impact of President Trump's latest statements and executive orders on the global oil and gas markets.

Investec's Head of Commodities, Callum Macpherson, looks at the impact the Israel-Hamas ceasefire and Trump's incoming presidency are having on the Brent crude market, and how far its rally has left to run.

Investec's Head of Commodities Callum Macpherson gives insights into the 2025 Hedging Considerations’ themes and how they relate to the latest in the market at the moment.

The energy update is back with season three, and in the first episode of the year Investec's Head of Commodities Callum Macpherson discusses factors driving Brent’s positive tone at the beginning of 2025.