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In this episode of the Energy Desk by Mobius Risk Group, hosts Zane and Alex discuss key trends and events shaping the global energy markets as of February 7th. They start with European gas markets, noting a recent two-week rally in TTF prices due to normal winter weather and dwindling storage levels below 50% in the EU. The conversation touches on potential policy changes around storage mandates and explores the implications of planned gas outages in Norway. They also discuss China tariffs on U.S. energy exports and their minimal impact on trade flows. The episode delves into the Trump administration's 'maximum pressure' campaign against Iran and its effects on oil production and geopolitical dynamics, including Venezuela and OPEC countries like Kazakhstan. They also cover production increases in Guyana and Kazakhstan and consider how these will influence OPEC cohesion. Finally, they discuss U.S. tariffs on Canada and Mexico, the potential impact on food and energy markets, and Brazil's new role as an OPEC member, concluding with a market outlook on oil and natural gas prices.
00:00 Introduction to the Energy Desk
00:46 European Gas Market Overview
03:49 Storage Mandates and Market Implications
08:39 China Tariffs and Global Energy Impact
11:37 Iran and Venezuela: Maximum Pressure Campaigns
21:11 Non-OPEC Production and Market Dynamics
29:07 Geopolitical Risks and Energy Markets
30:17 Conclusion and Market Outlook
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