Briefing
The Briefing focuses on one major shift shaping the global energy system each week. Not just what’s happening, but why it matters, and how it fits into the bigger picture.
Qatar
+7
The shortage that survives the war
When the ceasefire comes, it will feel like relief. It shouldn’t.
Apr 2, 2026
•
15 min read
Shipping
+4
The crisis is pulling the energy system apart
The instinctive read on an energy crisis is straightforward. Supply disrupts, prices spike, the transition slows.
Mar 26, 2026
•
8 min read
Briefing
+2
Three things the oil price isn’t telling you
Oil has absorbed most of the attention since the Strait closed.
Mar 19, 2026
•
10 min read
Equities
+5
Not enough pipes to plug the leak
The LNG system was built for a world where supply risk was diffuse.
Mar 12, 2026
•
11 min read
Equities
+3
Two assumptions, one stock price
European industrial equities have moved sharply since the crisis began. Not all of them have moved in the same direction.
Mar 9, 2026
•
8 min read
Shipping
+4
The three clocks of Hormuz
At some point a ceasefire will reopen the strait. But it will not restart the system.
Mar 9, 2026
•
8 min read
Shipping
+5
The two-phase shipping trap
The market has priced longer voyages. It has not priced fewer cargoes.
Mar 6, 2026
•
10 min read
Equities
+6
The €40 billion question
Europe must refill its gas storage this summer. The question is who collects the margin.
Mar 6, 2026
•
8 min read
Equities
+6
The last supplier standing
The Middle East war has left the United States as the world’s indispensable gas supplier. The question is what Donald Trump does with that power – and the answer may be more unsettling than investors think.
Mar 5, 2026
•
10 min read
Equities
+3
The electricity problem nobody is pricing – and where the answer is stored
AI runs on silicon and code. It also runs on electricity. The market has priced the first two. The opportunity is in what holds it.
Mar 3, 2026
•
23 min read
