In this issue of Energy Market Drivers, we examine the oversupplied oil market, with Brent expected to trade in the USD 70-74 range in the coming weeks, as OPEC+ is likely to delay production increases. For TTF gas, market concerns are rising due to potential disruptions in Ukrainian gas flows and Germany’s ban on Russian LNG, pushing winter prices higher.

In the November 8 Energy Market Drivers report, we highlight uncertainties in oil markets following Trump’s election, with Brent expected to range between USD 70-75. Rising TTF gas prices are anticipated this winter due to EU storage concerns and high Asian LNG demand​.

This week we highlight the rising oil prices influenced by OPEC+ production adjustments and geopolitical tensions, notably in the Middle East. OPEC+ is expected to delay a production increase, keeping Brent prices steady with a potential rise toward $80 in 2025. The TTF gas market remains volatile, driven by high Asian LNG demand and supply uncertainties from Russia and Ukraine.