Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macro and Geopolitical Research House

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Commodities

<ul><li>Welcome back to our weekly EIA report, where we run through demand and supply data and give our cents on where we are heading next – and what the implications are for energy markets.</li><li>As always we present the main conclusions up-front: 1) Oil demand will likely come in hot in November on the back of strong gasoline demand in October due to the lags in energy markets (Gasoline leads oil – not the other way around).</li><li>2) Gasoline numbers in September were likely just a data-glimpse, as no high-frequent data series seem to agree with the narrative that demand for fuel is dropping.</li></ul>

Welcome back to our weekly EIA report, where we run through demand and supply data and give our cents on where we are heading next – and what the implications are for energy markets.As always we present the main conclusions up-front: 1) Oil demand will likely come in hot in November on the back of strong gasoline demand in October due to the lags in energy markets (Gasoline leads oil – not the other way around).2) Gasoline numbers in September were likely just a data-glimpse, as no high-frequent data series seem to agree with the narrative that demand for fuel is dropping.

EIA Watch: September Weakness Was Fake News. Time to Buy Oil?

Crude Oil

EIA Watch: September Weakness Was Fake News. Time to Buy Oil?