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

Energy Cable #51: Tensions Increasing Fast in the Red Sea

Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

Macroeconomics

<ul><li>Takeaways up front:One Russian tanker passing through the Suez. Commodities and energy looking interesting given global macro</li><li>The demand side in crude is still dominating. We question whether the Houthi aggression is a lone wolf.</li><li>We’ll start this week’s newsletter where we left off last week and touch upon the latest action in the Red Sea.</li></ul>

Takeaways up front:One Russian tanker passing through the Suez. Commodities and energy looking interesting given global macroThe demand side in crude is still dominating. We question whether the Houthi aggression is a lone wolf.We’ll start this week’s newsletter where we left off last week and touch upon the latest action in the Red Sea.

Energy Cable #52: Suez Troubles or a Houthi peace deal with Shipping companies?