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

The Energy Cable #40 – Time to follow crack spreads!

Positioning Watch – Oil Longs Are Not as Big as You Think

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macroeconomics

<ul><li>The EIA report moved oil markets markedly yesterday and the sell-off has continued today.</li><li>If the EIA report is indeed a true reflection of the slide in the retail gasoline demand, it may shave off &gt;1mn barrels a day in global demand for oil.</li><li>The BIG issue for the EIA report is that it is 100% out of sync with high frequent transportation data, so what do we make of it here?</li></ul>

The EIA report moved oil markets markedly yesterday and the sell-off has continued today.If the EIA report is indeed a true reflection of the slide in the retail gasoline demand, it may shave off &gt;1mn barrels a day in global demand for oil.The BIG issue for the EIA report is that it is 100% out of sync with high frequent transportation data, so what do we make of it here?

Oil Watch: The EIA plot thickens