Natural Gas Prices Surge Amid Political Uncertainties and Supply Risks

Global energy markets experienced notable movements today, with ICE Brent and NYMEX WTI extending their upward trends. These shifts were primarily influenced by mounting risks to Russian oil supplies and a moderate output increase agreed by OPEC+. The latest update on oil markets revealed that the Brent prompt timespread displayed slight strengthening, trading backwardation. This trend points towards current market sentiments and expectations for the near future. Moreover, the release of official selling prices (OSPs) by Saudi Arabia for November loading provided further insights into the oil pricing landscape. Notably, the decision to maintain Arab Light crude’s premium into Asia…