Gulf Intelligence Podcasts PODCAST: Daily Energy Markets - March 23rd
Mar 23, 2026
Henning Gloystein, energy analyst on Asia’s LNG crunch and long-term security shifts. Rachel Ziemba, geopolitics and energy-security specialist on demand destruction and policy limits. Omar Najia, derivatives trader on market structure, liquidity and spreads. They discuss muted price moves amid interventions, Asia’s fuel shortages and demand measures, and how trading flows and geopolitics reshape near-term market volatility.
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Spreads Reveal Hidden Market Stress
- Oil flat prices understate stress because spreads and product cracks are widening even when Brent is muted.
- Omar Najia links interventions and heavy spread activity to paper selling and market manipulation that hides true bullish pressure.
Asia Is Experiencing Active Demand Destruction
- Asia is already enacting demand destruction measures like four-day work weeks and export bans, signalling acute regional supply stress.
- Rachel Ziemba notes governments are buying time by conserving energy and exploring swaps or locked supplies in Asia and Australia.
Gas And Downstream Markets Are Suffering Most
- LNG and downstream sectors (fertilizers, aluminium) face worse disruption than crude, amplifying immediate pain beyond oil headlines.
- Henning Gloystein highlights refinery and processing damage plus government measures that reduce exports and exports' flexibility.