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MEPs are convening in Strasbourg for the second European Parliament Plenary of October this week, with the session featuring high-level debates and votes on topics with significant implications for Europe’s financial and commodity markets. Key items on the agenda this week include:  📍 Debate on Ending all energy imports from Russia to the EU and closing loopholes through third countries. 📍 Debate on the Commission Work Programme 2026 📍 Vote of the General budget of the European Union for the financial year 2026. At CMCE, we are actively following the session to ensure that policymakers recognise the strategic role of commodity markets in Europe’s energy security, financial stability, and competitiveness. For more insight, take a look at our latest two-pager on the role of commodity markets in Europe 🔽🔽🔽 #EPPlenary #EuropeanParliament #CommodityMarkets #Commodities #FinancialServices #CMCEurope

Uncertainty over how the EU’s Carbon Border Adjustment Mechanism (CBAM) will affect the price of UK power imports to Denmark may deter long-term capacity trading on the 1.4 GW Viking Link interconnector, Danish TSO Energinet has said.   “We have market participants calling us saying the situation is hugely frustrating. The uncertainty is probably the worst part,” noted Jeppe Hedegaard Munck, senior economist at Energinet.   Once CBAM takes effect from the start of next year, Denmark will need to pay a premium on top of the British power price. But uncertainty over the size of this premium has made it difficult for market participants to predict flows, discouraging participation in year-ahead capacity auctions.   Munck said the current rules were poorly designed for the UK, as using a five-year average emissions factor could inflate tax levels. He added that a negotiated solution could help mitigate negative effects.   Link to the full reporting by Mathias Falkengaard in the comments section.

📊 September 2025 (Part II): Price Spreads in Central and Eastern Europe – Poland and the Baltics In our continued look at price spreads across Central and Eastern European gas hubs, we now turn to Poland and the Baltic States, where pricing in September 2025 showed firm and persistent premiums over the TTF benchmark — highlighting structural market differences that merit closer scrutiny. 🇵🇱 Poland (TGE): A Consistent Premium Market • Throughout September, the TGE hub in Poland traded consistently above TTF, with spreads ranging from €2.86 to €6.13/MWh. • Percentage differences regularly fell between 9% and 19%. 🇱🇹🇱🇻🇪🇪 Baltic States (GET Baltic): Elevated Pricing Across the Month • The Baltic markets — Lithuania (LTU) and Latvia/Estonia (LVA-EST) — also priced above TTF throughout September. • Lithuania’s hub saw some of the largest daily premiums, with TTF trading up to €6.42/MWh below LTU, or as much as 20% lower. • Latvia and Estonia followed closely, with spreads of €2.90 to €5.65/MWh — premiums ranging from 9% to 18% over TTF ⚖️ Arbitrage & Structural Risks The consistent premiums at TGE, LTU, and LVA-EST suggest limited arbitrage opportunities relative to TTF, especially where transport or balancing costs are unfavorable. These spreads reflect persistent divergence from the benchmark, similar to what was observed at HUDEX and CEGH, and indicate that price convergence with TTF remains unlikely in the short term. 🔍 September’s data reinforces a clear regional pattern: while TTF remained stable between €30.90 and €32.85/MWh, hubs across Poland and the Baltics consistently priced higher, extending the divergence already seen in Austria, Hungary, and at times Romania. These spreads underline how local fundamentals — from infrastructure limits to seasonal imbalances — continue to drive meaningful price differentiation across Central and Eastern Europe, regardless of benchmark trends. 💬 As winter approaches, will these premiums hold — or are we seeing a short-term distortion in long-term fundamentals? #AY2Consult #PartnersInSuccess #GasInfoHub #NaturalGas #EnergyMarkets #GasTrading #TTF #TGE #GETBaltic #LTU #LVA #EST #MarketAnalysis

EU tightens rules on Russian oil Brussels has clarified the framework under Article 3ma, eliminating ambiguity around the import into the EU of #oil products derived from Russian crude. The EU mandates clear segregation or a 60-day washout period, explicitly rejecting a mass-balance approach. Importers are legally accountable, even if sellers misrepresent origin. While trusted trade partners benefit from exemptions, these are conditional and revocable. Refiners like Reliance may still qualify via operational segregation, but the evidentiary and practical bar is high. Documentation demands and a deepening trade bifurcation are expected to rise sharply as the January 2026 deadline approaches. Stay ahead of the market with Kpler Insight: https://okt.to/VCnmZl Zameer Y.

Russian Ministry of Finance: The fuel cutoff price will be changed retrospectively. The change in the fuel cutoff price will be taken into account starting September 1, confirmed the Deputy Minister of Finance. A bill raising the fuel cutoff price (for payments to oil companies for domestic deliveries, not exports) is already being considered by the State Duma, according to State Secretary and Deputy Finance Minister Alexey Sazanov. He clarified that the current version of the bill provides for a 10 percentage point increase in the range of the average exchange price above the indicative price: up to 20% for gasoline and up to 30% for diesel fuel. Sazanov expressed confidence that oil refiners will receive the cutoff price for September, as stipulated in the bill under discussion. Overall, the Ministry of Finance considers the mechanism for dampening payments to oil producers to be effective in maintaining domestic prices for petroleum products - one that functions "correctly and successfully" and therefore has no plans to change its design. This is how Deputy Minister Alexey Sazanov responded to a question about the initiative to calculate payments based on the shipment of petroleum products in exchange transactions, rather than on the sale. However, the Ministry of Finance is not participating in the discussion of suspending the reset of dampening payments to oil producers in the event of force majeure. Sazanov noted that the proposal was voiced by Gazprom Neft CEO Alexander Dyukov: to give the government the right to suspend the reset of payments in the event of force majeure. According to the Deputy Minister, the proposal needs to be discussed within the government, but the ministry is not currently involved in this process. Content Author: https://lnkd.in/eRgf5hgm Source: https://lnkd.in/eHMrGDtr     #butov #oilgasmarket #oilgasworld #innovation #management #humanresources #technology #digitalmarketing #entrepreneurship #careers #socialmedia #socialnetworking #futurism #startups #branding #advertisingandmarketing #creativity #marketing #sales #motivation #energy #money #sustainability #productivity #gettingthingsdone #leadership #education #strategy #business #europe #mindfulness #inspiration #engineering #africa #india #europeanunion #china #smallbusiness #success #production #oilandgas #collaboration #contentmarketing #research #globaltrade #onlineadvertising #dubai #kenya #abudhabi #socialmediamarketing #manufacturing #climatechange #oilandgas #work #oilgas #science #logistics #hydrocarbons #shipping #growth #uae #marketresearch #oil #oilindustry #oilandgasindustry #agriculture #designer #oilfield #oilindustry #petroleum #trading #gas #chemistry #chemical #petrochemical #agro #refinery #import #export #industrial #agribusiness #quality

The new assessments will cover two routes: Guyana to the United Kingdom and Guyana to the Mediterranean, reflecting what Platts described as the “growing crude trade flow in Suezmax tankers from Guyana to Europe”. https://lnkd.in/e4tSGArK

🌀 Low-pressure system 94L forming near eastern Cuba and the SE Bahamas Markets takeaway: energy, shipping and insurers may see near-term volatility — watch crude, Caribbean ports/shipping routes and reinsurance spreads

Oil markets rebound amid US-China trade tensions. How might this impact Australia's export receipts? Our analysis explores the implications. #OilMarkets #TradeRelations #AustralianExports #MarketAnalysis https://lnkd.in/gurnParj

Pakistan Refuses to Pay Rs. 220 Billion of Interest to China :) The Government of Pakistan has informed the International Monetary Fund (IMF) that it will not pay 220 billion rupees in interest on the delayed payments for power plants built under CPEC with China, and will formally seek a waiver from Beijing in this regard. According to sources, the Energy Division briefed the ongoing talks with the IMF on the financial and operational situation of the power sector. The government clarified that it only acknowledges 250 billion rupees as the principal liability, while it does not recognize the 220 billion rupees due as interest. This amount is part of the total circular debt of 1.7 trillion rupees. However, in recent meetings, China has urged Pakistan to immediately establish a 'circular account' as per the agreement made for CPEC energy projects to ensure timely payment of liabilities. In the recent Joint Cooperation Committee (JCC) meeting, China and Pakistan agreed to maintain stability in the tariffs for energy projects under CPEC, resolve disputes through mutual consultation, and that neither party will make unilateral decisions.

Why Russia Will Not Give Up Control of Serbia’s Oil Industry The Oil Industry of Serbia (NIS) is far more than just a company. For Moscow, it represents profit, political leverage, strategic infrastructure, and symbolic presence in the heart of the Balkans. Economically, NIS remains one of the most profitable enterprises in the region, securing a steady flow of capital for Russian energy giants. But the real value lies beyond revenue. Whoever controls energy assets controls political decisions. Through NIS, Russia maintains significant leverage over Serbia, shaping policies and ensuring dependency. Strategically, the company’s refineries, storage facilities, and retail network are not only economic assets but elements of national security. For Russia, losing them would mean losing a foothold in a region increasingly integrated with the EU and NATO. NIS also serves as a channel of influence. It sustains networks of people, companies, and initiatives aligned with Russian interests, allowing Moscow to project power beyond economics and into the political and informational domains. Finally, there is symbolism. Letting go of NIS would signal a retreat of Russian influence from the Balkans—something Moscow cannot afford. In short, Russia will not relinquish NIS because it is more than an oil company: it is an economic weapon, a political tool, a strategic asset, and a symbol of power. For Serbia, however, this means enduring dependency and reduced sovereignty in one of the most vital sectors of national life.