Issue 11
Gulf shut-ins rise as diesel policy opens a second relief channel.
From 2 to 9 October, December Brent rose 2.4% to $104.72/bbl and November WTI rose 0.8% to $91.85/bbl. Henry Hub gained 6.1% to $3.220/MMBtu; the TTF and JKM futures proxies gained 8.9% to €81.434/MWh and 1.1% to $25.980/MMBtu. Operator reports verify precautionary Gulf shut-ins. IEA acceleration and a new U.S. diesel authorization establish policy channels, while destination deliveries remain unverified.