In this month’s episode of the Enverus Intelligence podcast, Gibson Scott sits down with Al Salazar and Josephine Mills to unpack a rapidly shifting energy landscape. What began as a discussion around our latest Fundamental Edge report, Surplus to Scarcity: Our View to 2035, quickly expanded to include the market implications of U.S. strikes on Iran and the shutdown of Qatari LNG exports. 

The team breaks down what was already tightening in oil markets before geopolitics escalated, how much of today’s crude price reflects a true geopolitical premium, and what a prolonged Strait of Hormuz disruption would mean for global inventories. They also examine the far-reaching consequences of Qatar’s LNG outage, the limits of short-run supply elasticity in global gas markets and where U.S. and Canadian exporters could benefit.

From structural underinvestment and long-term oil deficits to near-term LNG volatility and Henry Hub upside risk, this episode connects the macro fundamentals with today’s geopolitical shocks and explains what may matter most for prices from here.