AI boom turns Morgan Stanley into a hot commodity
Talking Heads 2026: Data centres need long-dated power and gas hedges that only a big bank can provide
This article is part of our annual Talking Heads series of interviews
Morgan Stanley’s commodities team are an in-demand bunch these days.
Refiners and airlines are trying to manage oil and jet fuel exposure through the disruption caused by the Iran war. Hyperscalers want to lock in electricity for data centres that have yet to be built. Everyone else is trying to work out what both mean for inflation and macro markets in general.
“Every client you speak to is interested in what’s going on in
More on Oil & refined products
Oil and products house of the year: Macquarie Group
Energy Risk Awards 2026: Bank’s physical oil capabilities allow it to create vital flexibilities for clients facing tumultuous markets
A Hormuz tipping point may be days away
Agent-based model suggests delays and shortages likely to accelerate after four weeks
Energy Risk reaction: Impact of Middle East conflict on hedging and longer term risk
Energy Risk talks to Riccardo Rossi at Centrica Energy and Rob McLeod at Hartree Partners about the impact of the Iran crisis so far on firms exposed to energy
Iran strikes a stress test for CCP margin models
CME’s Span2 and Ice’s IRM2 are performing as advertised. The next few days could test their mettle
Energy Risk reaction: Venezuela and oil sanctions
Energy Risk talks to Rob McLeod at Hartree Partners about the energy risk implications of the US’s control of Venezuelan oil
Energy Risk Europe Leaders’ Network: geopolitical risk
Energy Risk’s European Leaders’ Network had its first meeting in November to discuss the risks posed to energy firms by recent geopolitical developments
US shutdown leaves commodity traders without key data
Commodity traders are ‘flying blind’ without Commitment of Traders reports
Energy Risk at 30: Learning from the past
Energy Risk looks back at the seminal events and developments that have shaped today’s energy markets
