Every figure has a trail.
Good market communication starts with a clear definition of the measure, its source and what it cannot establish.
What powers the market watch
The market watch uses dated public updates from the IEA and the European Commission. Older 2025 background examples are labelled separately.
IEA Global Energy Review 2026
2025 global demand-growth estimates for coal, natural gas and oil. We wrote the surrounding text and drew the simple bars ourselves. Historical demand growth must not be presented as live prices.
Creative Commons Attribution 4.0
The IEA report states CC BY 4.0. The attribution on each relevant card and chart names the IEA, report and link. The photographs are illustrations, not factual evidence.
IEA Coal Mid-Year Update
2026 global demand forecast and seaborne thermal-coal trade outlook. The report states CC BY 4.0; third-party material inside it has separate notices.
IEA Gas Market Report, Q3
2026 global gas-demand forecast. This report states CC BY 4.0. We identify it as a forecast from July, not a current observation.
IEA Oil Market Report
The linked public highlights contain the 2026 oil-demand outlook. This page is non-CC material; we paraphrase only limited factual points with attribution.
European Commission
The Gas Coordination Group reported stable EU gas supply at its September meeting, while noting storage below historical levels. Its statement is dated.
Specifications travel with the number
Two numbers that look similar may describe different products, places or time windows.
Fuel and quality
Thermal versus metallurgical coal, calorific value, NAR versus GAR, sulphur and ash where relevant.
Delivery basis
FOB, CFR, CIF or DES determine which transport costs and location are included.
Observation window
Daily quote, weekly average, monthly data and annual growth are different objects.
Identify
Record publisher, release date, underlying period and licence.
Verify
Check the number against the primary source and preserve its definition.
Interpret
Write our own explanation and label arithmetic as calculated.
Approve
Review rights and accuracy before a headline or chart goes live.
A practical publication boundary
Open evidence and original analysis
Public agency statistics with compatible reuse terms, independently verified events, our own headlines and calculations, and charts redrawn from permitted inputs.
Subscription material
Publisher price assessments, subscriber-only article text, proprietary chart images and systematic index histories need explicit permission for the intended audience and use.
See how these rules become a page.
Explore the current briefs and the background articles.