In the past month, global demand for oil rose to a record high. Limited economic growth in large parts of the world is being offset by growth in emerging countries in Asia. As a result, oil demand continues to grow steadily. In addition, the production cut by OPEC+ is also pushing up prices. We interpret the longer-term price risks as oil demand continues to rise. This clashes with the assumptions in most climate scenarios towards 2030 and beyond. Although TTF gas prices are fairly stable, the price differential between gas in Europe and gas in Asia continues to increase. It leads to European LNG imports decreasing, with many tankers sailing on to Asia. With another period of maintenance on Norwegian gas infrastructure ahead, new major price movements cannot be ruled out. Finally, we zoom in on the correlation between heating days and gas demand.