Uploaded August 2026 | Updated September 2026, 2 weeks ago
An emerging markets energy crisis splits exporters from importers, handing Russia and Kazakhstan a windfall while Egypt and Sri Lanka ration fuel.
Vincent Deluard, Director of Global Macro Strategy at StoneX, explains why the dual importers of energy and food carry the heaviest burden.
Energy exporters see stronger demand and appreciating currencies, while importers compete for scarce cargoes against Japan, Korea and Europe. Countries that cannot win that bidding war fall back on demand destruction, meaning fuel queues, requests to work from home and energy lockdowns. Egypt, Sri Lanka, Pakistan and Ethiopia show how a supply squeeze turns into a food security and political instability problem, with the Arab Spring as the precedent.
Watch the original interview: youtube.com/watch?v=byaRJ8D2uJY
Discover Actionable Global Macro Insights with StoneX Market Intelligence: shop.stonex.com/products/global-macro-insights?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_vincent_deluard&utm_content=share
0:00 Oil Exporters Win a Windfall
0:34 Egypt and the Dual Importers
1:04 Rich Buyers Take the Cargoes
1:29 Fuel Lines and Political Risk
Like and subscribe for more financial market insights.
#EmergingMarkets #CrudeOil #StoneX #VincentDeluard
An emerging markets energy crisis splits exporters from importers, handing Russia and Kazakhstan a windfall while Egypt and Sri Lanka ration fuel.
Vincent Deluard, Director of Global Macro Strategy at StoneX, explains why the dual importers of energy and food carry the heaviest burden.
Energy exporters see stronger demand and appreciating currencies, while importers compete for scarce cargoes against Japan, Korea and Europe. Countries that cannot win that bidding war fall back on demand destruction, meaning fuel queues, requests to work from home and energy lockdowns. Egypt, Sri Lanka, Pakistan and Ethiopia show how a supply squeeze turns into a food security and political instability problem, with the Arab Spring as the precedent.
Watch the original interview: youtube.com/watch?v=byaRJ8D2uJY
Discover Actionable Global Macro Insights with StoneX Market Intelligence: shop.stonex.com/products/global-macro-insights?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_vincent_deluard&utm_content=share
0:00 Oil Exporters Win a Windfall
0:34 Egypt and the Dual Importers
1:04 Rich Buyers Take the Cargoes
1:29 Fuel Lines and Political Risk
Like and subscribe for more financial market insights.
#EmergingMarkets #CrudeOil #StoneX #VincentDeluard
