Katherine Spector is a Non-Resident Fellow at the Center on Global Energy Policy focusing on traded and financial energy markets, with an emphasis on oil and natural gas. She is a longtime energy market analyst, having spent the past fifteen years producing thought-leading research at major banks. The bulk of her career was spent leading energy strategy and research for the commodity derivatives sales and trading desks at CIBC World Markets, JPMorgan Chase, and Deutsche Bank, all based in New York. Ms. Spector was responsible for the banks’ energy price forecasts and market views, and she produced analysis of global energy supply-demand fundamentals, financial positioning, and market-moving geopolitics. Her work supported bank traders and originators in all major regions, and clients ranged from oil and gas companies, to institutional investors, to representatives of US and international government.
Prior to her work on Wall Street, Ms. Spector worked as the editor of Oil Market Intelligence at the Energy Intelligence Group and as a consultant with Industrial Economics, Inc. where her work included litigation support for the deregulation of natural gas utilities. She has also served as an adjunct faculty member at Columbia’s School of International and Public Affairs, and held term membership at the Council on Foreign Relations. She currently serves on the board of the New York Energy Forum, an educational organization dedicated to increasing public knowledge about energy issues. Ms. Spector has appeared regularly in print and television media.
Ms. Spector graduated with honors with a degree in Political Science from Yale University, where her research focused on patterns of rent distribution in petro-states, and implications for democratization.
The fourth quarter of 2018 has been a wild ride for oil markets and—though somewhat overshadowed by crude—a historic month for US natural gas markets as well.
Market memories are short, and the fact that US natural gas benchmark Henry Hub hasn’t seen a bullish winter since 2013–14 may explain apparent complacency about unusually low storage levels heading into winter.