New Monday to Thursday. Live Friday.

Understand markets, companies and money.

Markets to Freedom investigates the markets, companies and events that matter. New investigations Monday to Thursday, with a live session on Friday. We examine the evidence, separate facts from assumptions and work out what we know, what remains uncertain and what could change the picture.

Watch live Grab the analysis behind the investigations Meet the host

25 years in energy markets

Shell Gazprom Marketing & Trading Refinitiv Enmacc ICIS

The method

What happens during the show

Each show takes one question worth answering and works it through in the open. Not stock tips. Not trading signals. The work behind understanding something properly.

Evidence

What the evidence tells us

The numbers, filings, charts and primary sources, on screen, with the date they were published and where they came from.

Classification

Fact, assumption or narrative

What is established, what is being assumed, what is genuinely uncertain and what is simply the story being told about it.

Connection

How the pieces connect

How one piece of information bears on another. Where a chain of reasoning is strong and where it is thin.

Fragility

What could change the conclusion

The evidence that would move the view, so you can watch for it yourself rather than wait to be told.

Next step

Where the investigation goes next

The sensible next question. What it would take to answer that one properly.

Who it is for

For people who want to understand, not be told

You do not need to work in finance to join in. You may already invest, be thinking about starting or simply want to make better sense of what is happening in markets and the wider world. What matters is that you are curious, willing to look at the evidence and want to learn how to reach your own conclusions.

The subject changes with whatever is worth understanding at the time. A company and its economics after a set of results. A central bank decision. An energy market. A geopolitical event. A piece of economic data that did not say what the headline claimed it said.

What this is and what it is not

Markets to Freedom is financial capability education, investigation and commentary. We examine real companies, markets and events, including company economics, results, valuation, market expectations and risks. We do not give personal financial advice, make buy, sell or hold recommendations, publish trading signals or tell you what you should do with your own money.

Your host

Rukes Ahmed

Energy markets veteran · 25 years

I spent a decade trading energy on the desk at Shell and Gazprom Marketing & Trading, then years building and leading market data, analytics and forecasting businesses at Refinitiv (now LSEG) and ICIS. Most of that work came down to the same thing: making a complicated market legible to the people who had to make decisions inside it.

Markets to Freedom is that work done in the open. I bring the question, the evidence and the reasoning. We go through it together.

Senior Executive at ICIS
Global Head of Power, Gas, Carbon and Coal at Refinitiv
Energy Trader at Gazprom Marketing & Trading
Energy Trader at Shell

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Work with me

Open to a small number of projects

Alongside Markets to Freedom, I take on a small number of projects in power, gas and carbon trading, AI data centre businesses and commodity intelligence services, where I can help with a market or commercial strategy question, a go to market plan or a specific problem worth solving.

Work with me

Grab the analysis behind the investigations.

One email each Sunday bringing together the research behind the week's most worthwhile investigations, prepared so you can explore it in your own time.

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