This is Macro Voices, the free weekly financial podcast targeting professional finance, high net worth individuals, family offices, and other sophisticated investors.

Macrovoices is all about the brightest minds in the world of finance

and macroeconomics telling it like it is, bullish or bearish, no holds barred. Now, here are your

hosts, Eric Townsend and Patrick Suresna. Macrovoices episode 518 was produced on February 5th, 2026. I'm Eric Townsend.

By popular request, Energy Outlook Advisors Managing Partner, Dr. Anas Al-Haji joins me as this week's feature interview guest.

We'll discuss the events that have transpired in energy markets since Dr. Ahaji's last interview back in November.

Then we'll cover all the big geopolitical risks, and finally we'll end on the three big events that he's watching in this week's

energy markets. At the end of the feature interview, you'll hear Anna suggest another follow-on

interview dedicated to the subject of President Trump, artificial intelligence, and their

long and short-term impacts on energy markets, including nuclear energy. Let us know on X if you want

that follow-up interview, and if there's enough interest, we'll organize a Twitter spaces to cover

those topics separate from macrovoices. Then be sure to stay tuned for our postgame segment after the feature interview when we'll

have Patrick's trade of the week plus our latest perspective on all the major markets, including

the massive whipsaw in the gold market.

And I'm Patrick Serresna with the macro scoreboard week over week as of the close of Wednesday, February 4th,

2026. The S&P 500 index down 138 basis points, trading at 6882. Markets looking heavy with some

serious cracks emerging in the tech space. We'll take a closer look at that chart and the key

technical levels to watch in the post-game segment. The U.S. We'll take a closer look at that chart and the key technical levels to watch

in the post-game segment. The U.S. Dollar Index up 136 basis points, trading at 9764. The March,

a WTI crude oil contract, up 305 basis points, trading at 6514, continues to show resiliency.

The March R. Bob gasoline, up 316 basis points, trading at 196, the April gold contract,

down 730 basis points, trading at 4950.

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