Commodities Update How low could oil prices go if Saudi open the oil taps? With the means, motive and opportunity for Saudi Arabia to undergo a reversal in oil policy falling into place, this Update thinks through the possible ramifications of such a move. In short... 17th October 2024 · 3 mins read
Commodities Update It is when, not if, Saudi Arabia opens the oil taps Although the focus in the oil market has shifted to geopolitical risks and potential short-term supply disruptions, just as importantly, we think the possibility that Saudi Arabia could open the... 14th October 2024 · 3 mins read
Commodities Weekly All eyes on China again; Hurricane Milton fallout While fiscal stimulus could provide some short-term support to metals prices, the key issue is that China's troubles are structural. So, China's metals demand probably won't be in a much healthier... 11th October 2024 · 4 mins read
Commodities Update Taking stock of the two-speed electric vehicle rollout While electric vehicle (EV) rollouts in Europe and the US have stalled and are set to remain sluggish over the next few years, the uptake of EVs in China has surged beyond expectations. So, for all... 9th October 2024 · 4 mins read
Commodities Weekly China stimulus a silver bullet for metals? Think again The stimulus packages announced by Chinese policymakers were the main reason behind the chunky increases in industrial metals prices this week, and explain why they performed better than most other... 27th September 2024 · 4 mins read
Commodities Update What to make of Saudi Arabia’s oil market plans? Today’s news that Saudi Arabia will proceed with unwinding its voluntary oil output cuts from December does not change our thinking on the oil market balance; we still expect the market to be in a... 26th September 2024 · 3 mins read
Commodities Weekly The Fed cuts, commodity prices rise but it won’t last The Fed’s decision to cut interest rates by 50 bp gave most commodity prices a boost this week. We suspect that lower interest rates won’t have a sizeable impact on US commodity demand this quarter... 20th September 2024 · 4 mins read
Commodities Focus Metals: China slowdown to offset green transition While the green transition and AI-related use will boost demand for industrial metals over the rest of this decade, we expect this to largely be offset by a substantial contraction in demand from... 19th September 2024 · 10 mins read
Commodities Weekly OPEC+ definitely maybe in charge of the oil market The big news this week was the decision by some OPEC+ members to extend their voluntary output cuts until December. The immediate implications of the delay to unwinding voluntary output for the oil... 6th September 2024 · 4 mins read
Commodities Update Cracks in oil demand to put OPEC+ to the test The latest drop in oil prices, coupled with our expectation for global demand to remain weak, will make it practically impossible for OPEC+ to increase output while keeping Brent crude prices above... 4th September 2024 · 4 mins read
Commodities Weekly Normal gold service resumes; OPEC+’s conundrum While the stonking rally in gold prices earlier this year was at odds with traditional market drivers, the latest leg up in gold prices – which saw the nominal price reach yet another fresh record... 30th August 2024 · 4 mins read
Commodities Weekly Lack of ceasefire deal poses risks; gold at record The apparent stall in the ceasefire talks between Israel and Hamas limited the fall in oil prices this week. While we think a deal wouldn’t be a game-changer for oil prices, a further breakdown in... 23rd August 2024 · 4 mins read
Commodities Weekly Escondida strike; China tightens grip on antimony The strike at the world’s largest copper mine, Chinese export curbs on another critical mineral and the iron ore price tumbling to a yearly low rocked metals and minerals markets this week. While we... 16th August 2024 · 4 mins read
Commodities Chart Pack Commodities Chart Pack (Aug. 2024) Commodities have not been immune to the recent turmoil in financial markets, with the prices of most industrial metals, agricultural, and energy commodities extending their downward trends over the... 7th August 2024 · 1 min read
Commodities Update China, not a US slowdown, the key for industrial metals Following another leg down in industrial metals prices, this time due to growing worries about a US recession and the broader financial market carnage, we still think that prices will fall further... 7th August 2024 · 3 mins read
Commodities Update Sell-off in oil markets has gone too far The sharp fall in oil prices over the past week shows that fears of a US recession have so far outweighed concerns about conflict in the Middle East. But we think that oil prices have fallen too far... 6th August 2024 · 3 mins read
