Energy Watch Are we too bullish on oil prices? Steadily rising crude stocks have sent prices tumbling recently. This Energy Watch looks at whether our assumptions about OPEC, US shale oil production and demand are still valid and where the... 24th March 2017 · 1 min read
OPEC Watch OPEC production falls as compliance improves OPEC continued to reduce its production in February. However, the group also revised upwards its expectations for non-OPEC output. 14th March 2017 · 1 min read
Metals Watch A bright road ahead for cobalt…but beware of bumps While we have been positive on the prospects for cobalt prices for some time now, we think that the most recent rally is overdone. Admittedly, the market is tightening. But, in our view, the move-up... 8th March 2017 · 1 min read
Commodities Watch Policy uncertainty is weighing on US agriculture In late February, the US Department of Agriculture (USDA) published its first assessment of the prospects for US crops in 2017/18. In this Commodities Watch, we will discuss the USDA’s forecasts and... 8th March 2017 · 1 min read
Energy Watch What could Trump’s trade policies mean for energy markets? Donald Trump’s proposed restrictions and tariffs on trade could cause turmoil in both the domestic and international energy markets if enacted. This Energy Watch takes a first look at what some of the... 22nd February 2017 · 1 min read
OPEC Watch OPEC reins in production OPEC’s oil production dropped sharply in January as the group’s new output quota came into force. However, Iran, Libya and Nigeria continued to increase output. 13th February 2017 · 1 min read
Commodities Watch Agricultural prices to come under pressure in 2017 For the most part, the prices of agricultural commodities in US dollar terms rose in 2016, owing to a combination of weather-related supply disruptions, rising oil prices and some weakness in the US... 31st January 2017 · 1 min read
Metals Watch Metals to take a breather in 2017 While we had always been positive on the outlook for metals in 2016, even we were surprised by the scale of the rally. Indeed, we are now concerned that the prevailing optimism about demand for... 30th January 2017 · 1 min read
Energy Watch China is in the driving seat when it comes to coal Coal was one of the best performing commodities in 2016 after years of declining prices. However, this revival was primarily due to reductions in supply coupled with cold weather, which boosted demand... 25th January 2017 · 1 min read
OPEC Watch Nigeria and Saudi Arabia pull OPEC output lower OPEC oil production fell last month, but this was partly due to temporary disruptions in Nigeria. Meanwhile, the group expects non-OPEC output to increase this year. 18th January 2017 · 1 min read
Metals Watch Nickel market to tighten, but will that be enough? The prospect of reduced mine supply from the Philippines was a key driver of the rally in nickel prices in the second half of 2016. However, the price of nickel still underperformed its base metal... 3rd January 2017 · 1 min read
Energy Watch Rumours of OPEC’s death have been greatly exaggerated OPEC has managed to confound its sceptics (including us) by masterminding an agreement between OPEC and non-OPEC countries to cut output substantially next year. This Energy Watch looks at the... 16th December 2016 · 1 min read
OPEC Watch Angola, Libya and Nigeria push OPEC’s output higher Further increases in output from Libya and Nigeria will make it more difficult for OPEC to reach their output quota of 32.5m bpd. 14th December 2016 · 1 min read
Commodities Watch Robust supply to weigh on soybeans prices October’s rise in retail sales and November’s decent euro-zone PMIs are consistent with an acceleration of GDP growth in Q4. But with Italy’s “No” vote heightening political risks, the prospects for... 5th December 2016 · 1 min read
Metals Watch What’s next for zinc prices? Over the past year, zinc prices have rallied strongly, reaching a nine-year high recently, on the back of mine closures and production cuts. While the refined market will continue to tighten through... 30th November 2016 · 1 min read
OPEC Watch OPEC confirms Algiers deal, but real test still to come OPEC’s agreement to cut production by 1.2m bpd, in line with the provisional deal made in Algiers at the end of September, was more ambitious than the market (and we) had expected. However, the focus... 30th November 2016 · 1 min read
