Commodities Weekly OPEC+ to stand pat, for now OPEC+ is set to meet next Tuesday, when we expect the group to agree to continue with its incremental increases in production through to July. We think it unlikely that the group will address the... 28th May 2021 · 6 mins read
Commodities Weekly Signs that price rallies are beginning to falter The prices of most commodities dropped back again this week as global equity markets struggled to make ground and virus cases in parts of Asia continued to rise. Meanwhile, reports emerged that good... 21st May 2021 · 5 mins read
Commodities Weekly The price rally may be starting to run out of steam Aside from coal and natural gas, the prices of most commodities fell this week in tandem with the declines in global equity markets. Investors are concerned about rising inflation, particularly in the... 14th May 2021 · 6 mins read
Commodities Weekly Rally in metals prices looking increasingly stretched Commodity prices pushed higher yet again this week. Most notably, the seemingly unassailable climb in industrial metals prices saw the price of copper push above $10,000 per tonne for the first time... 7th May 2021 · 6 mins read
Commodities Weekly The demand outlook remains uncertain It was another good week for commodity prices, with the exception of precious metals. Somewhat better-than-expected Q1 GDP and survey data, particularly in the euro-zone, was one factor fuelling... 30th April 2021 · 6 mins read
Commodities Weekly Rising risks to supply of agriculturals Most commodity prices increased this week, with the prices of agricultural commodities rising particularly strongly. The prices of corn, soybeans and wheat surged, reaching new multi-year highs on the... 23rd April 2021 · 6 mins read
Commodities Weekly Slew of positive data gives fresh fuel to price rally Most commodity prices rose this week following a batch of positive economic data releases. Oil prices were up particularly strongly on the back of a larger-than-expected weekly decline in US crude... 16th April 2021 · 6 mins read
Commodities Weekly Mixed economic outlook poses a quandary for prices It was a relatively quiet week in commodities markets, with weakness in the US dollar giving agricultural commodities, in particular, a bit of a lift. We think markets could struggle to find a clear... 9th April 2021 · 6 mins read
Commodities Weekly Oil market to remain in a deficit The decision earlier today by OPEC+ to ease its oil production cuts from May means that production from the group will be slightly higher than we had previously anticipated in Q2. However, the rise in... 1st April 2021 · 5 mins read
Commodities Weekly Impact of Suez blockage likely to be short-lived Commodities markets were something of a mixed bag this week. The grounding of a container ship in the Suez Canal helped to prop up the prices of some commodities despite growing worries over the... 26th March 2021 · 6 mins read
Commodities Weekly Optimists need a little patience Commodities markets experienced a bit of a reality check this week, with prices falling despite little material change in the underlying demand and supply fundamentals. In the same way that optimism... 19th March 2021 · 5 mins read
Commodities Weekly Tweaking our forecasts; the super-cycle debate Despite big moves in bond and equity markets, commodity markets were fairly subdued this week. Nevertheless, we expect oil prices to break higher again before long, and our new forecasts show them... 12th March 2021 · 8 mins read
Commodities Weekly Oil prices making up for lost time It was a relatively two-sided affair in commodities markets this week. On the one hand, oil prices rose on the back of greater-than-expected output restraint announced by OPEC+. And on the other hand... 5th March 2021 · 8 mins read
Commodities Weekly Bond market turmoil a wake-up call for commodities A spike in government bond yields and subsequent sell-off in equity markets caused the broad-based rally in commodity prices to go into reverse late in the week. That said, most industrial commodity... 26th February 2021 · 8 mins read
Commodities Weekly Biden’s State of the Union might boost metals prices Abnormally cold temperatures in the US, particularly Texas, have forced a significant share of US oil wells and refineries offline this week. Oil prices initially surged on the back of this disruption... 19th February 2021 · 7 mins read
Commodities Weekly Revising up our end-year oil price forecast The price of Brent crude oil breached the $60 per barrel mark this week for the first time in over a year, in a continuation of its strong performance since COVID-19 vaccines were announced in... 12th February 2021 · 7 mins read
