Commodities Weekly Trade concerns wreak havoc Almost all commodity prices fell this week as the deadline for the imposition of US tariffs on China loomed large. The tariffs came into effect on Friday, and China retaliated in kind. Also on Friday... 6th July 2018 · 1 min read
Precious Metals Update Gold: short-term pain, long-term gain Despite mounting trade tensions, the price of gold has slumped in recent weeks prompting some commentators to question its safe-haven appeal. While we expect gold to remain under pressure in the short... 6th July 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Inventories of crude oil rose last week due to a jump in net imports and lower demand from refineries. Meanwhile, the Brent-WTI spread is likely to remain fairly narrow until stock levels at Cushing... 5th July 2018 · 1 min read
Energy Chart Pack Supply concerns outweigh trade wars fears Oil prices were volatile in June, falling in the first half of the month on fears of a trade war and slowing economic growth in China. But a drop in US inventories, a smaller-than-expected increase in... 4th July 2018 · 1 min read
Metals Chart Pack Trade war fears prompt metals sell-off Metals prices were caught up in the general market sell-off following the ramping up of tensions between the US and China in June. (See Chart.) Signs of softer economic growth in China also... 4th July 2018 · 1 min read
Commodities Update What can China’s equities tell us about commodities? We do not think that the latest slump in China’s equity prices will make a meaningful difference to the country’s commodity demand. However, it does suggest that investors are coming round to our long... 3rd July 2018 · 1 min read
Commodities Chart Pack Rising protectionism drags on commodity prices Overview – Most commodity prices fell in June, depressed by escalating trade tensions and a stronger US dollar. Energy prices were the main exception. 2nd July 2018 · 1 min read
Commodities Update China’s PMIs signal weaker demand China’s unofficial and official manufacturing PMIs point to a somewhat softer economy in June. We expect further weakness ahead, which will continue to weigh on the prices of most commodities. 2nd July 2018 · 1 min read
Commodities Weekly Oil bucks the trend Most commodity prices fell this week on fears of a slowdown in the Chinese economy and rising trade tensions between the US and China. The exception was oil, which jumped on the announcement of a new... 29th June 2018 · 1 min read
Africa Economics Weekly S. Africa employment, Nigeria targets imports again This week’s South African employment figures were less positive than they appear at first glance. Elsewhere, official economic growth slowed in Ghana in Q1. New poverty estimates caused a storm in... 29th June 2018 · 1 min read
Energy Focus Is the sun setting on the oil market? Slowing economic growth and rapidly rising fuel efficiency, partly due to a surge in the number of electric vehicles, mean that growth in demand for oil will slow and eventually peak over the next... 28th June 2018 · 1 min read
Metals Focus Will platinum trade at a premium again? With anti-diesel sentiment unlikely to dissipate anytime soon, we expect the price of platinum to continue to trade at a discount to palladium until 2020 when a combination of demand and supply... 28th June 2018 · 1 min read
Africa Economics Update CEMAC: Recovery will not be sustained After a painful adjustment, growth in the Central African franc zone will pick up in 2018 and 2019. The region’s longer-term outlook, however, is poor. Indeed, tensions between Cameroon and its more... 28th June 2018 · 1 min read
Middle East & North Africa Economics Weekly Bahrain gets Gulf support, new gas discovery in Egypt? The announcement on Wednesday that Bahrain is in talks with the other Gulf countries over financial support reinforces our view that, despite recent worries in the markets, its dollar peg won’t be... 28th June 2018 · 1 min read
Commodities Update Trade tensions cast a wide net Concerns about the escalation in trade tensions and the potential negative implications for global GDP growth have sparked a sell-off in commodity markets this month. However, even if fears of a trade... 27th June 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Inventories of crude oil slumped last week due to a jump in exports and higher demand from refineries. The narrowing of the Brent-WTI spread this week may put a dampener on exports, but outages in... 27th June 2018 · 1 min read
