Energy Update Oil prices vulnerable to a shift in investor sentiment Near-record non-commercial net-long futures positions in the oil market mean that prices could fall sharply if investor sentiment sours. 10th April 2018 · 1 min read
Commodities Weekly Protectionist rhetoric weighs on prices Trade tensions escalated this week, as the US and China engaged in tit-for-tat announcements on proposed tariffs. The prices of commodities which would be affected by the tariffs generally fell... 6th April 2018 · 1 min read
Energy Chart Pack Rising geopolitical tensions lift oil prices March was a mixed month for energy commodities. Oil prices jumped on the back of rising tensions in the Middle East and speculation that OPEC would extend its production cuts into 2019. However... 5th April 2018 · 1 min read
Commodities Update Tariff bark could be worse than its bite For now, there is optimism that ongoing negotiations between the US and China will prevent a significant escalation in trade tensions. However, there remains a risk of rising protectionism, which... 5th April 2018 · 1 min read
Metals Chart Pack Rising protectionism drives prices lower Fears of a trade war between China and the US and heightened geopolitical tensions weighed on most metals prices last month as investors rotated out of risky assets and into safe havens. In contrast... 4th April 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Inventories of crude oil slumped last week as exports rebounded and refineries processed more crude. However, production set another weekly record. We still expect prices to fall this year as surging... 4th April 2018 · 1 min read
Industrial Metals Update Subdued demand to weigh on copper The price of copper has already fallen back sharply but we think this is more about heightened geopolitical risk than fundamentals. The price may revive in the near term if risks start to fade, but... 3rd April 2018 · 1 min read
Commodities Chart Pack Oil rises, despite trade woes Commodity prices drifted down in March, despite a relatively stable US dollar. However, given the slump in developed market equities, commodity prices held up relatively well. This was largely due to... 3rd April 2018 · 1 min read
Commodities Update Heavy industry unlikely to lift China’s PMI for long China’s unofficial and official manufacturing PMIs diverged again in March. The easing of pollution controls on heavy industry gave a boost to the official index, but slower growth elsewhere weighed... 3rd April 2018 · 1 min read
Commodities Weekly A quiet week for commodities Commodity markets took something of a breather this week after last week’s sharp moves. Fears of a trade war between the US and China have receded a little, which helped to stabilise prices. The... 29th March 2018 · 1 min read
Commodities Watch Taking stock of the first quarter In this Commodities Watch, we review developments in the first quarter of this year and draw conclusions about what they mean for our price forecasts. 29th March 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Inventories of crude oil rose last week as imports rebounded and production grew again. Admittedly, demand from refineries and consumers is strong. But we still expect soaring output to lead to higher... 28th March 2018 · 1 min read
Energy Watch Is OPEC risking its own “taper tantrum”? Oil prices have surged recently, partly due to expectations that OPEC will extend its production cuts into next year. However, some members of the group are emphasising the need for an exit strategy... 28th March 2018 · 1 min read
Precious Metals Update Time to buy gold? The price of gold has benefited from heightened geopolitical risk in recent weeks. While prices are likely to remain well supported in the short term as global trade worries see investors rotate out... 28th March 2018 · 1 min read
India Economics Update Prospects for the rural economy are bright After taking a significant hit in the aftermath of demonetisation in late 2016, India’s rural economy has regained momentum in recent months. Future prospects for the rural economy look bright, in... 28th March 2018 · 1 min read
Metals Data Response China and India Gold Imports (Feb.) The latest trade data for India and China showed divergent trends in the two largest consumers. On the one hand, China’s gold imports remained robust although underlying demand appears to have... 27th March 2018 · 1 min read
