Energy Data Response US Weekly Petroleum Status Report Oil stocks fell last week despite a large rebound in net imports. However, gasoline stocks surged as output from refineries increased and demand dropped. 7th December 2016 · 1 min read
Middle East & North Africa Economics Update Saudi economy holds steady in Q3 Our GDP Tracker suggests that Saudi Arabia’s economy stabilised in Q3 and was on an improving trend towards the end of the quarter, supported by stronger growth in the oil sector. 7th December 2016 · 1 min read
Metals Chart Pack Investor enthusiasm buoying the prices of industrials Investors have been encouraged by stronger economic data out of China and the prospect of fiscal stimulus in the US and have significantly increased their exposure to industrial metals. Conversely... 6th December 2016 · 1 min read
Emerging Europe Economics Focus What higher and lower oil prices would mean for Russia The volatility in oil prices over the past couple of months has prompted clients to ask us how higher and lower oil prices could affect the outlook for Russia’s economy. In this Focus, we use several... 6th 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
Commodities Weekly OPEC seal the deal Oil prices surged this week as OPEC surpassed expectations by confirming production cuts and announcing quotas for member countries. Given OPEC’s poor record on compliance, we are sceptical that the... 2nd December 2016 · 1 min read
Global Economics Update OPEC agreement not such a big deal for the world economy Global oil prices jumped as much as 19% this week as OPEC finalised an agreement to cut production. However, this is not as big a deal as the headlines imply. Prices are only a little higher than they... 2nd December 2016 · 1 min read
Precious Metals Update Palladium market to continue to tighten in 2017 The performances of the three main platinum group metals (PGMs) – platinum, palladium and rhodium – have diverged sharply over the past few months. Palladium has seen the biggest gains in the year-to... 2nd December 2016 · 1 min read
Commodities Chart Pack Markets focus on the Trump positives Following the victory for Donald Trump in the US presidential election, commodity markets chose to focus on his promise of a large fiscal stimulus, including a substantial increase in infrastructure... 1st 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
Energy Data Response US Weekly Petroleum Status Report Lower net imports of crude oil appeared to be the main driver of the draw on crude oil inventories as demand from refineries actually fell last week. 30th November 2016 · 1 min read
Industrial Metals Update Stocks continue to dwindle It has been a quiet month for stock movements, with the exception of copper. However, the drop in LME copper stocks and surge in Shanghai inventories can be largely explained by price arbitrage... 29th November 2016 · 1 min read
Energy Update OPEC deal looks even more perilous Oil prices have been buffeted over the last week by hopes and concerns about the outcome of tomorrow’s OPEC meeting, but we still think that the group will manage to reach a face-saving deal. 29th November 2016 · 1 min read
Latin America Data Response Colombia GDP (Q3) The sharp slowdown in Colombian GDP growth, to just 1.2% y/y in Q3 from 2.0% y/y in Q2, was due in part to the effects of a truck drivers’ strike. With the dispute having now ended, Q3 may prove to be... 25th November 2016 · 1 min read
Commodities Weekly Oil market in wait-and-see mode The prices of industrial metals surged again this week, in large part due to investor buying. In contrast, the price of gold fell further as the dollar appreciated and the minutes of the November FOMC... 25th November 2016 · 1 min read
