Energy Watch OPEC’s past form points to disappointment in Algiers Speculation about a potential deal to freeze output at the unofficial OPEC meeting at the end of September has been largely responsible for the increase in oil prices over the past month. This Energy... 13th September 2016 · 1 min read
OPEC Watch OPEC pushes back market rebalancing OPEC production remained at near-record highs in August. What’s more, the group revised up its estimate of non-OPEC output for both this year and next. 12th September 2016 · 1 min read
Precious Metals Update Why are central banks giving a cold shoulder to gold in 2016? Since 2010 central banks have become major buyers of gold, accounting on average for about 10% of total gold demand over the past five years. However, demand from the official sector has been... 12th September 2016 · 1 min read
Commodities Weekly A roller-coaster week for oil The price of oil has alternately surged and plunged this week, buffeted by a sharp (but probably temporary) fall in US stocks and speculation about prospects for supply. Indeed, stability in prices... 9th September 2016 · 1 min read
Emerging Markets Trade Monitor EM exports stumble, but recovery will continue We think that one-off disruptions explain most of the fall in EM exports in July. More timely data already suggest that EM export growth was stronger in August. 9th September 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report (8th Sep. 16) US crude stocks fell by the second largest amount on record last week. However, this was almost entirely due to a drop in imports which may rebound next week. 8th September 2016 · 1 min read
Metals Data Response South Africa’s Mine Production (Jul.) South Africa’s overall mine production remained subdued in July, dragged down by yet another fall in PGM output. However, the profitability of the PGM industry has continued to improve owing to higher... 8th September 2016 · 1 min read
Commodities Update China’s commodity imports bounced back in August After a slowdown in July, growth in China’s commodity import volumes rebounded in August. This was perhaps to be expected as July activity indicators were encouraging and the unofficial manufacturing... 8th September 2016 · 1 min read
Commodities Watch Coffee prices perking up The prices of both robusta and arabica coffee are now at close to 18-month highs, as a result of weather-related crop damage, concerns about future supply and falling export volumes. However, if... 7th September 2016 · 1 min read
Precious Metals Update Any weakness in silver prices to be short-lived The silver price has surged this year, together with gold, bolstered by investor demand especially in the wake of the UK Brexit vote. Although prices might give up some of their recent gains when Fed... 7th September 2016 · 1 min read
Middle East & North Africa Economics Update Saudi Arabia: revisiting the hit from lower oil prices Saudi Arabia’s upcoming Eurobond issuance has thrust the country’s finances back under the spotlight. Overall, the hit from lower oil prices has been significant – annual oil export revenues are down... 6th September 2016 · 1 min read
Metals Chart Pack Investor interest on the wane A stronger US dollar on the back of renewed expectations that the Fed will hike rates by the end of the year weighed on the prices of most industrial and precious metals last month. The only metals... 5th September 2016 · 1 min read
Energy Update What to make of Russia and Saudi Arabia’s statement on oil The statement by Russia and Saudi Arabia earlier today that the two countries have agreed to work together to try to stabilise the oil market did very little to justify the almost 6% surge in oil... 5th September 2016 · 1 min read
Commodities Weekly Prices get a payrolls boost A weaker-than-expected US employment report on Friday all but removed the prospect of a US interest rate rise this month, although we still think a hike is likely before the end of the year. The... 2nd September 2016 · 1 min read
Energy Update Taking stock of the EIA’s oil inventories report The gyrations in oil prices in response to the EIA’s weekly petroleum status report are rarely justified, since the biggest determinant of weekly changes in US stocks is variations in net crude... 2nd September 2016 · 1 min read
Commodities Chart Pack Dollar strength weighs on commodities The prices of most commodities retreated in late August as the dollar strengthened on the back of renewed expectations that the Fed will raise rates this year. That said, activity data out of China... 1st September 2016 · 1 min read
