Energy Chart Pack Prices to be falling by end-year Cold weather in parts of the northern hemisphere helped push up the prices of coal and natural gas last month, while oil prices also rose. We still think that average energy prices will be higher this... 2nd June 2021 · 6 mins read
Commodities Chart Pack Most commodity prices to fall back before long Prices generally rose in May, bolstered by signs of recovery in the global economy – led by the US – and stronger commodities demand. While prices could make further gains in the near term, we expect... 2nd June 2021 · 7 mins read
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
Long Run Returns Monitor Long Run Returns Monitor (May 2021) Our monthly Long Run Returns Monitor provides an updated set of projections for the returns from major asset classes over the next few decades. Given that the period since the previous edition of this... 27th May 2021 · 1 min read
Commodities Update Agricultural prices have further to fall We think that the prices of wheat, corn and soybeans will decline over the next six months owing to a rebound in global supply and slower demand growth in China. 27th May 2021 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report Last week’s decline in US crude stocks adds to evidence that the oil market is getting tighter. This supports our view that oil prices have further to rise in the months ahead, before higher OPEC+... 26th May 2021 · 2 mins read
Australia & New Zealand Economics Update Dependence on Australian iron ore set to decline In the short-run, China has no choice but to grit its teeth and keep buying Australian iron ore, even as bilateral ties continue to fray. But this dependence will diminish over time thanks to... 26th May 2021 · 6 mins read
Energy Update Strong demand to keep the Pacific coal price high The price of Pacific coal has surged to just over $100 per tonne for the first time since 2019. We think that the price will remain elevated for the rest of this year in large part owing to strong... 25th May 2021 · 3 mins read
Capital Daily The stock market rotation may have further to run Even if, as we suspect, the outperformance of the energy and materials sectors soon comes to an end, we expect the broader rotation in equity markets to continue over the next few years. 24th May 2021 · 6 mins read
Asset Allocation Update The next phase of the stock market rotation Although we think that the recent outperformance of the energy and materials sectors will soon come to an end, we still expect the financials sector to continue to fare better over the next few years... 24th May 2021 · 5 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
Precious Metals Update Chip shortages to dent auto industry PGM demand The recent disruption to global auto production stemming from ongoing semiconductor microchip shortages poses a downside risk to our price forecasts for platinum and palladium. In this Update, we map... 21st May 2021 · 5 mins read
Middle East & North Africa Economics Update Egypt’s gas sector to provide a boost to the recovery Egypt’s natural gas sector struggled last year as the slump in regional energy prices caused production and exports to fall. But the re-opening of key LNG infrastructure in recent months and prospects... 20th May 2021 · 5 mins read
Commodities Update Oil to disregard US dollar strength The recent depreciation in the US dollar has helped to boost commodity prices. But while we expect a stronger dollar to weigh on most commodity prices later this year, we think that oil prices will... 20th May 2021 · 2 mins read
Latin America Economics Update How big a threat is Brazil’s drought to the recovery? For now, it seems unlikely that the drought affecting Brazil will hit hydropower production hard enough to cause disruptions to electricity supply and broader economic activity. But the drought does... 19th May 2021 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks increased last week as inventories continue to be drawn down from the US government’s strategic reserves. We expect commercial crude stocks to rise further next week as... 19th May 2021 · 2 mins read
