Commodities Watch Why we are not in a new commodity supercycle The latest rally in many commodity prices has prompted some commentators to herald the arrival of a new commodity supercycle. In this Commodities Watch, we outline what is meant by a supercycle and... 8th February 2021 · 5 mins read
Commodities Weekly Silver briefly in the spotlight … In an otherwise fairly quiet week, some wild gyrations in the silver market were the focus of investor attention. Starting late last week, the price of silver surged by 20% to reach a multi-year high... 5th February 2021 · 7 mins read
Energy Watch What if travel restrictions are not eased later this year? In this Energy Watch, we discuss a key risk to our forecast of a further rise in oil prices by year-end, namely the possibility that insufficient progress on vaccine rollouts and/or concerns over new... 4th February 2021 · 5 mins read
Precious Metals Update Just another spell of volatility for the silver price Many media reports have linked silver’s recent price volatility to last week’s targeted buying of a handful of small US equities by retail investors. But we reckon that it marks just another bout of... 4th February 2021 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report Commercial crude stocks continued their counter-seasonal decline last week, even as net imports rebounded and refinery throughput eased back slightly. We expect inventories to decline further over the... 3rd February 2021 · 2 mins read
Energy Update End of stockpiling bonanza to hold back oil prices An often-overlooked factor supporting oil prices last year was the surge in stockpiling by China and India. But given the rebound in prices since then, and how much inventories have now risen, we... 2nd February 2021 · 3 mins read
Precious Metals Update Physical demand to bolster gold prices in 2021 Despite a surge in gold prices last year, physical demand for gold fell precipitously. But we think that a brighter economic outlook will boost consumer demand this year and help to prop up the gold... 2nd February 2021 · 2 mins read
Commodities Weekly Quiet week offers a chance to reflect on our forecasts It was another largely uneventful week in commodity markets. For all the talk of an impending ‘super cycle’, the prices of most commodities have generally continued to struggle to extend the large... 29th January 2021 · 8 mins read
Commodities Update Animal feed consumption to increase Despite the ongoing economic uncertainty, we expect that global demand for meat and animal feeds, such as corn and soybeans, will rise over the next few years. 29th January 2021 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks sank last week, as net imports plummeted. Assuming that progress on COVID-19 vaccines continues, we expect a pick-up in demand will weigh on stocks from Q2 onwards. 27th January 2021 · 2 mins read
Energy Update Weighing up the prospects for US oil production Higher prices and a backlog of uncompleted wells should ensure that US crude oil production edges up slowly over the next couple of years. But with many of the challenges facing the sector still... 27th January 2021 · 2 mins read
Energy Outlook Rebound in prices to continue, except for coal The revival in oil demand and prices should continue to gather pace in 2021 as the lifting of quarantine measures enables the release of ‘pent-up’ demand associated with leisure activity. Meanwhile, a... 25th January 2021 · 19 mins read
Energy Data Response US Weekly Petroleum Status Report Following five consecutive weeks of declines, commercial crude stocks in the US rose last week. Together with still-high rates of new COVID-19 infections, this points to a gloomy near-term outlook for... 22nd January 2021 · 2 mins read
Commodities Weekly Investor buying will support prices, for now Despite some parts of China re-introducing lockdown measures and reported virus cases around the world continuing to spiral upwards, the prices of most commodities held up well this week as investor... 22nd January 2021 · 7 mins read
Commodities Outlook Oil to outperform in 2021 In a reversal of the trend in 2020, we expect oil prices to rise this year and the prices of industrial metals and agriculturals to fall. We suspect that oil demand, particularly in developed... 22nd January 2021 · 23 mins read
Commodities Weekly Time for a reality check After the broad-based rally of the last few weeks, the prices of many industrial commodities dipped a little this week, reflecting concerns about rising new virus cases and the widespread tightening... 15th January 2021 · 7 mins read
