Commodities Weekly Oil prices plunge as Russia refuses to play ball Oil prices closed below $50 per barrel this week for the first time in two years as Russia refused to rollover or deepen OPEC+ output cuts at the latest meeting with OPEC in Vienna. As a result, we... 6th March 2020 · 7 mins read
Metals Chart Pack Don’t rule out further price falls February was another poor month for industrial metals. However, prices fell by less than in January and policy loosening seems to have stabilised prices more recently. That said, the outbreak of COVID... 6th March 2020 · 7 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks continued to edge higher this week as a rise in domestic crude output and lower refinery activity offset a fall in net imports. Product demand remains healthy for now, but if COVID-19... 4th March 2020 · 2 mins read
Asset Allocation Long-Term Outlook Don’t expect another roaring ‘20s, even after virus fears fade This is the first edition of our annual Long-Term Asset Allocation Outlook. It covers the outlook for asset returns over the next decade, and is designed to complement the standard Asset Allocation... 4th March 2020 · 20 mins read
Commodities Chart Pack Prices still searching for the bottom Commodity prices continued to fall in February as the coronavirus, which started in China, spread to most other regions of the world and sparked fears of a slowdown in global economic activity. We... 4th March 2020 · 8 mins read
OPEC Watch Collapse in prices to force OPEC+ to cut output We expect OPEC+ to agree to an emergency output cut of an additional 1m bpd for at least three months at its meeting later this week. This should, at a minimum, put a temporary floor under prices. 4th March 2020 · 3 mins read
Commodities Focus China slowdown key to commodity prices in the 2020s The structural economic slowdown which we expect in China over the coming decade will weigh heavily on consumption of industrial commodities and their prices. Steel will be by far the most affected... 3rd March 2020 · 15 mins read
Commodities Weekly Virus is prompting a rethink of forecasts The prices of almost all commodities plunged this week amid fears that the coronavirus is morphing into a pandemic, with negative implications for global economic activity and commodities demand... 28th February 2020 · 7 mins read
Energy Update A Democrat could spark higher oil prices We think that, at least initially, the energy proposals of a Democratic President would support oil prices by curbing supply more than demand. 28th February 2020 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks rose last week. That said, exports could drop soon if coronavirus-related port disruption spreads across Asia, which would put upward pressure on stocks. 26th February 2020 · 2 mins read
India Chart Pack The coronavirus impact on Indian industry Temporary disruption from the outbreak of the coronavirus should have limited macroeconomic impact on Indian industry. After all, India has a negligible supply-chain exposure to China, where factory... 24th February 2020 · 9 mins read
Commodities Weekly Markets to remain concerned about China’s demand Industrial commodity prices trod water this week as investors struggled to assess the extent of the economic fallout from COVID-19. That said, the lingering sense of uncertainty put wind in the sails... 21st February 2020 · 7 mins read
Energy Update Henry Hub to outperform amid COVID-19 outbreak While the price of US natural gas (Henry Hub) has slumped on the back of coronavirus-related concerns, it has fared better than natural gas prices elsewhere. And given the low exposure of US LNG... 21st February 2020 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks rose a touch last week despite a slump in net imports. Looking ahead, we expect strong growth in US exports together with a recovery in economic activity to push down crude stocks this... 20th February 2020 · 2 mins read
Precious Metals Update Higher truck loadings no panacea for platinum The price of platinum has risen nearly 5% since the start of February, buoyed by heightened uncertainty prompted by the outbreak of COVID-19. Later this year, and assuming the virus is successfully... 20th February 2020 · 3 mins read
Precious Metals Update Silver to outperform gold in 2020 Heightened global uncertainty related to the outbreak of the coronavirus will support gold and silver’s investment appeal in the near term. Later this year, however, and assuming the disease is... 19th February 2020 · 3 mins read
