Commodities Weekly Coronavirus continues to plague commodities Commodity prices lost ground last week, as the rapid spread of the Wuhan coronavirus has dented China’s near-term growth prospects. Indeed, both oil and base metals prices have fallen 10% from their... 31st January 2020 · 7 mins read
Energy Outlook Oil to outperform Provided that the coronavirus is contained, a gradual pick-up in global economic growth at a time of constrained supply should set the scene for higher oil prices in 2020. In contrast, we expect the... 30th January 2020 · 17 mins read
Precious Metals Update Palladium dancing to its own tune Palladium’s blistering price rally has probably run its course, but we expect prices to remain close to historic highs in 2020. The market is mired in a deficit and demand growth looks set to remain... 30th January 2020 · 3 mins read
Commodities Update Is the coronavirus-led collapse in oil prices justified? Our analysis suggests that it is difficult to square the coronavirus-led sell-off in oil markets with the fundamentals. Instead, we think the move is rooted in a marked deterioration in investor... 29th January 2020 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks rose last week owing in large part to lower refinery activity. Crude stocks may remain high for some time in light of high gasoline inventories, but we expect them to ease back later... 29th January 2020 · 2 mins read
Commodities Outlook Cautiously optimistic A gradual rebound in global economic growth and, in many cases, constrained supply mean that we are broadly positive on the outlook for most commodity prices in 2020-21. One exception is the price of... 27th January 2020 · 25 mins read
Commodities Weekly Coronavirus highlights fragility of price recovery Fears that the outbreak of a new coronavirus in China could dent demand hit industrial commodity prices hard this week, erasing almost all year-to-date gains. We don’t pretend to be experts on public... 24th January 2020 · 7 mins read
Energy Watch No respite for European coal prices European coal prices are close to historic lows. This Energy Watch explains why we think a recovery is not on the cards either in the short or the long run. 24th January 2020 · 5 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks declined last week despite a drop in exports and refining activity. We think that crude inventories will begin to fall more rapidly later this year as economic growth recovers and... 23rd January 2020 · 2 mins read
Commodities Weekly Wait and see … The lukewarm market reaction to the signing of the Phase One trade deal between the US and China lends weight to our view that an agreement had already been priced by commodities markets. For our part... 17th January 2020 · 7 mins read
Commodities Update Phase One deal no bonanza for commodities There has been a muted response in commodities markets to the signing of the Phase One trade deal between the US and China, perhaps because the good news was already priced in. That said, it may also... 16th January 2020 · 3 mins read
Australia & New Zealand Economic Outlook RBA’s work not done yet Australia’s house prices may rise by 8% this year but consumers are still reeling under high debt loads. With growth set to fall short of potential, we still expect unemployment to rise further which... 16th January 2020 · 22 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks fell, mainly because of a drop in net imports. We expect crude inventories to decline further through the course of the year as US exports creep higher and the economy... 15th January 2020 · 2 mins read
Commodities Update Wheat prices to plummet by 20% in 2020 We think that a combination of stronger supply, and weaker demand, growth will push the wheat market into a surplus this year. As a result, we expect wheat prices to drop by about 20% in 2020. 15th January 2020 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Jan.) OPEC production fell again in December, led once more by Saudi Arabia. We continue to think that OPEC will maintain its production restraint for the remainder of 2020 to support prices. 15th January 2020 · 3 mins read
Precious Metals Update Gold set to lose Midas touch While the price of gold remains elevated at present, we think it’s only a matter of time before it begins to ease back. Subdued gold imports in China and India and softer safe-haven demand should... 14th January 2020 · 3 mins read
