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How long will coal and gas prices remain sky-high?

Coal and natural gas prices have soared around the world on the back of unseasonable weather and disruptions to supply. And even if the weather normalises and supply rebounds soon, we expect prices to remain high at least into the start of 2022 as stocks will still need to be rebuilt from their current lows. CE Spotlight 2021: The Rebirth Of Inflation? We’re holding a week of online events from 27th September to accompany our special research series. Event details and registration here.
Kieran Clancy Commodities Economist
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More from Energy

Energy Data Response

US Weekly Petroleum Status Report

The rise in US crude stocks was in large part down to a drop in exports. More interesting was the jump in implied gasoline consumption, which probably reflects the recent fall in prices. This may not be sustainable if, as we think likely, Russia-related risks lead to higher crude prices later in the year.

10 August 2022

Energy Update

We’re less upbeat about OPEC oil supply

Concerns about the demand outlook have dragged the Brent crude oil price towards $90 per barrel this week. But, the supply-side concerns which pushed the price over $120 per barrel not too long ago haven’t entirely vanished. Indeed, following the OPEC+ meeting this week, we are now less upbeat on supply. Oil and the Gulf Drop-In (9th Aug): What’s the outlook for oil prices and what does that mean for Gulf economic outperformance? Join economists from our Commodities and Emerging Markets teams for this 20-minute briefing. Register now.

5 August 2022

Energy Data Response

US Weekly Petroleum Status Report

Crude oil prices have been for a rollercoaster ride today, rising by $3 per barrel following the OPEC+ meeting, and then more than erasing those gains later on. Prices fell particularly sharply after US stocks data came out, which showed a rise in commercial stocks. But, we think investors might have missed the bigger picture, which is that stocks including government reserves fell for the 24th time this year.

3 August 2022

More from Kieran Clancy

Commodities Update

Shift in spending could hit demand for commodities

Although world trade volumes are likely to hold up for a while yet, a reversal of some of the shift in spending patterns caused by the pandemic is likely to weigh on commodity demand. This is another reason to expect most commodity prices to end the year lower.

8 September 2021

Commodities Update

Jump in China commodity imports a flash in the pan

China’s imports of key commodities rose almost across the board in August, but we doubt that this is the start of a new upwards trend. Instead, with many of the factors that had boosted demand now fading, we expect China’s commodity imports to resume their decline between now and the end of the year.

7 September 2021

Energy Data Response

US Weekly Petroleum Status Report

Last week’s sharp fall in US commercial crude stocks is at odds with many of the underlying indicators. In any case, stocks seem likely to rise in the weeks ahead as reports suggest that refinery activity will take longer to restart than crude production in the aftermath of Hurricane Ida.

1 September 2021
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