Commodities Weekly Downward pressure on prices is mounting Commodity prices held up well this week, despite the hawkish tone of the Federal Reserve and continued worries over a messy default by Evergrande, the Chinese property developer. Notably, European... 24th September 2021 · 5 mins read
Energy Update Three potential catalysts for lower European gas prices A mild winter in the Northern Hemisphere, a substitution of gas for other fuels in electricity generation, and/or a rise in supply via Nord Stream 2 could all send European gas prices lower in the... 24th September 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks have continued to fall as refinery activity has so far recovered faster than crude output following Hurricane Ida. And with demand already broadly back to pre-pandemic levels, US crude... 22nd September 2021 · 2 mins read
Japan Economics Update Japan’s LNG shielded from Europe price spike for now Japan’s reliance on fixed, long-term contracts for its natural gas supply should limit the impact on consumers of the recent surge in gas spot prices currently being felt most acutely across parts of... 22nd September 2021 · 2 mins read
Global Economics Update Surge in gas prices adds to near term price pressure In this Update, we answer six key questions about the surge in natural gas prices. The key point is that it will keep inflation in DMs and many EMs above central bank targets for a few months longer... 21st September 2021 · 6 mins read
Nordic & Swiss Economics Update Switzerland and Nordics to sidestep gas price woes The low use of gas, and a reliance on nuclear and renewables for electricity generation, means that Switzerland and the Nordics are less exposed to the recent surge in gas prices than other parts of... 20th September 2021 · 2 mins read
Europe Economics Update Rising gas prices will hit Spain hardest The upward pressure on euro-zone headline inflation from the surge in natural gas prices will not be felt evenly throughout the region, with Spain looking most vulnerable. Governments are stepping in... 20th September 2021 · 3 mins read
Commodities Weekly Three key developments to keep an eye on Most commodity prices ground higher this week. And, stepping back, we think events this week highlight three key themes to watch in the months ahead. First, natural gas prices show no sign of easing... 17th September 2021 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report There were hefty falls in both crude and petroleum product stocks, reflecting closed production capacity due to damage caused by Hurricane Ida. Implied gasoline demand also dropped back but it is... 15th September 2021 · 2 mins read
OPEC Watch OPEC Monthly Oil Market Report (Sep.) The rise in OPEC’s oil output fell well short of its target in August. And given a higher oil demand forecast for 2022, alongside growing external pressure, we think that the risks are tilting towards... 13th September 2021 · 3 mins read
Europe Economics Update Inflation impact of high gas prices will last into 2022 The recent surge in the prices of natural gas and coal, and therefore electricity too, has boosted energy inflation and suggests the risks to our near-term forecast for headline inflation lie to the... 13th September 2021 · 2 mins read
Commodities Weekly More of the same Commodity markets have been relatively quiet over the last few weeks, with many prices trading in a narrow range. There are a few exceptions, most notably the prices of natural gas and coal, which... 10th September 2021 · 5 mins read
Energy Update 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... 10th September 2021 · 4 mins read
Energy Data Response US Weekly Petroleum Status Report There was a small draw in crude stocks last week, despite a dramatic drop in refinery utilisation as many refineries closed ahead of the Hurricane Ida. Notwithstanding, US gasoline demand remained... 9th September 2021 · 2 mins read
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... 7th September 2021 · 2 mins read
Commodities Commodity prices on increasingly shaky ground After sharp falls in the middle of the month, most commodity prices ended August broadly flat. However, we doubt it will be long before the downward pressure on prices intensifies again. After all... 3rd September 2021 · 11 mins read
