Commodities Weekly All eyes turn to the US The US is set to take centre stage next week as it re-imposes sanctions on Iran’s oil on Monday. While this may spark bargain hunting, after this week’s slump in prices, any relief rally should be... 2nd November 2018 · 1 min read
Commodities Chart Pack Sugar on a real high, but oil prices slump Commodity prices, including oil, fell on concerns about softer economic growth and some appreciation of the US dollar. We expect a weaker demand outlook to continue to weigh on the prices of the more... 1st November 2018 · 1 min read
Middle East & North Africa Economics Weekly Saudi loosens fiscal policy, Tunisia reforms face delay Data released this week confirmed that higher oil prices have prompted Saudi Arabia’s government to loosen fiscal policy further and we expect this to continue over the next few quarters, boosting... 1st November 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Crude stocks rose for a sixth consecutive week boosted by higher US oil output and another release from the SPR. That said, product stocks fell sharply but we think this has more to do with subdued... 31st October 2018 · 1 min read
Commodities Weekly Commodities caught up in market jitters Concerns about the outlook for demand, amid sharp declines in global equity prices, are weighing on the prices of most commodities. Even the oil market, which has been focussed on supply issues for... 26th October 2018 · 1 min read
Energy Outlook Softer demand to weigh on oil and coal Oil and coal prices look set to ease back over the next year as slower global economic activity constrains demand. At the same time, recent high prices have been incentivising supply. In contrast... 25th October 2018 · 1 min read
Middle East & North Africa Economics Weekly Saudi markets not out of the woods, oil prices drop The rally in Saudi Arabia’s stock market today has partially reversed the losses suffered since Jamal Khashoggi’s disappearance hit the headlines. But the threat of sanctions, coupled with falling oil... 25th October 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Although crude stocks rose again, a larger-than-expected draw on gasoline stocks stole the headlines. However, we think gasoline stocks will rise again when refineries come out of maintenance. 24th October 2018 · 1 min read
Commodities Weekly Politics and policy may take centre stage Commodity markets will have little in the way of relevant data to focus on next week. Instead, prices are likely to be driven more by developments on the political and policy fronts. The case of the... 19th October 2018 · 1 min read
Commodities Outlook Hard to be positive on 2019 Our forecast of slower global growth next year points to weaker growth in commodities demand and lower prices. Of course, the prices of many non-oil commodities have already fallen sharply this year... 19th October 2018 · 1 min read
Middle East & North Africa Economics Update Saudi: fresh political shock and oil prices key risks to watch The fallout from the disappearance of Saudi journalist, Jamal Khashoggi, has supposedly shifted investors’ attention to the Saudi government’s rising debt burden, but we think that these concerns are... 18th October 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Inventories of crude oil jumped again as exports fell back sharply. The latest data are likely to have been distorted by Hurricane Michael but crude stocks have been building for some weeks and should... 17th October 2018 · 1 min read
Energy Update Saudi Arabia unlikely to resort to “oil weapon” We do not expect Saudi Arabia to cut oil production in response to US criticism over a missing journalist, not least because it will want to preserve the “anti-Iran axis” with the US. However, if the... 15th October 2018 · 1 min read
Canada Economics Weekly Slumping Canadian oil prices to dampen investment The steep falls in equities this week are bad enough, but it is the collapse in Canadian oil prices that could have more significant macroeconomic effects. If the capacity constraints that have caused... 12th October 2018 · 1 min read
Australia & New Zealand Economics Weekly Falling equities, rising petrol, climbing borrowing costs The recent plunge in equity prices, surge in petrol prices and rise in borrowing costs all triggered by developments overseas won’t hurt the Australian economy much. But they do add to other headwinds... 12th October 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Inventories of crude oil surged for the second consecutive week as refinery output dropped and there was an increase in production. We expect stocks to continue to build in the coming weeks, which... 11th October 2018 · 1 min read
