Commodities Weekly Delta to continue to weigh on prices Commodity prices mostly fell this week on the back of a stronger US dollar as well as mounting concerns over the demand outlook. China’s July activity and spending data, published on Monday, were... 20th August 2021 · 5 mins read
Commodities Weekly Alarming UN report could spark more green spending The UN’s latest Intergovernmental Panel on Climate Change (IPCC) report warned that ever-increasing greenhouse gas emissions are a ‘code red for humanity’, which could give further momentum to the... 13th August 2021 · 6 mins read
Commodities Weekly Delta variant taking centre stage Concerns surrounding the spread of the Delta variant of COVID-19 were the main driver of prices this week, but the impact on prices was far from uniform. Not surprisingly, oil prices slumped as many... 6th August 2021 · 6 mins read
Metals Outlook At the start of a downswing in prices Although the prices of industrial metals have picked up again recently, we still expect them to be falling over the next year or so. Underpinning this view are our forecasts for economic growth to... 4th August 2021 · 19 mins read
Commodities Supply disruptions remain a key risk The recent bounce in commodity prices continued this week, helped by the ongoing depreciation in the US dollar and a series of risks on the supply side which are rearing their head. Most notably, a... 30th July 2021 · 6 mins read
Commodities Outlook Price rallies to give way soon to broad-based declines We think that the widespread rallies in commodity prices from their pandemic-induced lows are now close to, or in some cases already past, their peak. Most notably, we anticipate that Q3 will be as... 29th July 2021 · 2 mins read
Global Economic Outlook Pandemic rebound peaks but recovery story still intact The initial post-pandemic resurgence is nearing its zenith, but strong policy support and limited private sector debt should allow most economies to grow at a healthy pace over the next two years. The... 28th July 2021 · 45 mins read
Commodities Delta risks coming to the fore Oil prices have been on something of a round trip this week – falling at the start of the week as OPEC+ finally agreed to a new output agreement and the ongoing spread of the Delta variant fuelled... 23rd July 2021 · 6 mins read
Commodities Weekly Saudi-UAE compromise points to lower oil prices Reports that the UAE and Saudi Arabia have reached a compromise deal over oil production quotas support our forecast that oil prices will end the year lower. Admittedly, the deal is yet to be agreed... 16th July 2021 · 6 mins read
Commodities Weekly Oil to outperform in Q3 We expect strong growth in oil demand this quarter as virus-related travel restrictions are lifted in most of the largest consuming countries. At the same time, supply will remain relatively... 2nd July 2021 · 6 mins read
Precious Metals Update We still think gold will lose its shine After rallying from April onwards, the price of gold has dropped back in recent weeks. We expect the price of gold to fall further over the next couple of years as long-dated US real yields climb. 30th June 2021 · 2 mins read
Commodities Weekly Rebound in prices likely to be short-lived Most commodity prices recouped some of their post-FOMC losses this week. Investor concerns surrounding Fed tightening have seemingly eased, which weighed on the dollar. At the same time, news that a... 25th June 2021 · 6 mins read
Metals Chart Pack Strong month for metals not a sign of things to come May was a strong month for the prices of most metals, but we suspect that this may be as good as it gets. After all, if we’re right in expecting economic growth in China to slow in the second half of... 3rd June 2021 · 7 mins read
Commodities Chart Pack Most commodity prices to fall back before long Prices generally rose in May, bolstered by signs of recovery in the global economy – led by the US – and stronger commodities demand. While prices could make further gains in the near term, we expect... 2nd June 2021 · 7 mins read
Commodities Weekly OPEC+ to stand pat, for now OPEC+ is set to meet next Tuesday, when we expect the group to agree to continue with its incremental increases in production through to July. We think it unlikely that the group will address the... 28th May 2021 · 6 mins read
Commodities Weekly Signs that price rallies are beginning to falter The prices of most commodities dropped back again this week as global equity markets struggled to make ground and virus cases in parts of Asia continued to rise. Meanwhile, reports emerged that good... 21st May 2021 · 5 mins read
