Industrial Metals Update Checking back in with our demand proxies Our in-house demand proxies offer further evidence that industrial metals prices are running ahead of the underlying fundamentals. This helps to explain the sharp drop in industrial metals prices... 4th March 2021 · 2 mins read
Energy Chart Pack Oil catch-up still has some way to go Oil prices have managed to claw back their lockdown-induced losses from last year, and we think that they will rise in the coming months as demand continues to revive. Meanwhile, natural gas and coal... 3rd March 2021 · 6 mins read
Commodities Chart Pack Investor optimism may prove short-lived Most commodity prices rose in February encouraged by falling COVID-19 infections and the vaccine rollout, which point to a recovery in economic activity and higher commodities demand later in the year... 1st March 2021 · 7 mins read
Commodities Weekly Bond market turmoil a wake-up call for commodities A spike in government bond yields and subsequent sell-off in equity markets caused the broad-based rally in commodity prices to go into reverse late in the week. That said, most industrial commodity... 26th February 2021 · 8 mins read
Energy Watch A closer look at the Indian oil sector In this Energy Watch, we examine the outlook for India’s oil sector. We begin by outlining its importance in the context of our macroeconomic research, before considering how the demand and supply... 23rd February 2021 · 6 mins read
Commodities Weekly Biden’s State of the Union might boost metals prices Abnormally cold temperatures in the US, particularly Texas, have forced a significant share of US oil wells and refineries offline this week. Oil prices initially surged on the back of this disruption... 19th February 2021 · 7 mins read
Industrial Metals Update China’s metal imports: three trends to keep an eye on With the first batch of Chinese trade data for 2021 not due for another few weeks, this Update outlines the key developments to look out for. Overall, we expect imports of refined metal to fall back... 17th February 2021 · 4 mins read
Commodities Weekly Revising up our end-year oil price forecast The price of Brent crude oil breached the $60 per barrel mark this week for the first time in over a year, in a continuation of its strong performance since COVID-19 vaccines were announced in... 12th February 2021 · 7 mins read
Commodities Weekly Silver briefly in the spotlight … In an otherwise fairly quiet week, some wild gyrations in the silver market were the focus of investor attention. Starting late last week, the price of silver surged by 20% to reach a multi-year high... 5th February 2021 · 7 mins read
Energy Watch What if travel restrictions are not eased later this year? In this Energy Watch, we discuss a key risk to our forecast of a further rise in oil prices by year-end, namely the possibility that insufficient progress on vaccine rollouts and/or concerns over new... 4th February 2021 · 5 mins read
Energy Update End of stockpiling bonanza to hold back oil prices An often-overlooked factor supporting oil prices last year was the surge in stockpiling by China and India. But given the rebound in prices since then, and how much inventories have now risen, we... 2nd February 2021 · 3 mins read
Commodities Weekly Quiet week offers a chance to reflect on our forecasts It was another largely uneventful week in commodity markets. For all the talk of an impending ‘super cycle’, the prices of most commodities have generally continued to struggle to extend the large... 29th January 2021 · 8 mins read
Energy Update Weighing up the prospects for US oil production Higher prices and a backlog of uncompleted wells should ensure that US crude oil production edges up slowly over the next couple of years. But with many of the challenges facing the sector still... 27th January 2021 · 2 mins read
Energy Outlook Rebound in prices to continue, except for coal The revival in oil demand and prices should continue to gather pace in 2021 as the lifting of quarantine measures enables the release of ‘pent-up’ demand associated with leisure activity. Meanwhile, a... 25th January 2021 · 19 mins read
Energy Data Response US Weekly Petroleum Status Report Following five consecutive weeks of declines, commercial crude stocks in the US rose last week. Together with still-high rates of new COVID-19 infections, this points to a gloomy near-term outlook for... 22nd January 2021 · 2 mins read
Commodities Weekly Investor buying will support prices, for now Despite some parts of China re-introducing lockdown measures and reported virus cases around the world continuing to spiral upwards, the prices of most commodities held up well this week as investor... 22nd January 2021 · 7 mins read
