Commodities Chart Pack Commodities not in party mode Commodity prices struggled to find direction in November despite the release of somewhat stronger economic data. Meanwhile, developments on the US-China trade front remained a key driver of sentiment... 3rd December 2019 · 7 mins read
Commodities Weekly OPEC+ to roll over, but not deepen, output cuts Commodities prices were little changed this week. Prices were initially boosted by President Trump’s comments that the US and China were in the “final throes” of a trade deal. But they pared their... 29th November 2019 · 7 mins read
Commodities Weekly Commodities still on the sidelines The prices of most industrial commodities traded in a narrow range this week in part owing to stronger-than-expected PMI data from the US and elsewhere. However, the bigger picture is that global... 22nd November 2019 · 7 mins read
Commodities Update The rally in US lumber prices is not over yet The price of lumber has surged in recent months. We think that prices will continue to rise in 2020 primarily on the back of ongoing strength in US housing starts and falling lumber supply from Canada... 20th November 2019 · 3 mins read
Commodities Weekly It’s still all about trade The prices of industrial commodities tumbled this week amid uncertainty about whether a “Phase One” trade deal between the US and China will be signed and further signs of weakness in China’s... 15th November 2019 · 7 mins read
Commodities Update The palm oil price rally has further to run Palm oil prices have soared recently in part because of unfavourable weather, which has clouded the outlook for supply. At the same time, we think that demand from the world’s top consumers is set to... 13th November 2019 · 3 mins read
Energy Update The palm oil price rally has further to run Palm oil prices have soared recently in part because of unfavourable weather, which has clouded the outlook for supply. At the same time, we think that demand from the world’s top consumers is set to... 13th November 2019 · 3 mins read
Commodities Weekly Investors still not convinced … Commodity price moves were surprisingly muted this week considering the news that the “Phase One” trade deal between the US and China may involve the lifting of some of the tariffs already in place... 8th November 2019 · 7 mins read
Energy Update Aramco IPO won’t have a big impact on the oil market We think that the forthcoming Saudi Aramco IPO is unlikely to have much of an impact on Saudi Arabia’s oil policy or on global oil prices either now, or in the future. Instead, Saudi output in the... 7th November 2019 · 2 mins read
Energy Chart Pack Oil prices to tread water, for now Despite signs that the global economy continued to slow in October, only coal prices fell. While we expect global growth to remain subdued in the year ahead, we think that a recession will be avoided... 5th November 2019 · 5 mins read
Commodities Weekly Trade talks remain the key to investor sentiment There were few big moves in commodity prices this week despite some encouraging data out of China and the US, and a 25bp cut in the Fed Funds rate. Admittedly, the economic data were not uniformly... 1st November 2019 · 7 mins read
Commodities Chart Pack October’s optimism set to fade The apparent thaw in the US-China trade dispute gave a lift to the prices of most industrial commodities in October. However, we are sceptical that a lasting resolution to the trade conflict will be... 31st October 2019 · 7 mins read
Energy Focus Measuring the risk premium in the oil price The September attacks on oil facilities in Saudi Arabia re-ignited discussion of the “risk premium” in the oil price. Since the risk premium is not directly observable, we have created a methodology... 31st October 2019 · 13 mins read
Commodities Weekly All eyes on the Fed This week has been relatively quiet in commodity markets, but there could be some bigger moves in prices in the next seven days given that the Fed meets on Thursday and a raft of economic data is... 25th October 2019 · 7 mins read
Energy Outlook Light at the end of the tunnel Oil prices are likely to remain subdued in the near term as the global economy continues to slow and risk aversion prevails. And while natural gas and coal prices could rise in the coming months as... 23rd October 2019 · 17 mins read
Commodities Weekly Demand fears taking the reins once again Despite the much-vaunted “mini-deal” on US-China trade, most industrial commodity prices fell this week. Uninspiring activity data across major commodity consumers, notably for the US and China... 18th October 2019 · 7 mins read
