Energy Outlook The big moves are behind us We continue to expect that sluggish growth in global oil consumption will be a factor weighing on oil prices in 2019. Nonetheless, OPEC+ output cuts and the sanctions-related drop in exports from... 26th July 2019 · 18 mins read
Commodities Update Stronger biodiesel demand to bump up palm oil prices We think that the price of palm oil (PO) will rise a touch this year and pick up strongly in 2020 primarily on the back of stronger demand growth, which will shift the market into a deficit. 25th July 2019 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report A fall in production in the Gulf of Mexico due to Hurricane Barry largely explains last week’s huge decline in US commercial crude stocks. However, although these output outages will only be temporary... 24th July 2019 · 2 mins read
Commodities Outlook Not out of the woods yet Subdued economic growth will weigh on the prices of most industrial and energy commodities for the remainder of 2019. What’s more, our view that there will be a further escalation in the US-China... 19th July 2019 · 25 mins read
Commodities Weekly Precious metals prices starting to look vulnerable We now expect the Fed to start cutting interest rates at the end of this month. However, we only expect a quarter-point reduction in July and only one further cut this year. While lower US interest... 19th July 2019 · 7 mins read
Commodities Weekly Boost from Powell put to fade fast Fed Chair Jerome Powell’s confirmation earlier this week that an interest rate cut is likely in July gave most commodity prices a lift. And oil prices rose to their highest level since May following a... 12th July 2019 · 8 mins read
Energy Update OPEC+ will not succeed in lowering crude stocks We think that the OPEC+ production cuts will fail to reduce global crude stocks. Instead, we expect soft demand growth and rising global supply, particularly from the US, to push stocks higher in the... 12th July 2019 · 4 mins read
Energy Focus A US-Iran conflict would push oil prices above $150 Mounting geopolitical tensions between the US and Iran have prompted fears of a full-blown military war in the Gulf region. The most important impact would clearly be the loss of life. From the... 11th July 2019 · 10 mins read
Commodities Weekly Commodities down in the dumps Despite a swathe of news that should have been positive, commodity prices struggled to make gains this week as concerns about global growth continue to weigh on sentiment. Even the strong US... 5th July 2019 · 7 mins read
Energy Chart Pack Weak demand to keep a lid on oil prices Oil prices rose a little in June on a combination of escalating US-Iran tensions, signs of a truce in the US-China trade war and the expectation that OPEC+ would extend its production cuts. However... 4th July 2019 · 6 mins read
Commodities Chart Pack ‘Glass half empty’ sentiment to prevail While June was a relatively positive month for commodity prices, we think that a combination of slower global growth and waning risk appetite will lead to lower prices for energy and industrial metals... 3rd July 2019 · 7 mins read
Energy Data Response US Weekly Petroleum Status Report A surge in net imports meant that commercial crude oil stocks fell by less-than-expected last week. We expect stocks to continue to drop in the weeks ahead in line with the seasonal uptick in gasoline... 3rd July 2019 · 2 mins read
OPEC Watch OPEC+ output restraint won’t prevent prices falling OPEC+ has agreed to rollover its current output quotas for nine months, but weak demand means that we still expect the market to move into a surplus and oil prices to fall by end-2019. 2nd July 2019 · 3 mins read
Commodities Weekly Outcome of G20 and OPEC meetings to drive prices Commodity markets have been relatively quiet ahead of the G20 meeting (this weekend) and OPEC meetings (Monday and Tuesday). Investors are optimistic that a truce on trade will be agreed when... 28th June 2019 · 6 mins read
