Energy Update Assessing the risks ESG factors pose to fossil fuels ESG rules won’t significantly deter investment in International Oil Companies (IOCs) or reduce fossil fuels production. Instead, output is likely to be guided by underlying oil prices, which we expect... 19th December 2019 · 3 mins read
Commodities Weekly Commodities dodge a bullet Most industrial commodity prices rose this week, as the US and China announced that they had reached a phase-one trade deal. The agreement cancels the tariffs scheduled to come into effect this Sunday... 13th December 2019 · 7 mins read
OPEC Watch OPEC Monthly Oil Market Report (Dec.) OPEC kept output slightly below its quota in November. We expect that OPEC will produce within its new quota until it expires in March 2020, but that Saudi Arabia will do most of the heavy lifting. 11th December 2019 · 3 mins read
Energy Chart Pack Rising supply to weigh on natural gas prices Warmer-than-expected weather, amid subdued global economic growth, put downward pressure on the prices of coal and LNG since the start of November. In contrast, the price of oil rose on the back of... 9th December 2019 · 5 mins read
Commodities Weekly OPEC still has work to do The announcement that OPEC+ will deepen output cuts by 0.5m bpd in the first quarter of 2020 boosted oil prices this week. While the decision means that the market will be a bit tighter next year than... 6th December 2019 · 8 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks fell last week on the back of increased refinery throughput. However, with stocks well above their historical average, and with the US economy set to slow, this latest report doesn’t... 4th December 2019 · 2 mins read
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
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks rose last week, largely on the back of an outflow from the government’s strategic reserve. Over the coming months, we expect slowing economic growth and faltering crude... 27th November 2019 · 2 mins read
Energy Update Iranian oil output at low risk of long-term decline Since the imposition of US sanctions in May 2018, Iranian oil production has fallen by nearly 45%. For our part, we think that output would recover quickly if sanctions were lifted. Moreover, we see... 27th November 2019 · 3 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 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 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 Henry Hub to make modest gains next year Despite steadily rising supply, strong demand growth and expanding export opportunities should ensure that the average price of US natural gas (Henry Hub) will be higher in 2020 than 2019. 8th November 2019 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks rose on the back of higher net imports and a fall in inputs to refineries. We expect a slowdown in the US economy to lead to further builds in inventories in the coming... 6th 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
