Energy Update Key energy forecasts for 2021 We expect the prices of most energy commodity to rise in 2021, as demand revives in line with the global economic recovery. But coal prices are likely to fall back, as demand growth in major consuming... 11th January 2021 · 3 mins read
Commodities Weekly Saudi Arabia springs a surprise After a strong finish to 2020, most commodity prices built on their gains in the first week of January, as investor sentiment continued to prove supportive and Saudi Arabia announced that it would... 8th January 2021 · 7 mins read
Energy Chart Pack Energy continues to play catch-up Energy commodity prices for the most part ended 2020 on a high, buoyed by strong seasonal demand, an increase in investor risk appetite and a weaker US dollar. And while energy commodities were the... 7th January 2021 · 6 mins read
Commodities Chart Pack Commodity prices starting 2021 on a high Commodity prices rose in December in spite of a tightening of COVID-19 restrictions in a number of developed economies, which will weigh on commodities demand at the start of this year. Markets seem... 5th January 2021 · 8 mins read
Energy Data Response US Weekly Petroleum Status Report Crude stocks sank a little last week as exports rose. Meanwhile (and more encouragingly), implied gasoline and distillate demand were up in the face of rising COVID-19 restrictions, which suggests... 23rd December 2020 · 2 mins read
Commodities Update Australian coal exports to hold up, despite tensions One of the latest casualties of heightened China-Australia geopolitical tensions is Australian coal exports. But we think that this will have limited implications for demand and prices as, for the... 22nd December 2020 · 4 mins read
Energy Update Australian coal exports to hold up, despite tensions One of the latest casualties of heightened China-Australia geopolitical tensions is Australian coal exports. But we think that this will have limited implications for demand and prices as, for the... 22nd December 2020 · 4 mins read
Commodities Weekly Reversal of fortune for oil in 2021 We think that the price of oil will outperform most other commodity prices next year. A lifting of virus restrictions, as vaccines are rolled out, should allow for a strong bounce-back in oil demand... 18th December 2020 · 7 mins read
OPEC Watch OPEC Monthly Oil Market Report (Dec.) OPEC cut its 2021 oil demand forecast in its latest report, which we suspect could delay further easing of its production cuts early next year. This should help put a floor under prices. 14th December 2020 · 3 mins read
Commodities Weekly Oil prices begin to claw back lost ground Despite the re-introduction of lockdown measures in some US states, industrial commodities prices continued to rise this week on the back of ongoing hopes of a vaccine-induced economic boom next year... 11th December 2020 · 7 mins read
Energy Update Reviewing the risks to our 2021 oil price forecast We forecast that a substantial pick-up in oil demand in the second half of next year amidst a backdrop of constrained supply will push Brent oil prices to around $60 per barrel by end-2021. That said... 10th December 2020 · 3 mins read
OPEC Watch Q1 OPEC+ output to be less than headlines suggest We think that OPEC+ production will rise by less than the new agreement allows. Some countries will make compensatory cuts, while weak Q1 demand could prevent monthly rises in February and March. 7th December 2020 · 2 mins read
Commodities Weekly OPEC+ provides more questions than answers After much wrangling, this week OPEC+ agreed to a partial roll over of its current collective output cut into next year. But the obvious divisions between members of the group mean the question marks... 4th December 2020 · 7 mins read
Metals Chart Pack Metals on a tear, for now Industrial metals prices rallied in November. While we expect demand growth to stay strong in the months ahead, on the back of robust economic activity in China, we think that it will slow in 2021 as... 4th December 2020 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report Crude stocks dipped last week as net imports sank. Meanwhile, with COVID-19-related restrictions now present in a number of large states, we suspect that demand will remain low for a few months yet. 2nd December 2020 · 2 mins read
Commodities Chart Pack Vaccines mean higher commodity demand in 2021 A flurry of positive news surrounding effective COVID-19 vaccines gave a lift to most commodity prices in November, as a faster easing of virus containment measures next year should provide a lift to... 1st December 2020 · 7 mins read
