Commodities Chart Pack Supply concerns to dominate for some time yet Energy and agricultural prices continued to rise in May as concerns about supply more than offset signs that demand, at least for energy, could soften. We expect prices to remain historically high but... 7th June 2022 · 13 mins read
Commodities Weekly Waiting for clarity on the EU’s oil import embargo A persistent theme in energy markets is uncertainty about the outlook for the EU’s imports of energy from Russia. It does appear that some sort of embargo of oil imports will be announced, maybe as... 27th May 2022 · 6 mins read
Commodities Weekly Easing of lockdown lifts metals prices, for now… The prices of many industrial metals (IM) picked up this week on news of an easing of COVID-19 restrictions in China. However, we think weak demand and improved supply in China will send IM prices... 20th May 2022 · 6 mins read
Commodities Weekly Energy prices no longer appear to be “lifting all boats” Most commodity prices fell this week amid a general sell-off in risky assets and a stronger US dollar. That said, we think the days of higher energy prices leading to an all-encompassing rally in... 13th May 2022 · 6 mins read
Commodities Weekly Demand and supply pull prices in opposing directions Energy prices continue to be pummelled by upward pressure related to fears of supply shortages and downward pressure from signs of slower economic growth, tighter monetary policy and a stronger US... 6th May 2022 · 6 mins read
Commodities Prices to stay high for longer The war in Ukraine and its negative impact on commodities supply has prompted us to revise up our forecasts for the prices of most commodities in 2022. Regardless of the outcome of the war, we think... 29th April 2022 · 40 mins read
Commodities Weekly Russia’s rubles demand poses upside risk to gas prices Russia’s monopoly exporter of natural gas, Gazprom, suspended gas deliveries to Poland and Bulgaria this week because they refused to pay for Russian gas in rubles. There is some confusion about... 29th April 2022 · 6 mins read
Commodities Weekly European growth to drag on prices It has been an unusually quiet week for commodities, with less volatility than we have come to expect. The war in Ukraine continues to provide possible stresses for supply but, for now at least, it... 22nd April 2022 · 6 mins read
Commodities Weekly China only off-the-radar for now The war in Ukraine continued to dominate headlines, and commodity price movements, this week as peace talks fell apart and sent energy prices up sharply. However, at the same time, there are further... 14th April 2022 · 7 mins read
Commodities Weekly Prices to remain buffeted by headwinds and tailwinds Last week, we suggested that the downside risks to prices were building, and these came to the fore in the past week with particularly hawkish US Fed minutes published on Wednesday and ongoing COVID... 8th April 2022 · 6 mins read
Commodities Chart Pack War in Ukraine to continue to dictate prices for now Commodity prices remain extremely volatile owing to the uncertainty stemming from the ongoing war in Ukraine, and we doubt that they will find a clear direction anytime soon. However, assuming the war... 5th April 2022 · 12 mins read
Commodities Weekly Downside risks to prices are building Signs of weaker demand in China in the latest PMI data and the announcement that the US will sell off a large chunk of its strategic oil reserve suggest that the downside risks to commodity prices are... 1st April 2022 · 6 mins read
Commodities Weekly Countless risks hanging over commodity markets Taking the lead from energy, most commodity prices rose this week as hopes of an imminent ceasefire in Ukraine faded and Western leaders met to consider further sanctions on Russia. Meanwhile, Putin’s... 25th March 2022 · 6 mins read
Commodities Weekly Volatility to linger in commodity markets Commodity prices remained extremely volatile this week. After all the supply fears associated with the war on Ukraine, a rising number of COVID-19 cases in China raised concern about both demand and... 18th March 2022 · 6 mins read
Commodities Weekly Still a bumpy road ahead for commodity prices The seemingly unstoppable rise in commodity prices gave way to sharp corrections this week, though the big picture is that prices remain extremely elevated. We suspect commodity prices will continue... 11th March 2022 · 6 mins read
Commodities Weekly Prices could rise further Although many commodity prices are already back to levels last seen in 2008, there is still scope for prices to rise further if Western sanctions are extended to cover energy commodities. (At the end... 4th March 2022 · 6 mins read
