Energy Outlook A recovery in demand to support prices The rebound in global economic activity this year will lead to a strong pick-up in demand for energy commodities. Arguably, this has already happened in the gas and coal markets as industrial activity... 4th May 2021 · 19 mins read
Commodities Weekly The demand outlook remains uncertain It was another good week for commodity prices, with the exception of precious metals. Somewhat better-than-expected Q1 GDP and survey data, particularly in the euro-zone, was one factor fuelling... 30th April 2021 · 6 mins read
Precious Metals Update Strong physical demand won’t stop gold prices falling Recent data have highlighted the strength of the rebound in physical demand for gold, especially in India and China. But we don’t think this poses much of a risk to our forecast for the gold price to... 30th April 2021 · 4 mins read
Metals Outlook Industrial metals prices to fall from current highs Although we anticipate a strong global economic recovery in 2021, our forecast of a slowdown in China’s economy means that we still expect industrial metals prices to end the year lower. At the same... 28th April 2021 · 19 mins read
Energy Data Response US Weekly Petroleum Status Report US crude commercial stocks stabilised last week, but we think they will resume their decline before long as product demand benefits from the easing of virus-related restrictions. 28th April 2021 · 2 mins read
Commodities Outlook Investor-led rally running out of road Following a spectacular rebound from pandemic-induced lows, we continue to expect that most commodity prices will be falling again by end-2021. Although growth in demand should be strong as the global... 27th April 2021 · 2 mins read
Commodities Weekly Rising risks to supply of agriculturals Most commodity prices increased this week, with the prices of agricultural commodities rising particularly strongly. The prices of corn, soybeans and wheat surged, reaching new multi-year highs on the... 23rd April 2021 · 6 mins read
Commodities Weekly Slew of positive data gives fresh fuel to price rally Most commodity prices rose this week following a batch of positive economic data releases. Oil prices were up particularly strongly on the back of a larger-than-expected weekly decline in US crude... 16th April 2021 · 6 mins read
Energy Chart Pack Oil prices to climb higher, despite recent setbacks Strong growth in industrial demand helped push up the prices of energy commodities used primarily in power generation last month, but oil prices slipped back. We continue to expect average energy... 12th April 2021 · 7 mins read
Metals Chart Pack The outlook for metals darkens Aside from the temporary blockade of the Suez Canal, March was a relatively uneventful month for industrial metals prices. Nevertheless, we still expect prices to fall this year as mine supply... 9th April 2021 · 6 mins read
Commodities Weekly Mixed economic outlook poses a quandary for prices It was a relatively quiet week in commodities markets, with weakness in the US dollar giving agricultural commodities, in particular, a bit of a lift. We think markets could struggle to find a clear... 9th April 2021 · 6 mins read
Energy Update Weaker European demand won’t derail our oil forecast While we have revised down our oil price forecast for Q2 and Q3 this year in response to the OPEC+ decision to ease production cuts, we still think a rebound in global demand will help push oil prices... 8th April 2021 · 3 mins read
Commodities Chart Pack Commodity prices to take a breather in the near term A rise in new coronavirus infections in many parts of the world, including Europe and India, weighed on investor sentiment in commodity markets in March. However, all the signs point to a rapid... 7th April 2021 · 7 mins read
Commodities Weekly Oil market to remain in a deficit The decision earlier today by OPEC+ to ease its oil production cuts from May means that production from the group will be slightly higher than we had previously anticipated in Q2. However, the rise in... 1st April 2021 · 5 mins read
Commodities Weekly Impact of Suez blockage likely to be short-lived Commodities markets were something of a mixed bag this week. The grounding of a container ship in the Suez Canal helped to prop up the prices of some commodities despite growing worries over the... 26th March 2021 · 6 mins read
Metals Watch The outlook is brighter for palladium than platinum In this Metals Watch, we examine the outlook for supply and demand of platinum and palladium to determine the direction of their prices over the next couple of years. 24th March 2021 · 5 mins read
