Commodities Weekly Demand concerns back on the menu Commodity prices generally fell earlier this week on the back of investors’ growing concerns about the outlook for commodities demand. Later in the week, the release of softer-than-expected US Q1 GDP... 28th April 2023 · 6 mins read
Energy Update JODI Energy Demand Monitor (Jan & Feb.) JODI data show that oil demand held up in advanced economies at the beginning of the year. We suspect this won’t last though as weakening economic activity drags on demand over 2023. The data also... 26th April 2023 · 3 mins read
Commodities Weekly Prices to be steered by developed markets next week After a positive start to the week on the back of China’s strong Q1 GDP data, commodity prices subsequently eased back on expectations of higher interest rates and worries about demand in advanced... 21st April 2023 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report Sharply higher refining activity and a rise in exports drove commercial crude stocks lower this week. Meanwhile, US production was stable. We think it will only rise a little further by the end of the... 19th April 2023 · 4 mins read
Commodities Weekly Prices starting to look on borrowed time Commodity prices received a boost from expectations that the Fed is nearing the end of its tightening cycle and the weaker US dollar this week, but we think that it is only a matter of time before the... 14th April 2023 · 6 mins read
Commodities Update Sugar rush won’t last Global sugar prices have surged by over 20% since the start of the year as production estimates in several key producers have been downgraded. We think the supply picture is unlikely to change by much... 14th April 2023 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Apr.) Despite justifying its recent production cuts on an uncertain demand outlook, OPEC did not make any changes to its 2023 global GDP or oil demand forecasts in its monthly report for March. We think the... 13th April 2023 · 3 mins read
Commodities Weekly Oil will be scarcer than previously expected The surprise announcement last weekend by OPEC+ countries that they would make voluntary oil production cuts, even before the OPEC advisory committee met on Monday, pushed oil prices higher by about... 6th April 2023 · 6 mins read
Energy Update OPEC+ shakes up and tightens the oil market The surprise decision by OPEC+ to cut production has meant we have revised up our oil price forecasts for end-2023 and end-2024. This does not materially change our outlook for inflation in advanced... 5th April 2023 · 3 mins read
Commodities Weekly Not out of the woods yet Just as it seemed as though stability had been restored in financial markets, a renewed bout of selling of bank stocks took place in Europe this morning. And there are a number of smaller US banks... 24th March 2023 · 6 mins read
Energy Update Clean tech race to hit EU coal and gas demand The EU’s Net-Zero Industry Act announced last week aims to keep the manufacture of clean technologies within the EU and shows that global fracturing will take place within blocs as well as between... 24th March 2023 · 4 mins read
Energy Data Response US Weekly Petroleum Status Report Commercial crude stocks rose slightly this week, although product stocks fell as domestic demand and exports both picked up. But all eyes are on the Fed’s monetary policy meeting later today. 22nd March 2023 · 2 mins read
Commodities Weekly Prices battered, financial conditions to be in focus Commodity markets were not spared the effects of widespread turmoil in the global banking system. Most prices ended the week lower as investors fled risky assets. The gold and silver prices bucked... 17th March 2023 · 6 mins read
OPEC Watch OPEC Monthly Oil Market Report (Mar.) OPEC’s monthly report for March noted that the group has stuck to the production targets agreed in October last year. Accordingly, we have revised down our forecasts for the group’s output in 2023. 14th March 2023 · 2 mins read
Commodities Weekly US and China data to steer prices next week Even though US non-farm payrolls increased by 311,000 in February, the report contained signals that were consistent with slowing inflation, prompting a fall in US interest rate expectations today... 10th March 2023 · 6 mins read
Commodities Weekly Commodity markets look to the US and China It was another fairly quiet week in commodity markets, with prices caught between diverging narratives. Rather perversely, robust economic data in advanced economies weighed on commodity prices. This... 3rd March 2023 · 6 mins read
