Energy Outlook Prices to rebound in line with the economic recovery Energy demand and prices have continued to recover from their virus-induced lows, but they remain depressed. However, we expect the revival in energy demand to pick up pace in 2021 as developed... 28th October 2020 · 18 mins read
Energy Data Response US Weekly Petroleum Status Report The weekly surge in US commercial stocks largely reflects a return to more normal levels of crude production, after Hurricane Delta forced rigs to close. However, the product data point to stagnating... 28th October 2020 · 2 mins read
Metals Outlook China-led rally is running out of road Industrial metals prices have been among the biggest beneficiaries of the stimulus-fuelled recovery in China’s economy. But given how far prices have risen already, and that we think demand outside of... 26th October 2020 · 19 mins read
Commodities Weekly All eyes on China’s Five-Year Plan Data showing that the Chinese economy continued to rebound last quarter and that growth was accelerating heading into Q4 gave a lift to most industrial metals prices this week. Given China’s share of... 23rd October 2020 · 7 mins read
Metals Data Response Global Steel Production (Sep.) Growth in global steel production accelerated in September. However, all the growth was in China’s output. It looks increasingly likely that a revival in production elsewhere will have to wait until... 23rd October 2020 · 2 mins read
Commodities Outlook Recovery to continue, but a bull run is unlikely Commodity prices will continue to benefit from the stimulus-fuelled recovery in China’s economy over the next year. At the same time, a gradual revival in growth in advanced economies should give a... 22nd October 2020 · 23 mins read
Metals Data Response Global Aluminium Production (Sep.) Growth in global aluminium production accelerated in September, led by robust output gains in China and Canada. Capacity additions in China should mean that global output continues to rise in the... 20th October 2020 · 2 mins read
Commodities Weekly A pause for breath After a rollercoaster few weeks, it was a more muted affair for commodity markets this week. Indeed, there was little in the way of big price moves, which we think reflects a couple of factors. First... 16th October 2020 · 7 mins read
Commodities Weekly Oil price recovery to stay in a low gear The prices of most commodities rose this week, supported by a pick-up in risk appetite towards risky assets, such as US equities. Oil prices were the top performer, increasing by around 10% in part... 9th October 2020 · 7 mins read
Commodities Focus COVID-19 to hasten peak oil demand In this Focus, we argue that the medium-term impact of the COVID-19 pandemic on both global economic growth and consumer behaviour has brought forward “peak oil demand” to around 2030. As a result, we... 8th October 2020 · 19 mins read
Long Run Focus COVID-19 to hasten peak oil demand In this Focus, we argue that the medium-term impact of the COVID-19 pandemic on both global economic growth and consumer behaviour has brought forward “peak oil demand” to around 2030. As a result, we... 8th October 2020 · 19 mins read
Energy Focus COVID-19 to hasten peak oil demand In this Focus, we argue that the medium-term impact of the COVID-19 pandemic on both global economic growth and consumer behaviour has brought forward “peak oil demand” to around 2030. As a result, we... 8th October 2020 · 19 mins read
Metals Chart Pack Staying cautiously positive on metals Industrial metals prices fell in September on the back of the appreciation in the US dollar and fears that the re-tightening of virus containment measures in Europe and elsewhere will dampen demand... 5th October 2020 · 7 mins read
Commodities Weekly Worries about demand continue to grow The prices of most major industrial commodities, including oil, fell this week seemingly owing to lingering fears about commodity demand. Concerns are growing about the financial health of some major... 2nd October 2020 · 7 mins read
Commodities Chart Pack Commodity prices to grind higher An uptick in COVID-19 cases in India and in developed economies knocked back many commodity prices in September, with few left in positive territory for the month. And although September’s price... 1st October 2020 · 8 mins read
Commodities Update Commodity prices can take heart from China’s PMIs China’s September PMI readings suggest that the economy is now entering a period of above-trend growth, which is indisputably good news for the prices of commodities, particularly industrial metals. 30th September 2020 · 2 mins read
