Commodities Chart Pack Demand concerns a lingering headwind for prices Most commodity prices have moved lower over the past month as concerns about demand have intensified and risk appetite has soured. We think prices will continue to struggle over the next few months as... 16th May 2023 · 13 mins read
Commodities Weekly Weak demand will weigh on prices for some time The demand backdrop for commodities appears weak. While oil prices rose this week, they remain low by recent standards at $70-75 per barrel. Industrial metal prices, which rallied late last year and... 12th May 2023 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report Today’s stocks report showed a rise in commercial crude inventories last week, confounding analyst expectations of a drawdown. However, total stocks fell, which helps to explain why oil prices have... 10th May 2023 · 2 mins read
Event Drop-In: Climate goals and the energy market’s radical redesign 17th May 2023, 3:00PM BST Although global energy consumption has increased 300% since 1965, the energy mix has barely budged, with the share of fossil fuels falling to just 82% from 93%. However, as economies of scale kick in…
Commodities Weekly Commodities are likely to struggle for a while Most commodity prices, but especially energy and industrial metals, fell this week. Concern about demand in advanced economies, particularly in the US due to the banking sector problems, contributed... 5th May 2023 · 6 mins read
Precious Metals Update Safe-haven demand to support gold, for now Concern about banks and the US debt ceiling will keep the gold price historically high in the next few months. However, once these worries fade, we think that longer-term headwinds will come into play... 5th May 2023 · 2 mins read
Commodities Update Commodity prices to struggle in the next few months The key message from the latest China PMIs is that whilst China’s economy is likely to grow strongly this quarter, momentum is fading. This will be one factor weighing on commodity prices in the near... 4th May 2023 · 2 mins read
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 Focus Introducing our long-term energy market forecasts The global energy market is in the early days of a radical redesign due to the need to cut greenhouse gas emissions. In this Focus, we introduce our long-term energy market forecasts, which are... 27th April 2023 · 14 mins read
Green Transition Chart Pack Renewable costs: what goes up must go down? In this new quarterly publication, the Capital Economics’ Climate and Commodities teams will track and analyse developments in the transition to a greener global economy. The sharp increases in the... 26th April 2023 · 10 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
Metals Data Response Global Aluminium Production (Mar.) Global production growth y/y slowed in March and came close to stalling. In fact, excluding China, global production growth was 0%. These latest data are consistent with our view that output growth... 20th April 2023 · 2 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 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 Data Response US Weekly Petroleum Status Report The rebound in crude oil prices is already feeding into wholesale gasoline prices, but we don’t think the increase will be enough to derail demand, which is running at a healthy clip. Elsewhere, there... 5th April 2023 · 4 mins read
Commodities Update Futures Market Monitor (Apr. 2023) The surprise OPEC+ decision to cut oil production sent oil futures curves into steeper backwardation. This doesn’t necessarily mean that market participants see prices falling from here, but rather... 5th April 2023 · 4 mins read
