Europe might just be getting a handle on its Russian natural gas problem “The European Union’s gas storage levels are at around 85% of capacity,” he said. “So it could well be that markets are pricing in that Europe might be better prepared than it once was.” 13th September 2022 · Marketplace
Commodities Weekly Energy supply concerns take a back seat… for now Energy markets took centre stage this week as demand concerns outweighed supply concerns, dragging prices down. Even the decision by OPEC+ on Monday to cut oil output quotas for October by 100,000 bpd... 9th September 2022 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude oil stocks rose last week for the first time in four weeks, as imports increased while exports and refinery usage fell. But stocks will probably continue to remain at still-low... 8th September 2022 · 2 mins read
Energy Update Europe should avoid widespread gas rationing We don’t think Europe will be forced to widely ration natural gas this winter because the sky-high price should attract sufficient LNG from abroad to replace reduced imports from Russia, whilst also... 8th September 2022 · 4 mins read
A Slowing China Helps Rein In Inflation Around the World China in 2021 consumed 72% of the world’s iron-ore imports, 55% of refined copper and more than 15% of oil globally. Any slowing of its resource-hungry economy tends to put downward pressure on... 4th September 2022 · Wall Street Journal
Commodities Update Demand outlook deteriorating The latest manufacturing PMIs out of China and emerging Asia point to a worsening demand outlook for commodities, but especially industrial metals. This adds weight to our view that industrial metals... 1st September 2022 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude oil stocks fell last week for the third week running, despite another release from strategic reserves. We think commercial stocks will remain under pressure over the coming weeks... 31st August 2022 · 4 mins read
Precious Metals Update Palladium price to rise through 2023-24 We forecast palladium demand to pick up slightly over the next two years, while supply growth is set to remain muted, keeping the market in a deficit throughout. Continued drawdowns of stocks over... 24th August 2022 · 3 mins read
Metals Data Response Global Steel Production (July) Global steel production fell at a faster pace in July. The latest data are broadly consistent with our view that supply will fall this year, which should put a floor under prices even with soft demand... 23rd August 2022 · 2 mins read
Metals Data Response Global Aluminium Production (July) Global aluminium production rose at a slightly slower pace in July, mostly because production in North America fell at a faster clip, while output in Europe continued to slump. Production growth could... 22nd August 2022 · 2 mins read
Commodities Weekly Natural gas price knows no bounds It was another week of soaring natural gas prices as LNG demand from Asia appears to have picked up and the energy crisis in Europe deepens by the day. Ultra-dry and hot weather across Europe is... 19th August 2022 · 6 mins read
Commodities Weekly Pressure from rising Treasury yields likely to resume This week the prices of most commodities got a boost as investors pared back expectations for rate hikes in the US, following lower than expected inflation data. That said, we still expect a further... 12th August 2022 · 6 mins read
Bank of England’s dire recession warning too ‘optimistic’ amid gas threat, economists say Edward Gardner, a commodities specialist at Capital Economics, said gas prices will remain “very high” in the short term. “There is clearly upside risk to prices because Europe is still dependent on... 6th August 2022 · The i
Energy Update We’re less upbeat about OPEC oil supply Concerns about the demand outlook have dragged the Brent crude oil price towards $90 per barrel this week. But, the supply-side concerns which pushed the price over $120 per barrel not too long ago... 5th August 2022 · 2 mins read
Commodities Weekly Oil prices fall, but supply risks remain In a week of relative financial market calm, there was a pause in the large, sentiment-driven swings that have characterised most commodity prices in recent weeks. Instead, prices seemed to take... 5th August 2022 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report Crude oil prices have been for a rollercoaster ride today, rising by $3 per barrel following the OPEC+ meeting, and then more than erasing those gains later on. Prices fell particularly sharply after... 3rd August 2022 · 2 mins read
