Commodities Weekly Prices rally, but room for further gains is limited The prices of most commodities across energy, metals and agriculturals rose this week. The common driver was investors dialling back their expectations of the aggressiveness of US monetary policy... 29th July 2022 · 6 mins read
Commodities Outlook Prices to find a floor While non-energy commodities prices may fall a little further, we think the big move down in those prices is now behind us. Admittedly, the demand outlook has undeniably deteriorated in recent months... 28th July 2022 · 40 mins read
Commodities Weekly Dollar strength likely to return and weigh on prices It was a more positive week for prices, in large part owing to some softness in the US dollar. Otherwise, the news was not particularly positive for prices given the ECB’s surprise decision to hike... 22nd July 2022 · 6 mins read
Metals Data Response Global Steel Production (June) Global steel production growth slowed in June as higher power costs in advanced economies contributed to lower output there. By contrast, the decline in China’s output slowed slightly. Overall, we... 22nd July 2022 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial stocks fell last week, largely on the back of a rise in exports and a drop in imports. The fall came despite another bumper release from the strategic reserve. As those government stock... 20th July 2022 · 2 mins read
Commodities Weekly Demand fears in the driving seat, for now Most commodity prices fell this week as global monetary tightening and fears about economic growth intensified. The high June inflation reading in the US nails on another large rate hike at the FOMC’s... 15th July 2022 · 6 mins read
OPEC Watch OPEC Monthly Oil Market Report (July) OPEC unveiled its oil market forecasts for 2023 in its monthly report today. OPEC is more bullish than us on demand, forecasting an increase of 2.7m barrels per day. But even though it is also quite... 12th July 2022 · 3 mins read
Commodities Weekly Strong US dollar to remain a headwind for prices There was no clear direction in commodity prices this week, even within the same types of commodities. The takeaway is that commodity prices were dancing to their own tunes. Take energy, for example... 8th July 2022 · 6 mins read
Commodities Chart Pack Softer demand, but supply to remain tight Non-energy commodities prices generally fell in June on the back of concerns about the outlook for demand amid global monetary tightening and slower economic growth. Energy prices may also fall a... 6th July 2022 · 13 mins read
Commodities Weekly Demand concerns to weigh on prices for a while yet Prices struggled to find direction this week as concerns about demand deepened at a time of still constrained supply of many commodities. The price of Brent crude fell sharply on Thursday in response... 1st July 2022 · 5 mins read
Energy Data Response US Weekly Petroleum Status Report Commercial crude stocks fell last week as refineries raised production of petroleum products. However, refineries will probably struggle to raise output much further, with many of them operating near... 29th June 2022 · 2 mins read
Emerging Europe Economics Update Making sense of a price cap on Russian energy The G7 proposal to impose a cap on the price of Russian oil and gas would introduce new supply-side risks by potentially disrupting Russian energy supplies. This could push global energy prices up... 28th June 2022 · 5 mins read
Commodities Weekly Non-energy prices only have so much more to fall Most commodity prices fell this week as demand concerns picked up due to ongoing monetary policy tightening by major central banks. Speaking to the US Senate Banking Committee on Wednesday, Federal... 24th June 2022 · 6 mins read
Energy OPEC+ to change tack from September Whilst OPEC+ has been failing to meet its production quotas in recent months, it will technically finish unwinding its pandemic-related supply cuts come September. We think OPEC+ will then move to a... 23rd June 2022 · 4 mins read
Commodities Weekly Supply concerns to dominate in gas markets European natural gas prices surged this week on renewed supply concerns, as Russia once again cut gas supplies to Europe and the US Freeport LNG export facility closed for six months. The huge price... 17th June 2022 · 6 mins read
Energy Update Europe’s gas supply looking increasingly fragile Russia’s decision to once again cut supplies to Europe makes the region’s gas supply look increasingly precarious. The move will slow regional stock builds and keep prices historically high. 16th June 2022 · 2 mins read
