Energy Update Little respite for LNG prices likely before 2021 The raft of liquefied natural gas (LNG) projects in the works suggests that the downward pressure on prices from surging global supply will continue this year and next. But with demand growth set to... 13th August 2019 · 3 mins read
Commodities Weekly Some signs of the dust settling The fall-out from Mr Trump’s threat to levy a 10% tariff on $300bn worth of Chinese imports continued to roil commodity markets this week. The prices of crude oil and most industrial commodities fell... 9th August 2019 · 7 mins read
Commodities Weekly What a difference a day makes … Yesterday’s announcement by President Trump that a 10% tariff is to be levied on $300bn worth of Chinese goods came as a shock after reports of “constructive” trade talks between the US and China... 2nd August 2019 · 7 mins read
Energy Chart Pack More to the weakness in energy prices than trade While President Trump’s latest tariff threat has added yet more fuel to the oil market’s fears about slowing global growth, the continued malaise in the prices of coal and natural gas reflects more... 2nd August 2019 · 6 mins read
Energy Update A flood of LNG to keep a lid on EU natural gas prices In this Update we are launching our coverage of the European TTF natural gas price. In short, we think that surging global supply of liquefied natural gas will keep EU markets amply supplied over the... 1st August 2019 · 4 mins read
Commodities Chart Pack Subdued demand to remain a headwind With the exception of the precious metals, most commodity prices drifted lower in July on concerns about soft demand. Given our forecast of slower global economic growth in the second half of this... 31st July 2019 · 7 mins read
Energy Data Response US Weekly Petroleum Status Report Another hefty drawdown in US commercial crude stocks last week might be taken as a bullish sign by oil markets. However, taking a closer look at the latest week’s figures, the picture painted of... 31st July 2019 · 2 mins read
Commodities Weekly Next week is all talk (and maybe some price action) Commodity prices have largely been treading water, ahead of some major events next week. The Fed will announce its interest rate decision on Wednesday. A 25 basis points rate cut is already priced... 26th July 2019 · 7 mins read
Energy Outlook The big moves are behind us We continue to expect that sluggish growth in global oil consumption will be a factor weighing on oil prices in 2019. Nonetheless, OPEC+ output cuts and the sanctions-related drop in exports from... 26th July 2019 · 18 mins read
Commodities Outlook Not out of the woods yet Subdued economic growth will weigh on the prices of most industrial and energy commodities for the remainder of 2019. What’s more, our view that there will be a further escalation in the US-China... 19th July 2019 · 25 mins read
Commodities Weekly Precious metals prices starting to look vulnerable We now expect the Fed to start cutting interest rates at the end of this month. However, we only expect a quarter-point reduction in July and only one further cut this year. While lower US interest... 19th July 2019 · 7 mins read
Energy Data Response US Weekly Petroleum Status Report Last week’s draw in commercial crude stocks can largely be put down to a drop in production in the Gulf of Mexico linked to Hurricane Barry, rather than stronger demand for crude. While the picture is... 17th July 2019 · 2 mins read
Commodities Weekly Boost from Powell put to fade fast Fed Chair Jerome Powell’s confirmation earlier this week that an interest rate cut is likely in July gave most commodity prices a lift. And oil prices rose to their highest level since May following a... 12th July 2019 · 8 mins read
Commodities Update China’s commodity imports slide further China’s trade data for June painted a fairly downbeat picture of its demand for commodities. Given that we expect the Chinese economy to slow further over the coming months, a pick-up in China’s... 12th July 2019 · 2 mins read
Commodities Watch The rally in US lumber looks hollow After falling sharply over the course of 2018, US lumber prices have rallied by roughly 20% since the start of June. In this Commodities Watch, we explain why we think prices will slide again by year... 12th July 2019 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report Although the main cause of last week’s sharp fall in commercial crude oil stocks is not clear, it does seem that the recent shutdown of the Philadelphia Energy Solution’s refinery has had little... 10th July 2019 · 2 mins read
