Precious Metals Update Gold, geopolitics and the Fed We have raised our gold price forecast to reflect the current heightened geopolitical risk. We think the price will rise further next year as the limited fallout from the Israel-Hamas conflict won’t... 9th November 2023 · 3 mins read
Commodities Weekly Wrap How high can oil prices go? In view of the wider interest, we are also sending this Commodities Weekly Wrap to clients of the Energy Service. It was generally a strong week for commodity prices. Geopolitical tensions have... 20th October 2023 · 5 mins read
Commodities Weekly Wrap Oil also higher for longer There wasn’t a clear trend in commodity prices this week. Natural gas prices in the US and Europe were among the largest risers, though those increases appear to have been driven by dips in regional... 29th September 2023 · 4 mins read
Commodities Update China PMIs encouraging for commodities demand While doom and gloom builds around China’s growth, PMIs for August provided some encouragement this week, even if they didn’t paint a picture of booming commodities demand. They suggest infrastructure... 1st September 2023 · 2 mins read
Commodities Weekly Wrap Natural gas prices strike lower; iron ore resilient It has generally been a positive week for commodity prices. Most metals and agricultural prices rose on the week, in somewhat of a turnaround from recent trends. By contrast, energy commodities fell... 25th August 2023 · 4 mins read
Commodities Weekly Wrap Tightening oil market; Myanmar’s tin mining ban It’s been a mixed week for commodity prices. Industrial metals price generally struggled as activity surveys for China paint a grim picture of demand. (See Chart 1.) We suspect prices will tread water... 4th August 2023 · 4 mins read
Commodities Update China PMIs are grim reading for commodities demand China’s PMIs suggest that commodities demand has come completely off the boil. For the recent rally in industrial metals prices to be sustained, China’s policymakers will have to deliver on promises... 1st August 2023 · 2 mins read
Energy Focus The implications of EV rollouts on DM oil demand The message from electric vehicle sales data is now clear: the EV revolution is alive and kicking and poses important implications for oil demand. We are slightly more optimistic on the pace of EV... 31st July 2023 · 19 mins read
Commodities Update China’s commodity imports remain strong in June China’s commodity import volumes remained high in June, helped by the economic re-opening, but they were held back by softening input-related demand for the manufacture of goods for export. As... 13th July 2023 · 2 mins read
Commodities Update El Niño puts your mochaccino at risk If the weather forecasters are right, El Niño conditions have arrived in the Pacific and are set to build over the next few months. The negative impact on agricultural production will depend upon the... 23rd June 2023 · 4 mins read
Commodities Overview China’s imports firing on all cylinders in May Growth in China’s commodity imports generally was strong in May, with a notable rise in crude oil imports. While the data are consistent with our above-consensus outlook for China’s growth this year... 7th June 2023 · 2 mins read
Event Drop-In: OPEC’s surprise cut – Economics, markets, geopolitics 1680530400 In the wake of the surprise move by OPEC+ to cut oil production, we held a special online briefing about the decision’s economic and market implications – as well as what this signals about global
Event Long Run Drop-In: Fracturing and the global economy and markets through 2050 1677596400 The war in Ukraine. Ageing populations. Rising temperatures.
Commodities Watch “Food vs. Fuel” is back, but needn’t raise alarm Global food prices are at highs last reached in 2007-08 and 2011-12, when a sharp rise in global biofuel production sparked the “Food vs. Fuel” debate. In this Commodities Watch, we find that... 28th November 2022 · 8 mins read
Event Commodities Drop-In: How recession and war will drive prices in 2023 1668006000 The outlook for commodity prices has rarely felt more complex: while a looming global recession is set to drag on demand, the ongoing war in Ukraine is likely to mean some markets will remain jumpy
