Commodities Weekly Prices hang on the outcome of the OPEC+ meeting Despite the apparent conviction of US President Trump, much uncertainty remains over whether Saudi Arabia and Russia will manage to strike a deal in today’s OPEC+ meeting. Our best guess is that the... 9th April 2020 · 8 mins read
Commodities Weekly All eyes on OPEC+ (again) The price of Brent crude surged by 30% this week after President Trump suggested that Saudi Arabia and Russia were close to agreeing an eye-watering 15m bpd output cut to combat COVID-19’s hit to... 3rd April 2020 · 7 mins read
Commodities Weekly Supply cuts unlikely to lift prices yet Commodity prices are still highly volatile, but they have remained in the doldrums this week despite the rally in other risky assets, notably equities. We have argued for some time that until the... 27th March 2020 · 7 mins read
Commodities Weekly Commodity prices still on thin ice Industrial commodity prices slumped this week amid virus-related economic disruption in the US and Europe and rising concerns about a deeper economic downturn in Asia, particularly China. Meanwhile... 20th March 2020 · 7 mins read
Commodities Weekly Still some way from the bottom Commodity prices tumbled this week, echoing moves in other financial markets. Oil was among the worst performers as Saudi Arabia and Russia announced that they will ramp up output from April, after... 13th March 2020 · 7 mins read
Commodities Weekly Oil prices plunge as Russia refuses to play ball Oil prices closed below $50 per barrel this week for the first time in two years as Russia refused to rollover or deepen OPEC+ output cuts at the latest meeting with OPEC in Vienna. As a result, we... 6th March 2020 · 7 mins read
Commodities Weekly Virus is prompting a rethink of forecasts The prices of almost all commodities plunged this week amid fears that the coronavirus is morphing into a pandemic, with negative implications for global economic activity and commodities demand... 28th February 2020 · 7 mins read
Commodities Weekly Markets to remain concerned about China’s demand Industrial commodity prices trod water this week as investors struggled to assess the extent of the economic fallout from COVID-19. That said, the lingering sense of uncertainty put wind in the sails... 21st February 2020 · 7 mins read
Commodities Weekly Sense of calm may not last The prices of most industrial commodity prices rose this week on hopes that the coronavirus is near to its peak and that economic activity in Asia will start to pick up soon. The announcement of... 14th February 2020 · 7 mins read
Commodities Weekly Virus to remain the main driver of prices Having plunged a week earlier, commodity prices stabilised a little towards the end of this week. That said, until we have a clearer steer on the scale and duration of the coronavirus, it is difficult... 7th February 2020 · 7 mins read
Commodities Weekly Coronavirus continues to plague commodities Commodity prices lost ground last week, as the rapid spread of the Wuhan coronavirus has dented China’s near-term growth prospects. Indeed, both oil and base metals prices have fallen 10% from their... 31st January 2020 · 7 mins read
Commodities Weekly Coronavirus highlights fragility of price recovery Fears that the outbreak of a new coronavirus in China could dent demand hit industrial commodity prices hard this week, erasing almost all year-to-date gains. We don’t pretend to be experts on public... 24th January 2020 · 7 mins read
Commodities Weekly Wait and see … The lukewarm market reaction to the signing of the Phase One trade deal between the US and China lends weight to our view that an agreement had already been priced by commodities markets. For our part... 17th January 2020 · 7 mins read
Commodities Weekly Devil in the detail of US-China trade deal Oil prices yo-yoed last week, as US-Iran warmongering faded almost as quickly as it started. Similarly, the price of gold spiked, but ended the week unchanged. Meanwhile, the market reaction to the... 10th January 2020 · 7 mins read
Commodities Weekly US-Iran tensions to take centre stage Oil prices received a shot in the arm following Friday’s assassination of Qassem Soleimani, a top ranking Iranian general. Regardless of geopolitical events, we expect constrained supply growth and a... 3rd January 2020 · 7 mins read
Commodities Weekly Commodities end the year on a high Most commodity prices rose this week, in part owing to the release of strong Chinese activity data. Lingering optimism following the announcement of a US-China “Phase One” trade deal at the end of... 20th December 2019 · 7 mins read
