Commodities Weekly OPEC+ won’t let prices slide Moves in commodity prices have been fairly muted on the week, but this masks a dramatic mid-week plunge and recovery in oil prices. The big news was that OPEC+ announced a four-day delay to its policy... 24th November 2023 · 5 mins read
Commodities Weekly Another sour week for oil, precious metals to shine Gold and silver prices soared this week on renewed optimism that the Fed had hiked to the peak of its monetary policy mountain. We expect prices to rise further when interest rates begin to be cut... 17th November 2023 · 5 mins read
Commodities Weekly US steel price rise not structurally sound Oil prices continued to fall this week, perhaps reflecting less concern that the Israel-Hamas conflict will expand to other countries in the region and that Middle East oil supply will be negatively... 3rd November 2023 · 5 mins read
Commodities Weekly War and weather to drive prices in short term The conflict between Israel and Hamas continued to drive commodity prices this week. Oil prices fell back while gold prices defied the stronger dollar and held steady. Events in the Middle East will... 27th October 2023 · 6 mins read
Commodities Weekly 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 “Wait-and-see” prevails in commodities markets It was a mixed week for prices, with energy, agricultural and precious metals outperforming industrial metals. There was a relatively muted reaction to the outbreak of the Israel-Hamas conflict... 13th October 2023 · 4 mins read
Commodities Weekly Few commodities spared from this week's sell-off It has been a week of declines for most commodity prices, as commodities were caught up in the more widespread selling of financial assets. Crude oil prices were among the hardest hit, whereas... 6th October 2023 · 4 mins read
Commodities Weekly 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 Weekly Russia fuel export ban will temporarily lift crude prices Most commodity prices fell this week as the Federal Reserve left the door open to another interest rate hike before the end of the year, and indicated that rates will remain higher for longer. Russia... 22nd September 2023 · 4 mins read
Commodities Weekly Commodity prices fire up across the board The mood was upbeat in commodity markets this week, with prices rising across all sectors. Oil stood out, with the price in the US cracking $90 per barrel for the first time this year. Higher oil... 15th September 2023 · 5 mins read
Commodities Weekly Yawning deficit in the oil market to prop up prices It was a mixed week for commodity prices as they faced conflicting pressures in the form of the appreciation of the US dollar, mounting supply risks and signs of some resilience in China’s demand... 8th September 2023 · 5 mins read
Commodities Weekly Metal prices still struggling, despite China stimulus Most commodity prices rose this week after data showed that US labour market conditions are easing, lowering expectations for US interest rates and weakening the dollar. It is perhaps surprising that... 1st September 2023 · 4 mins read
Commodities Weekly 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 Oil prices hit a great wall, metals await stimulus Commodity prices generally fell this week, dragged down by a surging dollar and data that showed China’s economy struggled in July. Asia LNG and EU natural gas prices were the exception, rising as the... 18th August 2023 · 5 mins read
Commodities Weekly Natural gas prices strike higher Natural gas prices were the biggest mover in commodity markets this week, jumping higher on the back of news of potential industrial action at LNG plants in Australia. We don’t think gas prices in... 11th August 2023 · 5 mins read
Commodities Weekly 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
