Commodities Weekly Oil will be scarcer than previously expected The surprise announcement last weekend by OPEC+ countries that they would make voluntary oil production cuts, even before the OPEC advisory committee met on Monday, pushed oil prices higher by about... 6th April 2023 · 6 mins read
Commodities Weekly Advanced economies to dictate prices With the latest shudders in financial markets seemingly contained, most commodity prices ground steadily upward over the week. Oil prices did receive a boost from supply disruptions in Iraqi Kurdistan... 31st March 2023 · 6 mins read
Commodities Weekly Not out of the woods yet Just as it seemed as though stability had been restored in financial markets, a renewed bout of selling of bank stocks took place in Europe this morning. And there are a number of smaller US banks... 24th March 2023 · 6 mins read
Commodities Weekly Prices battered, financial conditions to be in focus Commodity markets were not spared the effects of widespread turmoil in the global banking system. Most prices ended the week lower as investors fled risky assets. The gold and silver prices bucked... 17th March 2023 · 6 mins read
Commodities Weekly US and China data to steer prices next week Even though US non-farm payrolls increased by 311,000 in February, the report contained signals that were consistent with slowing inflation, prompting a fall in US interest rate expectations today... 10th March 2023 · 6 mins read
Commodities Weekly Commodity markets look to the US and China It was another fairly quiet week in commodity markets, with prices caught between diverging narratives. Rather perversely, robust economic data in advanced economies weighed on commodity prices. This... 3rd March 2023 · 6 mins read
Commodities Weekly Commodity markets still in flux one year into the war It has been a tumultuous year since the outbreak of war in Ukraine. Energy markets are still in a state of flux, though they have calmed significantly. (The prices of European gas and Brent crude have... 24th February 2023 · 6 mins read
Commodities Weekly US inflation a downside risk to our price forecasts Most commodity prices fell this week due to concerns about the persistence of high inflation in the US. Data showed US CPI inflation coming in slightly stronger than expected in January, pushing up... 17th February 2023 · 6 mins read
Commodities Weekly All eyes on US data next week It was a fairly quiet week in commodities markets, although oil prices rose on concerns about earthquake-related disruption to exports from the Turkish port of Ceyhan and Russia’s announcement of a 0... 10th February 2023 · 6 mins read
Commodities Weekly Russian petroleum product exports to struggle The EU’s ban on imports of Russian petroleum products will come into force on Sunday, which could raise EU fuel prices and weigh on Russia’s product exports. However, we suspect Russia will offer... 3rd February 2023 · 6 mins read
Commodities Weekly Commodity prices poised to take a breather After rising sharply for much of this year, the Lunar New Year holiday in China meant that commodity prices generally took a bit of a pause this week. The only exceptions were natural gas prices... 27th January 2023 · 6 mins read
Commodities Weekly Spotlight shifts to developed economies The end of China’s zero-COVID policy continued to support most commodity prices this week, with many industrial metals prices extending their recent rallies. Economic activity appears to be recovering... 20th January 2023 · 6 mins read
Commodities Weekly China reopening to boost commodity prices The dismantling of China’s zero-COVID policy has come quicker than we and many had expected. Whereas we previously thought the first quarter would bring the worst of the economic disruption from... 13th January 2023 · 6 mins read
Commodities Weekly New year, same trends Most commodity prices declined this week, with energy prices falling especially sharply. Unseasonably mild weather in Europe and the US weighed on heating demand, prompting a plunge in gas prices. The... 6th January 2023 · 6 mins read
Commodities Weekly All eyes will remain on China It was a fairly quiet week in commodity markets. The only notable move was a slump in natural gas prices. The EU eventually agreed its long-discussed natural gas price cap early in the week, but it... 23rd December 2022 · 6 mins read
Commodities Weekly Huge risks associated with China reopening The raft of inflation data and central bank policy decisions were key drivers of prices this week, but to some extent China stole the show. We now think that a dismantling of the zero-COVID policy is... 16th December 2022 · 6 mins read
