Energy Data Response US Weekly Petroleum Status Report Lower demand from refineries is the primary reason for another unexpected rise in commercial crude stocks. This exaggerated today’s fall in prices, which had already been dragged down by weak economic... 14th August 2019 · 2 mins read
Commodities Update USDA estimates for supply disappoint grains markets The higher-than-expected forecasts for wheat and corn production in 2019/20 included in the USDA’s latest projections have sent prices tumbling. While we think that agricultural markets are right to... 13th August 2019 · 2 mins read
Industrial Metals Update Cobalt prices to soar Glencore’s decision to temporarily close the world’s largest cobalt mine by the end of this year has given cobalt prices a shot in the arm. As a result, the price of cobalt could rally by more than 60... 13th August 2019 · 3 mins read
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
Industrial Metals Update Nickel’s rally is premature Nickel prices have surged in recent weeks, owing to optimism over future demand from the electric vehicle sector and speculation that Indonesia’s ban on nickel ore exports could be brought forward... 9th August 2019 · 4 mins read
China Data Response Consumer & Producer Prices (Jul.) Weakening demand dragged producer price inflation into negative territory last month even as surging pork prices continued to push up consumer price inflation. Both have downbeat implications for the... 9th August 2019 · 2 mins read
Commodities Update Upturn in China’s imports flatters to deceive China’s commodity imports jumped in July, but this comes after pitifully low volumes in prior months and, in some cases, merely reflected improved availability. As such, it is unlikely to mark the... 8th August 2019 · 2 mins read
Energy Watch IMO 2020 demand boost will not spark oil price rally The International Maritime Organization (IMO) has set new standards for marine fuel, effective from the start of 2020. The rules have major implications for oil refineries and shipping companies, but... 8th August 2019 · 5 mins read
Energy Data Response US Weekly Petroleum Status Report While much of last week’s decline in commercial crude stocks is down to the EIA’s opaque adjustment factor, the latest stocks report nonetheless paints a fairly weak picture of US demand. Given our... 7th August 2019 · 2 mins read
Industrial Metals Update Back to normality for iron ore Iron ore prices have plunged by a sixth so far in August and we think that rebounding output and slower Chinese demand growth will mean that prices will fall by a further 20% to $80 per tonne by end... 7th August 2019 · 3 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
Commodities Update Metals in firing line of latest US tariffs Commodity prices plummeted yesterday in a knee-jerk reaction to the news of more US tariffs on Chinese goods. We have argued for some time that the US-China trade war was likely to escalate, and it... 2nd August 2019 · 3 mins read
Precious Metals Update Q2 & H1 2019 World Gold Council Demand Trends Central bank buying and ETF inflows underpinned robust demand for gold in the first half of 2019. While we think that strong official sector buying will continue, ETFs may start to see outflows as... 1st August 2019 · 3 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
