Commodities Update Four reasons why the weakness in oil prices won’t last long The recent weakness in oil prices is largely due to concerns over persistently high US stocks and growing production there. However, the headline US crude stocks number is a little misleading and US... 5th May 2017 · 1 min read
Metals Chart Pack Investor sentiment sours The prices of both industrial and precious metals suffered last month from waning investor optimism about the outlook for demand. Indeed, concerns appeared justified as China’s manufacturing PMI... 3rd May 2017 · 1 min read
Energy Data Response US Weekly Petroleum Status Report A sharp fall in the amount of oil in the US Strategic Petroleum Reserves (SPR) prevented commercial stocks from falling by as much as expected. 3rd May 2017 · 1 min read
Commodities Chart Pack A bumpy ride for commodities The prices of many commodities had a volatile month, led by the price of oil which is being buffeted by a lack of clarity on future supply. Industrial metals prices fell sharply on renewed concerns... 2nd May 2017 · 1 min read
Commodities Update China’s activity slowed in April Both the official and unofficial April manufacturing PMIs for China surprised on the downside. There are now clear signs of cooling domestic demand, which will weigh on commodity demand. That said... 2nd May 2017 · 1 min read
Commodities Weekly Geopolitical concerns keep commodity prices volatile This week has been dominated by speculation about whether OPEC will extend its output cuts at its next semi-annual meeting at the end of May. Even though an extension now appears likely, this failed... 28th April 2017 · 1 min read
Canada Economics Weekly Softwood lumber dispute isn’t start of potential trade war The decision by the US Commerce Department to impose preliminary import duties of close to 20% on Canadian softwood lumber isn’t a big surprise to domestic producers, nor will it seriously threaten... 28th April 2017 · 1 min read
Commodities Outlook Downhill from here The prices of many commodities have come off the boil recently on fading optimism about demand, rising geopolitical risk and the prospect of further US monetary tightening and dollar appreciation. Of... 26th April 2017 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Crude oil stocks slumped for the third consecutive week as demand from refineries rose to its highest level on record. Meanwhile, both gasoline and distillate inventories increased sharply. 26th April 2017 · 1 min read
Industrial Metals Update China’s metals imports likely to remain subdued China’s trade data for March depict a relatively weak picture for metals demand. While in some cases imports picked up in the first quarter, we think that optimism about demand rather than strong... 25th April 2017 · 1 min read
Metals Data Response China and India’s gold imports (Mar.) The latest trade data show a sharp rise in gold imports in China and India in March. While demand in India picked up ahead of the Akshaya Tritiya festival, Chinese buyers probably took advantage of... 25th April 2017 · 1 min read
Energy Update Will the shake-up of the Brent oil benchmark affect prices? We expect the change in the method for assessing the Brent global benchmark to have a negligible effect on the price of Brent going forward. Rather, we anticipate fundamental factors such as stronger... 24th April 2017 · 1 min read
Metals Data Response Global Steel Production (Mar.) World Steel Association (WSA) data showed a 5.7% y/y rise in global steel production in the first quarter. Output rose strongly in all regions of the world. 24th April 2017 · 1 min read
Industrial Metals Update China Industrial Metals Output Monitor (Feb./Mar.) China’s refinery output picked up pace in the first quarter, encouraged by higher prices and optimism about demand. Iron ore and steel production were growing particularly strongly, but prices have... 24th April 2017 · 1 min read
Commodities Weekly Better economic news fails to boost prices Concerns about oil demand in the US weighed on prices this week. On the other hand, Saudi Arabia has indicated that OPEC is close to agreeing an extension to its output cuts, which are currently due... 21st April 2017 · 1 min read
Middle East & North Africa Chart Pack Saudi Arabia hints at OPEC deal extension Recent comments from Saudi Arabia’s Oil Minister, Khalid al-Falih, suggest that OPEC is edging towards an agreement to extend its oil production cuts when it meets in Vienna next month. Having ruled... 21st April 2017 · 1 min read
