Energy Data Response US Weekly Petroleum Status Report US inventories of crude oil fell sharply in the week to 24 th June, on the back of constrained supply and higher refinery demand, but gasoline stocks rose again. 29th June 2016 · 1 min read
Energy Watch Oil demand to rise, despite Brexit Disruptions to oil supplies in Canada and Nigeria have been behind most of the rally in oil prices over the past month. However, demand has also been growing strongly and we do not think that Brexit... 29th June 2016 · 1 min read
Industrial Metals Update A more subdued outlook for China’s copper demand Following downward revisions to our projections for China’s growth, we are also nudging down our forecast for the price of copper. Despite sizeable policy stimulus in China, it has become apparent... 29th June 2016 · 1 min read
Metals Watch Electric cars could be a game-changer for base metals Tesla, Chevy, and Nissan, three major car makers, have recently announced plans to start selling long-range affordable electric vehicles (EVs) over the next few years. This could potentially be a game... 28th June 2016 · 1 min read
Metals Data Response China and India’s gold imports (May) China’s gold imports rebounded strongly in May, after a weak start to the year. While premiums in the local market have recently turned negative, Brexit fears could spur a fresh wave of safe-haven... 27th June 2016 · 1 min read
Canada Economics Weekly Economic growth continues to misfire This week we expect to learn that monthly real GDP increased by a muted 0.1% m/m in April. Given that GDP contracted in both February and March, however, that would represent a disappointing rebound... 24th June 2016 · 1 min read
Commodities Weekly A relatively muted response to Brexit Unsurprisingly, the prices of most commodities have fallen in the wake of the UK’s vote to leave the EU. The main exception is gold, which has benefitted from renewed safe-haven demand as well as the... 24th June 2016 · 1 min read
Commodities Update UK vote for ‘Brexit’ not a game-changer for commodities The UK’s vote to leave the EU has predictably undermined the prices of industrial commodities, including oil (which initially fell by around 5% in US dollar terms) and copper (-3%), while boosting... 24th June 2016 · 1 min read
Latin America Economics Update $50pb oil still leaves Venezuela in deep trouble The recovery in global oil prices, coupled with a possible restructuring of debt repayments to China will help to ease some of the pressure on Venezuela’s economy but does not alter the bigger picture... 23rd June 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US inventories of crude oil fell again last week, but by less than expected. On the other hand, gasoline stocks rose as refineries pumped out more fuel. 22nd June 2016 · 1 min read
Emerging Markets Economics Update Emerging Market Consumer Snapshot (Q2 2016) Consumer spending in the emerging world finally looks to have turned a corner, thanks mainly to the bottoming-out of consumer recessions in Russia and Brazil. Spending in Central and Eastern Europe... 21st June 2016 · 1 min read
Metals Data Response Global Steel Production (May) World Steel Association (WSA) data, released this afternoon, show that global steel output fell by a negligible 0.1%y/y in May. However, after a weak start to the year, production still fell by 2.2% y... 21st June 2016 · 1 min read
Industrial Metals Update China’s metals imports treading water China’s metals import demand in May remained robust but down from the highs reached in March. In some cases, lower supply and higher prices are acting as constraints on import volumes. 21st June 2016 · 1 min read
Metals Data Response Global Aluminium Production (May) According to the International Aluminium Institute, global primary aluminium output declined by 0.5% y/y in May. But the annual figure masks the underlying picture of higher prices continuing to... 20th June 2016 · 1 min read
Energy Update Increased US drilling activity to limit upside for oil prices Early signs that rising crude prices have induced oil companies to bring drilling rigs back online suggest that US output could rise sooner than previously thought, especially in light of the... 20th June 2016 · 1 min read
Commodities Weekly All about Brexit Worries about contagion from a UK vote to leave the European Union (‘Brexit’) have undermined the prices of riskier assets this past week, including oil and other industrial commodities, while... 17th June 2016 · 1 min read
