Energy Watch Return of Iranian oil unlikely to budge Saudi Arabia The recent deal between Iran and the West means that it is now very likely that substantial volumes of oil from Iran will return to the market. (We do note that although a final deal is not guaranteed... 23rd April 2015 · 1 min read
Commodities Update Weather conditions start to take centre stage With eyes now starting to focus on the new crops in the Northern Hemisphere, changes in weather conditions have underpinned fluctuations in many agricultural commodity prices in recent weeks. In... 23rd April 2015 · 1 min read
Precious Metals Update Light at the end of the tunnel for platinum prices The latest data show a surge in China’s platinum imports in March, suggesting that historically low prices are finally stimulating buying interest. We think higher Chinese import volumes can be... 23rd April 2015 · 1 min read
Middle East & North Africa Chart Pack Region’s politics take another twist The conflict in Yemen and an outline nuclear agreement between Iran and the West has thrust the region’s politics back into the spotlight. Although it looks like problems in Yemen are likely to drag... 23rd April 2015 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Today’s data provide more evidence that US oil production is beginning to decline in response to lower prices rather than weather-related blips. 22nd April 2015 · 1 min read
Emerging Europe Economics Update The EC’s case against Gazprom – the key points The European Commission today charged Gazprom with abusing its dominant position in Eastern Europe’s gas market. In this Update, we answer five key questions about the decision and the implications... 22nd April 2015 · 1 min read
India Economics Update How much of a threat is the surge in gold imports? The surge in gold imports last month is likely to have been boosted by temporary factors, including an unleashing of pent-up demand by buyers that had been expecting tax cuts (which didn’t materialise... 21st April 2015 · 1 min read
Metals Data Response Global Steel Production (Mar. 15) World Steel Association (WSA) data for March show a 2.7% m/m decline in global steel output, with falls in most of the largest producers. However, some recovery can be expected in coming months... 21st April 2015 · 1 min read
Global Economics Update Further slowdown in China will not stifle growth elsewhere China’s growth rate is set to slow a little further in the coming years. This will have a significant knock-on effect on some other emerging economies, but we think its overall impact on growth in the... 21st April 2015 · 1 min read
Latin America Economics Update Reasons to remain upbeat on Mexico Despite a recession in the mining sector and an impending fiscal squeeze, we remain upbeat about Mexico. A gradual improvement in the labour market and a likely recovery in the US, after a weak start... 21st April 2015 · 1 min read
Precious Metals Update Why isn’t gold doing better despite “Grexit” risks? The price of gold has dipped below $1,200 per ounce again today, prompting some to ask whether a further escalation of the crisis in Greece would provide much support to the precious metal after all... 20th April 2015 · 1 min read
Energy Update Oil prices still face many headwinds The rebound in the last few weeks has lifted oil prices above our current end-2015 projections for Brent and WTI, but we are in no rush to change them. Some major headwinds both on the supply and... 20th April 2015 · 1 min read
Industrial Metals Update Stocks only tell half the story Stock movements and prices should have an inverse relationship, but this has not beenthe case for many of the base metals over the last month. There are, of course, otherdrivers of the price... 17th April 2015 · 1 min read
Commodities Weekly Recovery in oil prices gathers pace Oil prices rose sharply in the past week, supported by further evidence that US production and crude stocks are close to peaking – if they have not done so already. The recent stability of the US... 17th April 2015 · 1 min read
Commodities Update Outlook for cocoa prices remains bitter Further falls in European and North American cocoa grindings suggest consumers’ love of chocolate is not as sweet as it once was. Coupled with ample supply, we expect the price of cocoa to fall this... 17th April 2015 · 1 min read
Europe Economics Weekly Will QE spur a revival in investment? The risks of a Greek default and possible euro-zone exit rose further last week as its creditors made clear that a bailout disbursement was unlikely in the near term. Despite this, ECB President Mario... 17th April 2015 · 1 min read
