Energy Data Response US Weekly Petroleum Status Report Commercial crude stocks continued to fall in the latest weekly data, but this was a reflection of lower supply and higher exports than a recovery in consumer demand. However, all the signs point to... 7th April 2021 · 2 mins read
Commodities Chart Pack Commodity prices to take a breather in the near term A rise in new coronavirus infections in many parts of the world, including Europe and India, weighed on investor sentiment in commodity markets in March. However, all the signs point to a rapid... 7th April 2021 · 7 mins read
Energy Update Higher OPEC+ production to limit oil price gains The recent decision by OPEC+ to increase its oil production quotas and the prospect of higher Iranian output point to a smaller global oil market deficit this year than we had previously envisaged... 7th April 2021 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report The increase in refinery throughput and decline in net imports meant that US crude stocks fell last week for the first time in around two months. We expect that stocks will fall further in the coming... 31st March 2021 · 2 mins read
Precious Metals Update Real yields and gold The recent drop in the price of gold below $1,700/oz. has illustrated its greater sensitivity to US long- than short-dated real yields. Although the price has nudged back up above this level at the... 31st March 2021 · 4 mins read
Commodities Weekly Impact of Suez blockage likely to be short-lived Commodities markets were something of a mixed bag this week. The grounding of a container ship in the Suez Canal helped to prop up the prices of some commodities despite growing worries over the... 26th March 2021 · 6 mins read
Energy Update Five key questions on the EU’s carbon border tax Later this year, the European Commission is expected to provide draft details on how the EU will introduce and implement a carbon border adjustment mechanism (CBAM, often dubbed a ‘carbon border tax’)... 26th March 2021 · 5 mins read
Energy Data Response US Weekly Petroleum Status Report The pace of builds in US crude stocks continued to slow last week as refinery activity surged. However, we expect stocks to ease back in the coming weeks as refinery capacity utilisation steadily... 24th March 2021 · 2 mins read
Metals Watch The outlook is brighter for palladium than platinum In this Metals Watch, we examine the outlook for supply and demand of platinum and palladium to determine the direction of their prices over the next couple of years. 24th March 2021 · 5 mins read
Energy Update Surge in US oil production still seems very unlikely Despite the ongoing rise in the number of rigs actively drilling for oil, we continue to expect a lacklustre recovery in US oil production over the next couple of years. 24th March 2021 · 2 mins read
Metals Data Response Global Aluminium Production (Feb.) Average daily global aluminium production inched up in February. And with ShFE and LME prices at multi-year highs, we expect production to continue growing in 2021. 22nd March 2021 · 2 mins read
Commodities Weekly Optimists need a little patience Commodities markets experienced a bit of a reality check this week, with prices falling despite little material change in the underlying demand and supply fundamentals. In the same way that optimism... 19th March 2021 · 5 mins read
Energy Data Response US Weekly Petroleum Status Report Even with the continued recovery in refinery activity, US crude stocks rose last week. However, we suspect that stocks will fall soon as refinery activity rises further and crude production holds... 17th March 2021 · 2 mins read
Commodities Focus The anatomy of a supercycle History shows that supercycles are usually demand-driven, and that the performance of individual commodity prices has varied hugely both within and between past supercycles. In addition, supercycles... 17th March 2021 · 13 mins read
Commodities Update Little chance of a supercycle in agriculturals Agricultural prices are currently trading near multi-year highs, but we doubt that a supercycle is underway or will occur anytime soon. Instead, we think that agricultural prices will fall over both... 16th March 2021 · 3 mins read
Commodities Weekly Tweaking our forecasts; the super-cycle debate Despite big moves in bond and equity markets, commodity markets were fairly subdued this week. Nevertheless, we expect oil prices to break higher again before long, and our new forecasts show them... 12th March 2021 · 8 mins read
