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Commodities Overview Chart Pack (Jan. 2024)

Our Commodities Overview Chart Pack has been updated with the latest data and our analysis of recent developments.

We think the big declines in energy prices are now behind us. Oil prices will remain supported by geopolitical risk and a revival in demand later this year. However, we expect further falls in the prices of European natural gas and Asia LNG as supply picks up. Meanwhile, China’s government has unveiled both fiscal and monetary policy support, mostly directed towards boosting infrastructure spending and restoring confidence in the property sector, which should bolster demand for industrial metals this year. What’s more, looser monetary policy in most developed economies later in the year should provide a further fillip to commodity demand later in the year.  

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