Commodities Overview

Commodities Weekly Wrap

29 June, 2018

Oil bucks the trend

Most commodity prices fell this week on fears of a slowdown in the Chinese economy and rising trade tensions between the US and China. The exception was oil, which jumped on the announcement of a new OPEC deal, falling US inventories and concerns that supply from Iran could be cut sharply.

It will be a busy week for commodity markets next week. We expect both the “official” (Saturday) and Caixin (Monday) manufacturing PMIs from China to have fallen in June, which could weigh on the prices

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