Commodities Overview

Commodities Weekly Wrap

21 December, 2018

Oil sets the tone for 2019

The price of oil plunged again this week but, while we are negative on the outlook for 2019, we think that the latest falls are being driven more by bearish investor sentiment than fundamentals. After all, OPEC+ appears to be serious about its output cuts, announcing this week that it will publish individual country quotas. That said, this additional effort to boost confidence in the cuts reeks a little of desperation in the face of collapsing prices.

Elsewhere, most other commodity markets are

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