Commodities Weekly Protectionist rhetoric weighs on prices Trade tensions escalated this week, as the US and China engaged in tit-for-tat announcements on proposed tariffs. The prices of commodities which would be affected by the tariffs generally fell... 6th April 2018 · 1 min read
Energy Chart Pack Rising geopolitical tensions lift oil prices March was a mixed month for energy commodities. Oil prices jumped on the back of rising tensions in the Middle East and speculation that OPEC would extend its production cuts into 2019. However... 5th April 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Inventories of crude oil slumped last week as exports rebounded and refineries processed more crude. However, production set another weekly record. We still expect prices to fall this year as surging... 4th April 2018 · 1 min read
Commodities Chart Pack Oil rises, despite trade woes Commodity prices drifted down in March, despite a relatively stable US dollar. However, given the slump in developed market equities, commodity prices held up relatively well. This was largely due to... 3rd April 2018 · 1 min read
Commodities Watch Taking stock of the first quarter In this Commodities Watch, we review developments in the first quarter of this year and draw conclusions about what they mean for our price forecasts. 29th March 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Inventories of crude oil rose last week as imports rebounded and production grew again. Admittedly, demand from refineries and consumers is strong. But we still expect soaring output to lead to higher... 28th March 2018 · 1 min read
Energy Watch Is OPEC risking its own “taper tantrum”? Oil prices have surged recently, partly due to expectations that OPEC will extend its production cuts into next year. However, some members of the group are emphasising the need for an exit strategy... 28th March 2018 · 1 min read
Energy Update Jump in oil prices likely to be temporary Increasing tensions in the Middle East and expectations that OPEC will extend its output cuts have driven oil prices higher recently. However, even if President Trump reimposes sanctions on Iran... 26th March 2018 · 1 min read
Commodities Weekly Trump’s tariffs unsettle investors The US was the focus of markets this week. The Fed hiked its target rate by 25bp on Wednesday to 1.50%-1.75% but this had been widely anticipated and there was little reaction in commodity markets. In... 23rd March 2018 · 1 min read
Canada Economics Weekly Heavy oil price benchmark likely to rebound Prices of domestic heavy crude oil appear to be going sideways, despite rising world oil prices. This trend has persisted for a few months, but there are still good reasons to believe that these heavy... 23rd March 2018 · 1 min read
Energy Update Will the new Chinese crude contract matter for prices? In our view, the new yuan-denominated crude futures contract should have no long-term impact on oil prices, even if it becomes a major benchmark. At any rate, a history of extreme volatility in China... 23rd March 2018 · 1 min read
Energy Focus What can game theory tell us about OPEC’s decisions? Contrary to almost all expectations, compliance with OPEC’s output quotas has been good so far. However, game theory suggests that higher oil prices increase the pay-off from cheating on the deal... 22nd March 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Inventories of crude oil fell last week as imports dropped and demand from refineries jumped. However, production is still rising rapidly. We expect soaring output to lead to higher stocks and lower... 21st March 2018 · 1 min read
Commodities Weekly All quiet on the commodities front There were few large moves in commodity prices this week. China’s activity data for the first two months of the year, published on Wednesday, were reasonably strong but failed to give a material lift... 16th March 2018 · 1 min read
Commodities Update US tariffs unnerve metals markets Commodity prices have rebounded, after slumping in the wake of the global equity sell-off in late January, although they have dipped a bit lately, despite dollar weakness. The agriculture index has... 14th March 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Another rise in US production drove crude stocks higher last week, despite lower net imports and a rebound in demand from refineries. Surging oil supply from the US is a key reason why we expect oil... 14th March 2018 · 1 min read
