Gold on track to reach new highs
Gold is the only major commodity to post year-to-date gains in the first half of 2020. The COVID-19 crisis has ripped apart the playbook for 2020. The International Monetary Fund,…
Analys
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OPEC+ overcomes Mexican standoff again and extends cuts
OPEC+ (-Mexico) has agreed to extend more aggressive oil production cuts into July. In an earlier than originally scheduled meeting over the weekend (6-7th June 2020), most…
Prices pull back as market awaits OPEC+ and demand signals
The Brent crude oil August contract traded briefly above the $40/bl line yesterday but has now pulled back again as the market is awaiting a decision by OPEC+ whether to roll…
Short term recovery due for platinum and palladium
The green industrialised precious metals – platinum and palladium have started 2020 on a weak footing owing to the spread of the COVID–19 pandemic globally. The price decline…
The crude oil market in June – Less of a crowded place
Saudi Arabia today reduced its official selling prices (OSPs) to Asia in June and crude oil prices are bouncing 6-9% on the back of that news. It signals that Saudi Arabia sees…
Price action signals a rapidly balancing market (2021 oil is cheap)
It is a huge challenge to be an oil analyst these days because the changes are so fast, the magnitudes are so large and exact numbers are so hard to pinpoint. Early…
Brent and WTI – A tale of two benchmarks
Brent and West Texas Intermediate (WTI) are two globally recognised oil benchmarks. When market participants refer to the price of oil, they typically refer to one or the other or…
Prospect of a surplus to weigh on coffee prices ahead
”Since the start of 2020, the trajectory of coffee prices has been volatile due to a chain of key market incidents. Increasing global inventories and higher production in…
Relief rally and saber rattling, but bearish selling pressure is set to return
Oil contracts are having a 10% relief rally today as Monday’s price crash moves away. It was predominantly the small investors who lost their shirts and not the professionals.…
Get me out of my long WTI June position!!!!
Right now, we have a “467 million barrels of financial “get me out of here” taking place in the WTI June contract. After seeing what happened to the WTI May contract on…