fbpx

Foenix Partners

Fuel & Oil Update – 19 May

Kicking off the week at $73.62 per barrel, Brent Crude hit a high of $77.24 on Wednesday, before slightly pulling back to $76.86—making it clear that breaking the $75 mark was not on the cards.

Metals Update – 19 May

This past Wednesday, the copper market tumbled, hitting a startling 5-and-a-half-month low. An amalgamation of factors pushed the value of this versatile metal down, with the declining demand from China—a global powerhouse in copper consumption—being the primary culprit.

Metals Update – 12 May

On Thursday, the prices of copper declined due to mundane trade data from China, the largest consumer of the metal. This gloomy economic outlook for the country weighed on the demand prospects for copper.

Fuel & Oil Update – 12 May

By last Friday, Brent had experienced an 8% decline year-to-date. On Wednesday, the benchmark reached a closing price of $72.33, representing the lowest level observed since December 2021.

Fuel & Oil Update – 4 May

Oil prices have lately lost their forward momentum, with both Brent and WTI crude plunging this week. A rather perplexing trend is being observed in the oil markets: there’s a big disconnect between inventory data and oil prices.

Metals Update – 28 April

On Friday copper prices, which are often used as a gauge of economic health, suffered their largest monthly loss since June 2022 due to weak demand from China, the top consumer, and global economic headwinds.

Fuel & Oil Update – 27 April

As we end the first month of Q2 for 2023 Brent Crude has seen a slump of around 4.5% since Monday, now trading at $78.31. Crude has hovered around the $80-$85 mark for the past couple of weeks and now threatens to break the $75 mark if the downward trend continues due to continued concern surrounding the global economy.

Fuel & Oil Update – 21 April

Thursday saw Crude Oil prices retreat to a three-week low, trading at $80.87 a barrel, down 2.5% sparked by the growing fears of inventories reaching capacity and unceasing recession angst.

Metals Report

Are you looking for insights and predictions to help you navigate the volatile metals market? Look no further than our report on the state of the global metal industry.