Metals Update – 25 May
Industrial & Precious markets are watching key events coming out of the US, as Eurozone and Chinese weakening economic indicators act as a catalyst for an already dangerous turning point in the US economy. While fears of further rate hikes did act as a drag on Industrial Metals for the last few months, the added factor of the US Debt Ceiling has also become a significant event that could test Global Markets across all Asset Classes in the coming weeks.
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 – 4 May
Russian gold has suffered from the reluctance of Western buyers, who have been avoiding it due to Moscow’s invasion of Ukraine. This shift has led sellers to seek out new buyers in different locations such as the United Arab Emirates, Hong Kong, and Turkey.
Hedging Highlights: Fuel Hedging as a Risk Management Tool Can Help UK Transport Businesses Stay Afloat
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.
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.