The price of oil surged this week in response to the announcement that OPEC members had reached a deal to curb output. However, we are sceptical that this new deal will lead to lower oil supply, not least because it could encourage a resurgence in US shale output. Otherwise, industrial metals prices have been rising and were boosted further on Friday by China’s unofficial PMI reading for September, which was slightly stronger than a month earlier.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.