Commodities Weekly The good, the bad and the ugly in the oil market Reports that more crude oil has been traversing the Strait of Hormuz has eased immediate concerns about the availability of crude oil supply. Reasons for caution remain, though, as the White House's... 28th August 2026 · 3 mins read
Commodities Update What to make of the US-Venezuela oil deal? If the US gains access to greater reserves of heavy-sour crude from Venezuela, it could reduce the US’s reliance on crude oil imports from Canada and Mexico. However, any deal would need to involve... 28th August 2026 · 3 mins read
Canada Economics Focus Can Canada become an oil and LNG superpower? The Canadian government has significantly shifted tack over recent years and now wants to double down on the country’s status as a net energy exporter by supporting large-scale oil and LNG... 27th August 2026 · 17 mins read
Commodities Update Perfect storm is brewing for EU natural gas prices The recent rise in EU natural gas prices to their highest level in over three years has been driven by a combination of constrained LNG supply and hot temperatures lifting demand. Against the backdrop... 25th August 2026 · 2 mins read
Commodities Rapid Response “Economic D-Day” Sanctions (Aug. 2026) The announcement of the “greatest financial offensive ever” by the US ups the ante on Iran and could widen the divide between factions in the country. But with the renewed US naval blockade already... 24th August 2026 · 3 mins read
Commodities Weekly Crack spreads nearing a peak?; gold shines; El Niño looms While we suspect that the upward pressure on oil product price spreads could soon start to ease, this does not mean that they will necessarily come back down quickly. And even if spreads stabilise... 21st August 2026 · 4 mins read
Europe Economics Update Euro-zone headline inflation will soon rise to 3.5% The indirect effects of higher energy prices on core inflation in the euro-zone have been close to non-existent so far, but they are likely to build in the second half of the year. If energy prices... 19th August 2026 · 3 mins read
Europe Economics Weekly Why has the euro-zone economy kept growing? Data published this morning confirmed that euro-zone GDP continued to grow around its trend rate in Q2, despite a sharp rise in energy prices. We forecast that the energy import bill will fall back in... 14th August 2026 · 5 mins read
Commodities Weekly Setting the record “Strait”; TTF prices could remain hot While conflicting estimates of oil flows out of the Gulf have made it harder to assess the health of the global oil market, the path towards our base case for Brent crude prices to end this year at... 14th August 2026 · 4 mins read
Commodities Update Key questions and answers on the oil product shock Gasoline and diesel prices decoupled from crude in July amid ongoing conflicts in the Middle East and Russia, limiting any relief from lower crude prices. This Update answers key questions on refined... 13th August 2026 · 5 mins read
Europe Economics Update Energy-intensive industrial production set to fall further Production in the euro-zone’s most energy-intensive manufacturing sectors rose in March and April, despite the jump in oil and natural gas prices. This is because firms’ gas and electricity costs did... 13th August 2026 · 3 mins read
Africa Economics Update Can Africa move up the commodity value chain? Governments in parts of Sub-Saharan Africa are increasingly turning to interventionist measures to boost refining of commodities. But many of the conditions to make this a success, including transport... 11th August 2026 · 4 mins read
Canada Economics Weekly Economy gaining momentum The latest data show an economy gaining momentum. While that suggests we should expect slightly more hawkish communications from the Bank of Canada when it meets next month, the recent softness in... 7th August 2026 · 5 mins read
Commodities Weekly Oil traders still unsure; the US-yen intervention & gold While the progress in negotiations between Iran and Oman have raised hopes of a future recovery of oil exports from the Middle East, Iran's clear desires to exert control over the Strait is a... 7th August 2026 · 4 mins read
Commodities Update Iran’s Hormuz proposals muddy the waters Even if Iran’s proposed restrictions on US, Israeli, and other “hostile” ships using the Strait of Hormuz are passed into law, they are unlikely to be a major obstacle to energy flows given that most... 7th August 2026 · 3 mins read
Commodities Update Where the upside risks lie for EU natural gas prices The slow summer rebuild of natural gas storage in the EU means that the price of the TTF benchmark will remain close to current levels over the winter, even if LNG exports through the Strait of Hormuz... 6th August 2026 · 3 mins read
