Previous 10 | Next 10 |
Russia has diverted a large share of exports to India and China, while European buyers have increased purchases from West Africa and Latin America. Greece, Malta, and Cyprus raised objections to a ban on the transporting of Russian cargoes by European-flagged vessels. The impendin...
The combination of high and rising global inflation and the Russia-Ukraine war has been driving commodities higher. Continued supply constraints from the Russia-Ukraine war and a resurgence in China’s economy will most likely support commodity prices for the rest of this year a...
Reduced usage of fossil fuels and the implementation of climate change policies are integral parts of the energy equation. After China, the Netherlands, Germany, and Poland are among Russia’s biggest oil customers. Cost and regulations, including environmental concerns over...
European importers have been avoiding crude oil shipped from Russia, as a response to the invasion of Ukraine. This has driven a rather remarkable switch in the direction of Russian crude oil flows towards Asia, mostly India and China. Our assumptions on the longer distance to be ...
In order to extend the rally in the stock market, we needed good news on the inflation front, and we needed the bond market to remain well-behaved. The resulting declines late Thursday and early Friday came quickly, putting us back in a situation where a retest of the May lows seems l...
A new high in headline inflation sends interest rates soaring. The major market averages are testing their May lows. Wednesday's Fed decision and Chairman Powell's press conference will likely dictate the direction of the market from here. Oil prices remain the lynchpin to con...
The year-over-year change in core CPI peaked in March and is coming down, albeit slower than we’d all like to see. The economy is slowing in some areas and inflation is still high but probably peaking. Bond yields are starting to look pretty attractive relative to stock div...
The consumer is saying in polls that the economy stinks, but I think they mean inflation stinks. To get inflation under control, we need to get the price of oil lower. A resolution in the Ukraine would help the economy more than anything that the Fed can do. The Fed will keep rais...
Trafigura and Goldman Sachs see oil at $140 or more. Central bank projections are more rosy. Inflation could hit 15% in the US; ECB wrong again. US inventories highlight a supply crunch. For further details see: Get Ready For $150-200 Oil And Higher Inflation
Despite this year’s rally, energy still represents less than 5% of the market capitalization of the S&P 500 Index. In our view, oil and natural gas prices are likely to remain elevated. As investors consider how to mitigate against an inflationary environment in their p...