Loading…
Saxo's quarterly outlook argues that commodity prices may keep rising as tight supply, especially in energy, offsets weaker economic growth in Europe, the US and China. It says OPEC+ supply management has created price-supportive tightness in crude and fuel products.
It also sees a possible strong quarter for precious metals if stagflation risks grow.
Expectations of tight energy supply support higher diesel and fertilizer-linked costs, which feed into feed production costs. The outlook is a forecast rather than a new event.
home.saxoOle HansenOct 6, 2023After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
