Commodities Daily - April 12, 2018
Geopolitical risk outweighs weakening fundamentals, oil prices surge. Oil prices surged yesterday amid a pickup in geopolitical tensions in the Middle East. Barring an unexpected development in Syria, we expect Brent to retreat below $71/bbl today on indications of weakening fundamentals.Gold prices soar on Syria escalation, later ease on hawkish Fed minutes. We think that Syria will continue dominating headlines today and that, given the market’s general sensitivity to the issue, today’s gold momentum is biased to the upside. We see it touching $1,355/oz later in the day.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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