Commodities Daily - April 3, 2018
Oil falls as Russia reports rare monthly rise in oil production amid global market selloff. However, we do not envisage a further selloff today, with investor attention turning to the forthcoming weekly US inventory data (mixed expectations) and OPEC market production data (likely bullish). We expect Brent to trade around the $68/bbl mark today.Gold advances on trade tensions in defiance of stronger dollar. We expect gold to recover to back within the $1,340-1,345/oz range later today, as investors continue to shift into gold amid the current heightened volatility and on expectations of further escalations in the trade war.
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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