Commodities Daily - December 10, 2018
> Oil prices surge on new OPEC+ deal; force majeure on Libyan exports eyed. Now the major concern for investors is whether surging US production amid lower demand growth next year will offset the new OPEC+ cuts. All eyes will be on the White House given that the cuts conflict with its interests. We think that Brent is likely to surge toward $63/bbl today as more investors price in the successful outcome of the meeting amid continued headwinds from global equity markets. Meanwhile, the closure of some Libyan oil fields should give more support. > Strong rally in gold prices continues. On Friday, a weaker than expected US jobs report pushed gold prices from $1,237/oz to $1,250/oz. The positive market sentiment has continued this morning and prices are at $1,247-1,248/oz.
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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