Commodities Daily - February 12, 2019
> Oil continues to struggle for direction; EIA and OPEC monthly reports eyed. We think that these reports - along with US inventory updates - will provide a sufficient amount of upbeat fundamental drivers for oil prices to climb no matter where global market risk sentiment goes today, although as of this writing the latter is actually providing a strong tailwind. We expect Brent to move toward $63/bbl later today.> Gold again holds above $1,310/oz amid dollar strength. The US Congress last night reached an agreement to avoid another government shutdown.> Base metals continue to sell off on risks of US-China trade war continuing on. Base metal prices are down for the second day in a row following the return of Asian investors after the Chinese holiday. Nickel this morning is down 0.6%, zinc 0.2% and copper 0.15%.
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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