Commodities Daily - July 22, 2019
> Oil prices reverse course after Iran captures UK-flagged oil tanker. Today, speeches in the UK Parliament will be a focus, particularly if any announcement is made about the UK's next steps over the tanker seizure. Given that the US has already imposed the maximum possible economic sanctions. The economic or diplomatic options the UK can take are limited. As of this writing, Brent is hovering above $63/bbl. While geopolitical tension remains elevated, it is being reported that Libya's oilfield is back up and running. We therefore think that Brent will most likely remain near the $63/oz mark today.> Gold eases as investors trim 50 bp Fed rate cut bets this month. We think gold is likely to hold within the current $1,425-1,430/oz range today, being pulled in both directions by geopolitical tension and a recent price-bearish WSJ report highlighting that Fed officials are signaling only a 25 bp rate cut at the July meeting.
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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