Commodities Daily - November 19, 2018

> Oil rises on prospect of OPEC cut, weaker dollar before tumbling; conclusions about murder of Saudi journalist eyed. Early this week, investor attention will turn to the US's conclusions on the killing of Saudi journalist Jamal Khashoggi, with Donald Trump on Saturday saying that his administration will release a full report in the next two days. We think that if the US administration report lays any of the blame on the crown prince, then it could be taken as bullish for oil. If it does not, then a negative price reaction could be expected, as investors may see it as an implicit deal in exchange for the Saudi's ensuring there is a limited or no production cut.> Gold prices rebound as dollar performs a U-turn. Most currencies are largely flat this morning. Investors are awaiting a speech tonight by New York Fed President John Williams. If he is cautious on global growth and appears dovish like his colleagues, the greenback could slide further, which would be positive for gold. We expect gold to break above the $1,225/oz mark later today.