Commentary

Petroleum prices increased for a second consecutive week as Brent neared $70 per barrel midweek. The largest weekly decline in US Crude inventories in over a year, a weakening dollar, strong economic data from China and easing summer travel... more

In today’s world of DOLLAR domination it is easy for the U.S. Treasury — under the guidance of the president — to place sanctions on many different global actors as they strive to use the conduit of SWIFT and other banking... more

Petroleum prices reached six-week highs as total commercial petroleum inventories fell by 1.6 MB despite US refinery utilization rates reaching 13-month highs. Prices did ease slightly on Friday largely due to profit-taking linked to the US... more

We are now in the heart of the planting season for the 2021 crop year. Last April, prices were languishing at lows. Nearby CBOT corn futures traded to a low of $3.0025 per bushel. Soybean futures bottomed at $8.0825, while CBOT wheat reached $4.... more

Petroleum prices softened on the week, primarily driven by a surge in Covid-19 cases in India, Japan and Brazil that weighed heavily on expectations of near-term demand. Stronger economic and vaccination data from the United States and slight... more

Petroleum prices recovered significantly this week as positive economic data from China, increases in monthly demand forecasts by both OPEC and the Paris-based IEA, a series of diplomatic expulsions between the US and Russia linked to both the... more

Petroleum prices soften this week as the reality of pending increases in OPEC+ output coupled with increases in production from members not bound to the agreement, emerging signs of a slowing economic recovery linked to stubborn remnants of the... more

Since I last wrote, it has been a time for thought, contemplation and discussion. This week I recorded an FRA podcast with Richard Bonugli and Larry McDonald. It was the equivalent of the “Wide World of Sports” as we traveled around the world... more

Presented by Financial Repression Authority.

The raw material markets asset class moved higher in the first quarter of 2021 after a volatile 2020 when the pandemic caused a massive selloff early and a huge turnaround that pushed some prices to all-time or multi-year highs. The commodity... more