Tag Archives: oil
Commodities Flat in January After Second-Best Yearly Performance in Two Decades
The 24 individual commodities comprising the S&P GSCI finished the first month of 2023 with divergent performance. This echoed the uncertain path forward regarding inflation expectations. Half outperformed, with industrial metals leading the way, while the other half declined, with natural gas tanking, as European countries filled their tanks to their brims. Gold had one…
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Commodities Outperform for the Second Year in a Row
The market standard commodities benchmark, the S&P GSCI, performed admirably in 2022, rising 26%, outpacing other commodities indices and asset classes, as well as defying higher interest rates and growing fears of a prolonged global economic slowdown, while high inflation provided a solid backdrop for one of the most inflation-sensitive asset classes. Commodities has been…
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Commodities Challenged by Slowing Global Growth in November
Commodities, represented by the broad-based S&P GSCI, fell 1.7% in November on the back of weakness in the petroleum and grains complexes. Global commodities markets were particularly hit this month by worries over rare demonstrations in China against COVID-19 curbs, with oil and grains falling to multi-month lows and safe-haven gold rising. After 11 months,…
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Petroleum Helped the S&P GSCI Gain 6.7% in October
Commodities, represented by the broad-based S&P GSCI, rose 6.7% in October on the back of strength in the petroleum complex. During the month, the director of the International Energy Agency said the world is in the middle of “the first truly global energy crisis.” All petroleum constituents rose by double-digit percentage points. Livestock also rose,…
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commodities, electricity, energy, energy prices, fuels, grains, industrial metals, inflation, natural gas, precious metals, S&P GSCI, S&P GSCI Agriculture, S&P GSCI Aluminum, S&P GSCI Gold, S&P GSCI Heating Oil, S&P GSCI Lean Hogs, S&P GSCI Natural Gas, S&P GSCI Nickel, S&P GSCI Soybeans, S&P GSCI Wheat, SP GSCI Corn, supply chain
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- commodities, electricity, energy, energy prices, fuels, grains, industrial metals, inflation, natural gas, precious metals, S&P GSCI, S&P GSCI Agriculture, S&P GSCI Aluminum, S&P GSCI Gold, S&P GSCI Heating Oil, S&P GSCI Lean Hogs, S&P GSCI Natural Gas, S&P GSCI Nickel, S&P GSCI Soybeans, S&P GSCI Wheat, SP GSCI Corn, supply chain
U.S. Dollar Strength Catches Up with Commodities
U.S. dollar strength caught up with commodities in September, with the benchmark S&P GSCI falling 7.8%. Almost all physical commodities are priced in USD, and a stronger USD has historically correlated to weaker commodity demand and lower commodity prices. But the S&P GSCI is holding onto a 21.8% YTD gain despite the USD strength, energy…
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commodities, electricity, energy, energy prices, fuels, grains, industrial metals, inflation, natural gas, precious metals, S&P GSCI, S&P GSCI Agriculture, S&P GSCI Cotton, S&P GSCI German Power, S&P GSCI Gold, S&P GSCI Industrial Metals, S&P GSCI Natural Gas, S&P GSCI Petroleum, S&P GSCI Silver, supply chain
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Commodities on the Front Foot in January
The strong inflation tailwind that supported commodities in 2021 has bled into 2022, as the S&P GSCI started the year on the front foot, up 11.6% in January. In contrast, the S&P 500® fell 5.2% over the same period. Inflation has traditionally helped commodity markets. Commodities have also historically been a good hedge against inflation….
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Commodities Crushed It in 2021
The market standard commodities benchmark, the S&P GSCI, crushed it in 2021, rising 40.35% and outpacing other similar commodity indices and asset classes, as high and rising inflation provided a great backdrop for this inflation-sensitive asset class. Commodities finished strong in December, rising 7.59% over the month as energy bounced back and Omicron COVID-19 variant…
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Energy Markets Tumble in November
The S&P GSCI, the broad commodities benchmark, declined 10.8% over the month. The poor performance was driven almost exclusively by a major correction in energy prices, as the discovery of the Omicron COVID-19 variant cast a lengthening shadow over demand growth, added further complications to global supply chains, and dampened economic growth forecasts. The release…
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Industrial Commodities Benefit from Hopeful COVID-19 Vaccine News
November proved to be a good month for risk assets, including commodities. The headline S&P GSCI rose 12.0%, outperforming the S&P 500®, which gained 10.8%. Promising developments on the COVID-19 vaccine front and the U.S. election outcome rewarded risk assets such as energy and industrial metals, while safe-haven assets like gold lost some luster. The…
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A Second Wave Sinks Commodities in September
The headline S&P GSCI fell 3.6% in September on the back of growing concern regarding the prolonged economic impact of a second wave of the COVID-19 pandemic. Across sectors, both industrial metals and energy contracted, while the agriculture and livestock sectors benefited from cursory signs of the return of demand from China. The S&P GSCI…
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