Market Digest

Commodities were broadly lower in September as market participants grew increasingly concerned about the extent of the global growth slowdown. Nelson Louie, Global Head of Commodities in Credit Suisse’s Asset Management division, said, “Investor and consumer sentiment has continued to deteriorate and this may further impact the rate of economic growth.  However, fundamentals for certain [...]

China consumed an estimated 35.54 million metric tons (mt) of oil in August, 7.6% higher than the corresponding month of last year, but a continuing decline from June’s all-time peak, according to a just-released Platts analysis of official data from the People’s Republic of China. The August apparent* oil demand equates to an average 8.40 [...]

UK importers’ and exporters’ confidence rose in August but the business outlook remains challenging, according to Travelex Global Business Payments. With confidence in an export-led recovery falling for the second consecutive month, the international payments provider issued a rallying call to UK manufacturers, calling on them to drive exports through “quality, innovation and differentiation.” Whilst [...]

Production Rose 100,000 b/d from June; OPEC-11 Pumped 26.82 mil. b/d The 12-member Organization of the Petroleum Exporting Countries’ (OPEC) crude oil production output averaged 29.22 million barrels per day (b/d) in July, up 100,000 b/d from an estimated 29.12 million b/d in June, according to a just-released Platts survey of OPEC and oil industry [...]