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Food, Fuel, and the Cost-of-Living Crisis
Amid a backdrop of slowing global growth as central banks act ever-more aggressively to rein in high inflation, the recent decline in commodity prices has been a rare bright spot. But whether the energy and food crises are really resolving, the implications for global growth, inflation, and political stability are Top of Mind.
The War in Ukraine Stokes Global Food Inflation
Russia’s invasion of Ukraine has heightened the uncertainty over food supply, a global market that was already feeling the effects of COVID-19 and the ongoing impact of climate change. With the help of Goldman Sachs Research, we took a closer look at the regions most affected by surging food prices and the increasing cost of agricultural commodities and products.
Battery Metals Watch: The End of the Beginning
Goldman Sachs Research analysts argue that the battery metals bull market has peaked. With climate change being top of mind, investors are fully aware that battery metals will play a crucial role in the 21st century global economy, just as bulk and base metals did before them.
The Invasion of Ukraine is Accelerating the Supercycle in Commodities
As the war between Russia and Ukraine escalates, global commodities markets are going through the most upheaval since the 1973 oil embargo on the U.S. But this time the energy crisis is most acute in Europe, which relies more heavily on Russian exports. And the shock isn’t confined to one commodity. Russia is the second largest commodity producer in the world (behind the U.S.), and the repercussions of its invasion seem to have changed global supply chains overnight. We sat down with Goldman Sachs’ Global Head of Commodity Research Jeff Currie for his view on global commodities and the impact on markets.
The Case for Commodities: ‘Super-Backwardation,’ Structural Demand and Inventory Shortages
In this episode of Exchanges at Goldman Sachs, Jeffrey Currie, global head of Commodities Research in Goldman Sachs Research, discusses why he believes commodities are entering a supercycle and how the current geopolitical landscape is shaping commodity markets.
The Impact of Rising Natural Gas Prices
As natural gas prices hit record highs in Europe and Asia, what does that mean for the broader commodity complex? Goldman Sachs Research’s Damien Courvalin explains the impact of rising prices on energy costs, inflation and economic growth.
Copper is the New Oil
A surge in green capex—combined with the lack of copper mining projects—will lead to a multi-year bull market in copper, explains Goldman Sachs Research’s Nick Snowdon.
The Beginning of a Structural Bull Market for Commodities
Damien Courvalin, head of Energy within the Commodities Research team for Goldman Sachs Research, discusses his team’s latest outlook for commodities and why they’re raising their returns forecasts.
A Sea Change for the Global Shipping Industry
The global shipping industry has a sulfur problem. Although the world’s shipping fleet accounts for just 7% of the oil used by the transportation sector, it generates 90% of its sulfur emissions, contributing to respiratory and cardiovascular diseases in humans. With a new cap on marine fuel sulfur emissions set to take effect in 2020, there could be a significant impact across multiple sectors. Watch Video
The New Oil Order: On Hiatus
The shift from a lower-for-longer to a higher-for-now oil price environment is set to continue this year says Goldman Sachs Research’s Jeff Currie, but the “New Oil Order” story isn’t over. Watch Video