Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

Commodities

<ul><li>Trump prioritizes reducing US trade deficit by urging nations with trade surpluses to increase oil and gas purchases or face tariffs</li><li>To reduce bilateral deficits, US would need to significantly increase oil and gas exports to Europe, China, South Korea, and Japan</li><li>Trump administration aims to accelerate US oil and gas production growth to meet demand and potentially lower costs for producers to achieve goals of reducing trade deficit and increasing energy exports</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Trump prioritizes reducing US trade deficit by urging nations with trade surpluses to increase oil and gas purchases or face tariffsTo reduce bilateral deficits, US would need to significantly increase oil and gas exports to Europe, China, South Korea, and JapanTrump administration aims to accelerate US oil and gas production growth to meet demand and potentially lower costs for producers to achieve goals of reducing trade deficit and increasing energy exportsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

<ul><li>Strong gains in oil prices attributed to tightening sanctions against Russia and Iran by outgoing Biden administration</li><li>Market anticipating decline in Russian and Iranian oil exports, with potential disruptions and price increases</li><li>Russian oil exports showing resilience despite sanctions, with logistics and companies excluded from restrictions providing room for maneuvering</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Strong gains in oil prices attributed to tightening sanctions against Russia and Iran by outgoing Biden administrationMarket anticipating decline in Russian and Iranian oil exports, with potential disruptions and price increasesRussian oil exports showing resilience despite sanctions, with logistics and companies excluded from restrictions providing room for maneuveringThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: (Mis)Pricing of the risk

<ul><li>China implementing stimulus measures to boost growth</li><li>Cold weather leading to increased demand for heating fuel oil</li><li>Global oil inventories at record lows, with improving sentiment on China leading to potential increase in domestic demand.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

China implementing stimulus measures to boost growthCold weather leading to increased demand for heating fuel oilGlobal oil inventories at record lows, with improving sentiment on China leading to potential increase in domestic demand.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

<ul><li>Wall Street sell-side analysts discuss feedback and questions policies regarding oil price divergence in 2025</li><li>Consensus view among analysts suggests bearish sentiment in equity energy investors compared to forecasts</li><li>Market projections indicate potential tighter global oil balances and reduced likelihood of disorderly price collapse following OPEC meeting in early December 2024.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Wall Street sell-side analysts discuss feedback and questions policies regarding oil price divergence in 2025Consensus view among analysts suggests bearish sentiment in equity energy investors compared to forecastsMarket projections indicate potential tighter global oil balances and reduced likelihood of disorderly price collapse following OPEC meeting in early December 2024.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

<ul><li>Precious metals sub index has surged by 62% year to date, base metals are up 11%, oil has declined by 16%, and agricultural livestock index has been flat</li><li>Forecasting broadly flat returns for 2026, with declines in energy offset by price increases in metals and agriculture</li><li>Gold price expected to rise to $5,000 per ounce by end of 2026, driven by supply inelasticity, central bank demand, and investor inflows</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Precious metals sub index has surged by 62% year to date, base metals are up 11%, oil has declined by 16%, and agricultural livestock index has been flatForecasting broadly flat returns for 2026, with declines in energy offset by price increases in metals and agricultureGold price expected to rise to $5,000 per ounce by end of 2026, driven by supply inelasticity, central bank demand, and investor inflowsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: 2026 Outlook – Supply-driven crocodile cycle

United States

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

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Crude Oil (CL1 COM COMDTY)

Global Commodities: $45 is the new $55

Trump aims to reduce US trade deficit by increasing oil and gas sales, which may require a significant boost in exports and higher oil prices to...

At Any Rate

Global Commodities: (Mis)Pricing of the risk

Summary: Oil prices have surged as a result of tightening sanctions against Russia and Iran, leading to shifts in price ranges, increased volumes,...

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Global Commodities: Right on cue

Global crude oil prices near $80, driven by low inventories, supply concerns, and winter demand, are expected to remain steady in the 70s due to...

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Global Commodities: The biggest pushback

Wall Street analysts discuss feedback and question policy on oil prices, with a consensus view for 2025 ranging from $60 to $95 amidst bearish...

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Global Commodities: 2026 Outlook – Supply-driven crocodile cycle

The precious metals sub index has experienced a significant increase, with gold price expected to reach $5,000 per ounce by the end of 2026, while...

At Any Rate

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