Natasha Kaneva, the Head of Global Commodities Research, dives into the intricacies of the oil market. She discusses the significant 2 million barrels per day inventory draw since June, highlighting the lowest stock levels since 2017. Despite this, she reveals that 2025 forecasts are softer, prompting a reassessment of oil pricing, currently thought to be undervalued by $10. With OPEC+ dynamics and economic influences at play, Natasha provides insight on how these factors shape commodity interconnectivity and future market expectations.

Head of Global Commodities Research, Natasha Kaneva, discusses the 1.0 mbd oil deficit in 3Q, with a huge 2.4 mbd draw in crude. The podcast explores the dichotomy in oil balances, the impact on price trends, refining activities, and China's strategic stockpiling.

Natasha Kaneva, Head of Global Commodities Research, discusses China's record-high commodity imports despite economic challenges, highlighting the nation's reliance on foreign resources. She explores China's strategies for securing commodities through domestic development, overseas partnerships, and strategic stockpiles as its imports continue to grow.

Natasha Kaneva, Tracey Allen, and Gregory Shearer discuss the recent pullback in commodities and predict a 10% appreciation in the BCOM index. They touch on factors like weather-related volatility, pests, European elections, China's Third Plenum, and the Fed's rate cutting cycle. The podcast explores fluctuations in commodity prices, impact of production losses in the Black Sea region, resurgence of oil in the market, gasoline demand in the US, and outlook on gold, silver, copper, and natural gas prices.

Natasha Kaneva, Head of Global Commodities Strategy, and Gregory Shearer, Head of Base and Precious Metals Strategy, discuss the bullish outlook for gold and silver in 2024, fueled by rate cuts and decreasing US 10-year real yields. They also explore the potential upside for silver prices and the relationship between precious metals and other commodity markets, emphasizing commodities as a preferred option for hedging inflation.