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>Brent oil futures trading in line with fair value, with bullish bias in options, as volume of bullish calls hit record high</li><li>Ongoing conflict between Israel and Iran raising concerns about further escalation, with recent attacks and strikes indicating potential for heightened tensions</li><li>Global oil inventories are significantly lower than in previous years, potentially impacting market dynamics and prices as demand and inventory levels play a key role</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Brent oil futures trading in line with fair value, with bullish bias in options, as volume of bullish calls hit record highOngoing conflict between Israel and Iran raising concerns about further escalation, with recent attacks and strikes indicating potential for heightened tensionsGlobal oil inventories are significantly lower than in previous years, potentially impacting market dynamics and prices as demand and inventory levels play a key roleThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: This time, it feels different

<ul><li>Commodity markets are down despite stimulatory measures from China, with oil prices falling due to increased supply from Libya and OPEC plus alliance</li><li>China's demand outlook for oil remains steady, with forecasts for oil demand growth unchanged despite stimulus measures</li><li>Base metals, particularly copper, have seen a price increase due to stronger demand impulses from China, with bullish outlook and potential upside risks for the first half of 2025</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Commodity markets are down despite stimulatory measures from China, with oil prices falling due to increased supply from Libya and OPEC plus allianceChina's demand outlook for oil remains steady, with forecasts for oil demand growth unchanged despite stimulus measuresBase metals, particularly copper, have seen a price increase due to stronger demand impulses from China, with bullish outlook and potential upside risks for the first half of 2025This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global FX and Commodities: Everything Everywhere All at once

<ul><li>Expectations for tightening boscrudent liquids balances leading to stock draws</li><li>Historic anomaly of large surplus in products and deficit in crude</li><li>Uncertainty in market assessment of demand due to global economic moderation and potential recession</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Expectations for tightening boscrudent liquids balances leading to stock drawsHistoric anomaly of large surplus in products and deficit in crudeUncertainty in market assessment of demand due to global economic moderation and potential recessionThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: A Dichotomy in the Oil Balance

<ul><li>Global oil prices are on the rise, with Brent oil projected to average $84 in the third quarter and potentially reaching $90 by August or September</li><li>Demand for oil products is strong, especially in the US market, with record summer travel expected to drive up consumption</li><li>Chinese demand for oil is also increasing, with the country adding to its strategic reserves and seeing a surge in crude imports</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global oil prices are on the rise, with Brent oil projected to average $84 in the third quarter and potentially reaching $90 by August or SeptemberDemand for oil products is strong, especially in the US market, with record summer travel expected to drive up consumptionChinese demand for oil is also increasing, with the country adding to its strategic reserves and seeing a surge in crude importsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: If You Need Oil This Summer, Who You Gonna Call?

<ul><li>Russia has pledged to cut oil output to 9 million barrels per day by June, potentially causing Brent oil prices to rise to $90 in April and above $100 in the future</li><li>The US has the option to release up to 60 million barrels of crude oil from the Strategic Petroleum Reserve to mitigate the impact of high oil prices</li><li>SPR inventories currently cover 188 days of net import demand for crude oil, suggesting that the reserve may not need to be as large as it once was and could be used for funding infrastructure and federal spending priorities</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Russia has pledged to cut oil output to 9 million barrels per day by June, potentially causing Brent oil prices to rise to $90 in April and above $100 in the futureThe US has the option to release up to 60 million barrels of crude oil from the Strategic Petroleum Reserve to mitigate the impact of high oil pricesSPR inventories currently cover 188 days of net import demand for crude oil, suggesting that the reserve may not need to be as large as it once was and could be used for funding infrastructure and federal spending prioritiesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Commodities Focus: Without Counter-Measures, Oil Headed to $100

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: This time, it feels different

Overall, the oil market is currently stable but facing potential risks from geopolitical tensions and supply concerns, with options trading showing...

At Any Rate

Global FX and Commodities: Everything Everywhere All at once

The bazooka stimulus in China has impacted oil, ag, and gas markets, with crude oil prices dropping due to expectations of increased supply, while...

At Any Rate

Global Commodities: A Dichotomy in the Oil Balance

Oil prices are expected to decrease in the fourth quarter of 2025 due to tightening balances, with global oil demand growth projected at 1.4...

At Any Rate

Global Commodities: If You Need Oil This Summer, Who You Gonna Call?

High oil prices, tight market conditions, and strong global demand expected to drive prices up to $90 by August or September, with China increasing...

At Any Rate

Commodities Focus: Without Counter-Measures, Oil Headed to $100

Russia has pledged to deepen its oil output cut, which may lead to increased oil prices and potentially reach $200 by September, with the US...

At Any Rate

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