What to Watch in Commodities: Oil, El Nino, Arcelor, Trade, ADM
- ADM, Bunge seen reporting higher earnings, despite trade war
- Bloomberg releases monthly OPEC oil production estimate
Commodity investors have a mass of information to deal with this week: earnings season is in full flow; the oil market is tracking OPEC’s decision to add supplies; and there are likely to be developments on global trade spats, especially on China. Raw materials are set to close out July with another loss after retreating in June. Let’s see what August brings.
Among the highlights, tanker-tracking figures will give the first full month of data since OPEC’s decision to add more barrels, and with weather woes dominating the news there’s a key forecast on the outlook for an El Nino. Among top companies reporting, we have a focus on ArcelorMittal, as well as Archer-Daniels-Midland Co. and Bunge Ltd. Investors will also watch for earnings from BP Plc and Rio Tinto Group, and output data from Glencore Plc.