2019 MID YEAR OUTLOOK | COMMODITIES
Pockets of Opportunities
- Oil supply disruption is likely to support Brent prices even if trade tensions were to escalate. Citi analysts foresee Brent prices hitting a short-term target of US$75/bbl once again, possibly overshooting towards US$78/bbl.
- Citi analysts continue to favour gold as a way to reduce overall portfolio volatility or hedge geopolitical and market tail risks, with potential for prices to average US$1,335/oz in 2019.
- Escalated US-China trade tensions have led Citi analysts to prefer bulk commodities over base metals, given that the increased odds of Chinese stimulus measures is expected to benefit demand for steel, iron ore and coking coal.
Past performance is no guarantee of future results, real results may vary. Forecasts are expressions of opinion, are not a guarantee of future results and are subject to change.
Start your Citigold relationship
Citigold is available if you maintain a minimum average monthly balance of £150,000 (or currency equivalent) across all your Citi UK accounts, including investments.
Already with Citi? Contact your relationship manager or send a secure message via Citi Online
We offer a diverse range of banking and investment services, including for those who want access to offshore investments
Just moved to the UK?
We can save you time money and hassle. If you are a foreign national in the UK, Citi's International Banking Service can help you manage your money, home and away.