UNCERTAINTY Having spent the week S&P Global’s excellent #CERAweek, we all asked each other what is the theme? That itself is instructive: My theme would be Uncertainty. What’s Noise, what’s signal? The energy markets are grappling with huge uncertainty. Drill! But what about my steel pipes? What about OPEC? Decarbonization? Will the IRA be repealed? The general view is economics and fundamentals are the signals, policy and politics are the noise when it comes to investment. The fundamentals arent bullish for #commodities but the volatility and fragmentation of markets are for trading. It’s worth noting, despite the protests outside, inside there was a high temp of talks on the reality of #climate change and the threat it poses. #energy
Reality can’t be denied.
Agree, but at least in regards to steel and aluminum (232), policy has been driving economics.
Executive Director, Enco Insights & HC Group. Host of The HC Commodities Podcast
1wPS …To help navigate that uncertainty- whether investing, building or litigating… use Enco Insights for advisors and experts that have the knowledge and network needed.