Commodities complex: Citigroup's Morse expects lower oil after short-term spike

In this episode, Ed Morse, global head of commodity research at Citigroup speaks to IGTV’s Victoria Scholar about the outlook for the commodities complex after a stellar year-and-a-half since the pandemic-driven trough last year.  Morse says there’s likely to be more differentiation between commodities going forward, and emphasises that we are not in a commodity super-cycle. To play the climate change theme, he favours aluminium and copper for wiring and nickel and cobalt for batteries. In terms of the outlook for oil, Morse expects a short-term spike, possibly to $80, but a move lower next year towards $60. Any opinion, news, research, analysis, or other information does not constitute investment or trading advice. Follow us on Twitter (https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftwitter.com%2FIGcom&data=04%7C01%7CDan.Gummer%40ig.com%7Cdf43581857ff472a75e008d960c3d242%7C4b4cca9cedaf42f38e219070c5d9d76b%7C0%7C0%7C637647216423392384%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=fPsJDeszhFyueceEExTxq0gkeLaIVT7wtkpH8SmR%2FbQ%3D&reserved=0), Instagram (https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.instagram.com%2Figcom_official%2F&data=04%7C01%7CDan.Gummer%40ig.com%7Cdf43581857ff472a75e008d960c3d242%7C4b4cca9cedaf42f38e219070c5d9d76b%7C0%7C0%7C637647216423402330%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=O8NhEWYH7gnYr2Rf%2FBpmJkntODdbrW0QZnkIHKRCniQ%3D&reserved=0) and YouTube (https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.youtube.com%2FIGcom%2Ffeatured&data=04%7C01%7CDan.Gummer%40ig.com%7Cdf43581857ff472a75e008d960c3d242%7C4b4cca9cedaf42f38e219070c5d9d76b%7C0%7C0%7C637647216423402330%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=g1tzScZw25ZDsW7NS8lm6QSpMlcLtgDUQlWdT9gChVY%3D&reserved=0)