Five Key Charts to Watch in Global Commodities This Week

September may be in its early days, but the rally in oil appears to have finally secured solid footing. Both West Texas Intermediate and Brent futures are positive on the year, having posted three straight monthly advances thanks in large part to a tightening market amid production cuts from Saudi Arabia and Russia.

Chile — host of a lithium forum on Wednesday in Santiago — has the world’s largest reserves and is the No. 2 supplier, after Australia. According to BloombergNEF, demand for the metal will be 16 times the total lithium in use today by 2040, potentially outrunning supply by more than 40%.Retail diesel costs are rapidly rising in the US much earlier than usual this year, potentially inflating the cost of farming, heating, trucking and construction.

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Five Key Charts to Watch in Global Commodity Markets This WeekAfter a late summer lull, the event calendar is starting to fill up again in the world of commodities. Singapore will host the three-day APPEC oil and energy industry conference starting Monday as well as the four-day Gastech 2023 Conference starting Tuesday. Meanwhile, natural gas investors will be focused on the Australian labor disputes that have roiled markets over the past month with work stoppages slated to begin at two Chevron Corp. facilities as soon as Thursday.
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