LiveWire

The world's biggest energy company started marketing its dollar denominated bonds. They will issue bonds due in three, five and 10 years, but we do not have much more details. The goal of these bonds is to finance the $75 billion in dividends that the company was planning to pay. With oil at the highest since October 2018, their profits soared but their free cash flow was still short of $18.75 billion to pay the promised dividends.

The surge of the palladium price has granted it the title of most-expensive major traded precious metals in the world. Better yet, its price might increase even further along with the demand. Palladium had hit an all-time high of $3,018 an ounce in May. Overall, the palladium market is set to be in deficit as the auto industry rebounds, unlike gold whose price might weaken back to $1,700, because of strengthening US dollar and rising yields. 

Futures in New York rose by 0.5%, going above the $70 threshold for the first time since October 2018. Crude oil stockpiles fell by 2.11 million barrels last week. With economic recoveries all around and signs of easing regarding Covid-19, the demand is expected to be sustained for a while. 

While we've seen a surging price of copper lately, some analysts are pointing to a falling trend in capex in the copper sector. Commodities have seen the year's most prolific run of form initially on the back of a resurging China, and more recently, other economies--not to forget a supply crunch from mismanaged supply chains. The stimulus is said to have turbo charged the rally alongside the EV revolution. EVs contain 5X more copper than internal combustion engines. New copper projects to continue digging out copper supply, are facing headwinds from shareholders who have now been used to large spreads. FT says, ''It can take up to 10 years to develop a new copper project, assuming all the approvals are in place. So even if the mining industry, swayed by higher prices, decides to open the purse strings now, it may already be too late to prevent large supply deficits from opening up later in the decade.''

Oil extended its decline in Asian trading on Monday, after having hit the $70 a barrel or the time since October 2018. Although prices have eased, with New York futures dropping below $69, there is great confidence that this slow down is only profit taking of some actors, and that the demand will keep rising as vaccination rates accelerates, along with an increase global mobility.