Clyde Russell
@clydecommods.bsky.social
Asia Commodities Columnist at Reuters Open Interest, the market commentary service of Thomson Reuters. Focusing on oil, gas, metals, coal, iron ore, renewable energies and government policy.
LNG supply is poised to rise by 10% in 2026 from 2025, or about 44 million tons. This surge will swamp demand growth meaning spot prices will have to drop to tempt Asia’s price-sensitive buyers. The question is just how far will they have to fall. #LNG #energy www.reuters.com/markets/comm...
November 13, 2025 at 6:13 AM
LNG supply is poised to rise by 10% in 2026 from 2025, or about 44 million tons. This surge will swamp demand growth meaning spot prices will have to drop to tempt Asia’s price-sensitive buyers. The question is just how far will they have to fall. #LNG #energy www.reuters.com/markets/comm...
Saudi Aramco’s cut to its #crude oil prices for Asian refiners for December has been viewed as a move to gain market share amid oversupply concerns. But the cut was at the lower end of expectations and followed Aramco's pattern of responding to the market structure. www.reuters.com/markets/comm...
November 11, 2025 at 6:44 AM
Saudi Aramco’s cut to its #crude oil prices for Asian refiners for December has been viewed as a move to gain market share amid oversupply concerns. But the cut was at the lower end of expectations and followed Aramco's pattern of responding to the market structure. www.reuters.com/markets/comm...
Gold surged 173% from the low in October 2022 to the recent record high around $4,381 an ounce and while this looks mighty impressive, it fades compared to the rallies of 518% in the late seventies and 634% in the noughties. #gold #mining #commodities www.reuters.com/markets/comm...
November 6, 2025 at 5:41 AM
Gold surged 173% from the low in October 2022 to the recent record high around $4,381 an ounce and while this looks mighty impressive, it fades compared to the rallies of 518% in the late seventies and 634% in the noughties. #gold #mining #commodities www.reuters.com/markets/comm...
The trend in global LNG markets that has been in evidence so far in 2025 continued in October, with Asia imports dropping on weak China demand, but Europe arrivals rising by a bigger amount, thereby keeping spot prices robust. #LNG #natgas #energy #naturalgas www.reuters.com/markets/comm...
November 4, 2025 at 6:31 AM
The trend in global LNG markets that has been in evidence so far in 2025 continued in October, with Asia imports dropping on weak China demand, but Europe arrivals rising by a bigger amount, thereby keeping spot prices robust. #LNG #natgas #energy #naturalgas www.reuters.com/markets/comm...
The dynamic of low prices boosting imports leading to higher prices, which in turn lead to lower imports has been on display in Asia’s thermal #coal markets. Top buyers China and India are on track for lower arrivals in October after prices rallied from 4-year lows. www.reuters.com/markets/comm...
October 30, 2025 at 5:31 AM
The dynamic of low prices boosting imports leading to higher prices, which in turn lead to lower imports has been on display in Asia’s thermal #coal markets. Top buyers China and India are on track for lower arrivals in October after prices rallied from 4-year lows. www.reuters.com/markets/comm...
Building a critical mineral supply chain outside of China, and the necessity of Western government support, was the main buzz at the IMARC event this week in Sydney. Perhaps surprisingly, given the return of Donald Trump, decarbonisation also featured strongly. www.reuters.com/markets/comm...
October 23, 2025 at 12:33 AM
Building a critical mineral supply chain outside of China, and the necessity of Western government support, was the main buzz at the IMARC event this week in Sydney. Perhaps surprisingly, given the return of Donald Trump, decarbonisation also featured strongly. www.reuters.com/markets/comm...
The strength seen in China’s imports of seaborne thermal coal in August is on track to extend into September, helping prices for key Indonesian and Australian grades recover from 4-year lows. But the boost is likely to prove temporary. #coal #energy #mining www.reuters.com/markets/comm...
September 18, 2025 at 5:30 AM
The strength seen in China’s imports of seaborne thermal coal in August is on track to extend into September, helping prices for key Indonesian and Australian grades recover from 4-year lows. But the boost is likely to prove temporary. #coal #energy #mining www.reuters.com/markets/comm...
It’s too early to say it’s a definite recovery, but Asia’s imports of seaborne thermal #coal rose to a 5-month high in May, led by China and India. While there may be seasonal factors, it’s also likely that prices at 4-year lows may be encouraging some buying. #energy www.reuters.com/markets/comm...
June 6, 2025 at 6:07 AM
It’s too early to say it’s a definite recovery, but Asia’s imports of seaborne thermal #coal rose to a 5-month high in May, led by China and India. While there may be seasonal factors, it’s also likely that prices at 4-year lows may be encouraging some buying. #energy www.reuters.com/markets/comm...
While it’s only about 20% of Canada’s total #crude exports, there has been a marked shift in seaborne volumes away from the United States to China. This has happened despite Trump walking back from tariffs, showing the power of sentiment and uncertainty. #energy #oil www.reuters.com/markets/comm...
May 22, 2025 at 5:08 AM
While it’s only about 20% of Canada’s total #crude exports, there has been a marked shift in seaborne volumes away from the United States to China. This has happened despite Trump walking back from tariffs, showing the power of sentiment and uncertainty. #energy #oil www.reuters.com/markets/comm...
China has swung from dipping into #crude inventories in the first two months of the year to massively boosting them in the next two, with an April surplus of 1.89 million bpd. This gives refiners options to deal with any loss of Iranian and Russian barrels. #energy www.reuters.com/markets/comm...
May 19, 2025 at 5:30 AM
China has swung from dipping into #crude inventories in the first two months of the year to massively boosting them in the next two, with an April surplus of 1.89 million bpd. This gives refiners options to deal with any loss of Iranian and Russian barrels. #energy www.reuters.com/markets/comm...
Asia’s imports of major refined fuels like #gasoline and #diesel dropped to a 4-year low in April, with refinery maintenance and softer demand to blame. However, refining margins have held up as #crude prices have fallen faster, but this may be changing. #energy www.reuters.com/business/ene...
May 15, 2025 at 4:42 AM
Asia’s imports of major refined fuels like #gasoline and #diesel dropped to a 4-year low in April, with refinery maintenance and softer demand to blame. However, refining margins have held up as #crude prices have fallen faster, but this may be changing. #energy www.reuters.com/business/ene...
Seaborne thermal #coal prices in Asia have caught a cold from China, dropping to 4-year lows as the world’s biggest buyer saw imports slump 13.1% in the first 4 months of the year. Higher domestic output and lower coal power generation have cut import demand. #energy www.reuters.com/business/ene...
May 6, 2025 at 6:14 AM
Seaborne thermal #coal prices in Asia have caught a cold from China, dropping to 4-year lows as the world’s biggest buyer saw imports slump 13.1% in the first 4 months of the year. Higher domestic output and lower coal power generation have cut import demand. #energy www.reuters.com/business/ene...
It was something of a small reversal in #LNG markets in April, with Asia’s imports eking out a small gain on a daily basis from March, while Europe’s recent strength faded. Top buyer China stayed weak amid the fallout from the trade with the United States. #energy www.reuters.com/business/ene...
April 29, 2025 at 5:24 AM
It was something of a small reversal in #LNG markets in April, with Asia’s imports eking out a small gain on a daily basis from March, while Europe’s recent strength faded. Top buyer China stayed weak amid the fallout from the trade with the United States. #energy www.reuters.com/business/ene...
China went from drawing on #crude inventories in the first two months of 2025 to massively boosting them in March, as a surge in imports outweighed a rise in refinery runs. The surplus of available #oil in March was 1.74 million bpd, the most since June 2023. #energy www.reuters.com/markets/comm...
April 28, 2025 at 4:53 AM
China went from drawing on #crude inventories in the first two months of 2025 to massively boosting them in March, as a surge in imports outweighed a rise in refinery runs. The surplus of available #oil in March was 1.74 million bpd, the most since June 2023. #energy www.reuters.com/markets/comm...
While Donald Trump’s tariffs have sent #crude oil prices plunging, there are also fundamentals that suggest demand growth was already weak. Top-importing region Asia saw 1Q imports drop by 640k bpd, largely as a result of rising prices when cargoes were being secured. www.reuters.com/business/ene...
April 7, 2025 at 4:57 AM
While Donald Trump’s tariffs have sent #crude oil prices plunging, there are also fundamentals that suggest demand growth was already weak. Top-importing region Asia saw 1Q imports drop by 640k bpd, largely as a result of rising prices when cargoes were being secured. www.reuters.com/business/ene...
China drew on #crude stockpiles for the first time since September 2023 in the first two months of this year, as refinery processing recovery slightly but #oil imports remained weakness. But it was a small draw and most likely related to rising crude prices. #energy www.reuters.com/markets/comm...
March 17, 2025 at 6:19 AM
China drew on #crude stockpiles for the first time since September 2023 in the first two months of this year, as refinery processing recovery slightly but #oil imports remained weakness. But it was a small draw and most likely related to rising crude prices. #energy www.reuters.com/markets/comm...
It’s been a weak start for Asia’s imports of #crude, which slumped 780,000 bpd in the first 2 months of the year, largely due to ongoing weakness in China, the world’s biggest importer. Supply issues over sanctioned Russian #oil also have played a part. #OPEC #energy www.reuters.com/markets/euro...
February 27, 2025 at 6:43 AM
It’s been a weak start for Asia’s imports of #crude, which slumped 780,000 bpd in the first 2 months of the year, largely due to ongoing weakness in China, the world’s biggest importer. Supply issues over sanctioned Russian #oil also have played a part. #OPEC #energy www.reuters.com/markets/euro...
Asia’s #LNG imports are set to drop to lowest since April 2023 in February amid weaker demand from a mild winter and high spot prices caused by a surge in Europe’s demand, which is expected to rise to near record highs. #natgas #energy www.reuters.com/markets/comm...
February 24, 2025 at 5:54 AM
Asia’s #LNG imports are set to drop to lowest since April 2023 in February amid weaker demand from a mild winter and high spot prices caused by a surge in Europe’s demand, which is expected to rise to near record highs. #natgas #energy www.reuters.com/markets/comm...
While global markets are likely to adjust rapidly to China’s retaliatory tariffs on U.S. #crude and #LNG, the story for coking #coal is different, given the U.S. met 11.7% of China’s imports in 2024. Realistic alternative suppliers are limited to Australia and Canada. www.reuters.com/markets/comm...
February 17, 2025 at 6:06 AM
While global markets are likely to adjust rapidly to China’s retaliatory tariffs on U.S. #crude and #LNG, the story for coking #coal is different, given the U.S. met 11.7% of China’s imports in 2024. Realistic alternative suppliers are limited to Australia and Canada. www.reuters.com/markets/comm...
The biggest buyers of Russian #crude, India and China, are moving quickly to adapt to the new sanctions on shipping, albeit differently. China has cut seaborne imports and turned to alternative suppliers like Angola, while India has ramped up arrivals for February. www.reuters.com/markets/comm...
February 13, 2025 at 5:46 AM
The biggest buyers of Russian #crude, India and China, are moving quickly to adapt to the new sanctions on shipping, albeit differently. China has cut seaborne imports and turned to alternative suppliers like Angola, while India has ramped up arrivals for February. www.reuters.com/markets/comm...
The world’s LNG imports are set to surge to the third highest on record in January as Europe sucks cargoes away from top-buying region Asia. Market dynamics are shifting with Russia’s shipments to Europe uncertain and Donald Trump pushing U.S. #LNG. #energy #natgas www.reuters.com/business/ene...
January 28, 2025 at 5:51 AM
The world’s LNG imports are set to surge to the third highest on record in January as Europe sucks cargoes away from top-buying region Asia. Market dynamics are shifting with Russia’s shipments to Europe uncertain and Donald Trump pushing U.S. #LNG. #energy #natgas www.reuters.com/business/ene...
Much was made of the decline in China’s #steel output to a 5-year low in 2024. Less talked about was the fact that it has been within a narrow 70-million-ton range since 2019, anchored around 1 billion tons. The sector has been resilient, this may continue in 2025. www.reuters.com/markets/comm...
January 21, 2025 at 12:48 AM
Much was made of the decline in China’s #steel output to a 5-year low in 2024. Less talked about was the fact that it has been within a narrow 70-million-ton range since 2019, anchored around 1 billion tons. The sector has been resilient, this may continue in 2025. www.reuters.com/markets/comm...
China’s surplus of #crude topped 1 million bpd in 2024 as refinery processing dropped faster than imports. The large volume of extra #oil suggests refiners have options and may trim imports in coming months after the recent price spike. #energy #OPEC www.reuters.com/markets/comm...
January 20, 2025 at 2:01 AM
China’s surplus of #crude topped 1 million bpd in 2024 as refinery processing dropped faster than imports. The large volume of extra #oil suggests refiners have options and may trim imports in coming months after the recent price spike. #energy #OPEC www.reuters.com/markets/comm...
Global seaborne #ironore imports rose 3.6%, or 60 million tons, in 2024 from 2023. But China accounted for 59.1 million as weakness in Europe and Japan countered growth in the Middle East. For 2025, much depends on how well China navigates what Trump does on trade. www.reuters.com/markets/comm...
January 9, 2025 at 5:06 AM
Global seaborne #ironore imports rose 3.6%, or 60 million tons, in 2024 from 2023. But China accounted for 59.1 million as weakness in Europe and Japan countered growth in the Middle East. For 2025, much depends on how well China navigates what Trump does on trade. www.reuters.com/markets/comm...
Europe’s #LNG imports surged to an 11-month high in December amid colder weather and the impending end of Russian pipeline #gas through Ukraine. But the increase wasn’t at Asia’s expense, as its arrivals also hit the most since January. #natgas #energy www.reuters.com/markets/comm...
January 7, 2025 at 6:42 AM
Europe’s #LNG imports surged to an 11-month high in December amid colder weather and the impending end of Russian pipeline #gas through Ukraine. But the increase wasn’t at Asia’s expense, as its arrivals also hit the most since January. #natgas #energy www.reuters.com/markets/comm...