Five Charts Highlighting Global Market Trends

Five important charts highlight the current state of global markets. The world’s largest oilfield services companies are expected to deliver strong earnings, thanks to clients paying more to rent drilling rigs in the midst of tight crude supplies. Meanwhile, sugar prices are increasing significantly due to limited exports from India and production concerns in other key producers. Copper may also experience support as stockpiles remain near an 18-year low.

Oilfield services companies are expected to have another strong quarter due to clients paying more to rent drilling rigs in a tight crude supplies era. Baker Hughes Co. will be the first to release earnings on Wednesday, followed by Schlumberger on Friday and Halliburton early the following week. Halliburton is set to see the biggest surge in profit, with a jump of 94% from the year-ago period to $609 million.

Sugar prices are soaring due to limited exports from India and concerns about production in other key growers. This surge could increase costs for food manufacturers and keep pressure on global food inflation.

Copper may see support as stockpiles sit at an 18-year low, providing a safety net against negative surprises. Analysts predict a positive outlook in the long term, with copper rising above $10,000 per metric ton due to sluggish mine supply and additional demand from the energy transition.

LNG exports have reached a record level in the US as a terminal in Texas returned to normal operations. Flows of natural gas to liquefaction facilities along the Gulf Coast hit 14.7% of total domestic supplies last week, driven by strong demand from Europe and China.

Asian coal imports have surged well past the usual end of winter period, with China leading the charge. Seaborne shipments of the fuel reached 25 million tons in March, a record high. India is also expected to import high volumes in April ahead of the summer heat, but it remains to be seen whether China’s purchases will continue given the global economic slowdown.