DCSIMG

Bjørnar Tonhaugen

Bjørnar Tonhaugen is Nordea Markets' Global Commodity Strategist. Based in Oslo, he is responsible for Nordea’s commodity price forecasts and his main focus is on the oil/energy and metals markets.

Prior to joining Nordea, Bjørnar worked as product specialist and energy analyst for Orkla Finans and Orkla Finans Commodity Trading.


New Financial Forecasts

Here follows our monthly financial forecast update. We have lifted the near-term US rates forecasts, while keeping the EUR rates forecasts unchanged, and we have made minor adjustments to our forecasts for EURNOK, USDJPY, EURCHF and USDCNY. We also take the opportunity to summarise the recent changes to our Riksbank and EURSEK forecasts, while we have kept all Danish forecasts unchanged despite the surprise (deposit) rate hike from Nationalbanken last week.

Shipping Essentials Weekly

Benchmark oil prices ended slightly lower week-on-week, but due to the escalation of the Ukraine crisis over the weekend, oil prices opened sharply higher (+2%) this morning

Metals Weekly Chartpack

Please find our weekly metals market chartpack covering week 9 of 2014 here.

Shipping Essentials Weekly

Benchmark oil prices strengthened slightly week-on-week with LSFO in North-West Europe continuing to see most strength on tight prompt supply and interest from the Americas. Brent crude prices have remained supported by ongoing supply disruptions...

New Financial Forecasts

We have updated our financial forecasts

Metals Weekly Chartpack

Please find our weekly metals market chartpack covering week 8 of 2014 here.

Shipping Essentials Weekly

The physical cape market saw some activity in the Pacific but the Atlantic remained quiet resulting in a relatively flat index. The paper market started the week well bid but...

Metals Weekly Chartpack

Please find our weekly metals market chartpack covering week 7 of 2014 here.

Shipping Essentials Weekly

With holidays in the East it was a quiet start to last week with little activity in the physical market and FFAs thin. Activity picked up mid-week, but...

Shipping Essentials Weekly

Brent crude prices struggled to find direction last week, but ended the week on a soft note. The weakness has continued so far...

Metals Weekly Chartpack

Please find our weekly metals market chartpack covering week 5 of 2014 here.

Shipping Essentials Weekly

The cape market came under further pressure last week as especially the Atlantic is struggling. As a result, prompt paper contracts saw sharp losses...

Metals Weekly

Please find our weekly metals market chartpack covering week 3 of 2014 here.

New Financial Forecasts

We have updated our financial forecasts

Shipping Essentials Weekly

Events and key figures with the potential to move markets this week EURUSD turned to the downside Weak start of the year for Brent crude

Metals Weekly

Please find our weekly metals market chartpack for week 1 of 2014 here.

Metals Weekly

Please find our weekly metals market chartpack for week 51, 2013 here