Tired of Stock Market Whiplash? These Commodities Should Be on Your Watch List

Commodities took a kicking in 2018 -- with deep losses in everything from oil and copper to coffee and sugar -- so what's in store for the 12 months to come? Here are the prospects and pitfalls for some of the top raw materials, and it's a reasonably positive picture.OilThe standout feature in commodity markets last quarter was crude's swoon from four-year high into a bear market. The drivers of the reversal were record U.S. shale output, a clutch of sanctions waivers on Iranian flows, and a supply cut from OPEC+ deemed by some as too little. Concern about a deteriorating global economic outlook gave bears further ammunition. After that drama, prices may recover, with supply risks underappreciated.In 2019, watch for more losses in crisis-hit Venezuela as supply risks tumbling below 1 million barrels a day. On top of that, waivers granted by the U.S. on Iranian cargoes are temporary, and not all may be renewed in May. Lastly, don't underestimate the resolve in Saudi Arabia to make the cuts stick. OPEC's next meeting is in April, and prices may have regained some ground by then. The median Brent forecast tracked by Bloomberg is $68, compared with about $56 at present.  Continue reading...