Reuters with outlooks from Goldman Sachs:
- Says forecasts S&P GSCI total returns of -8 pct in 3 months, -4 pct in 6 months and -1 pct in 12 months
- Says maintains outlook for $45/bbl WTI for the year with Brent at $50/bbl
- Sees oil oversupply as continuing well into next year before rebalancing in Q4 of 2016
- Says in 2016, a slowdown in associated US natural gas production along with strong, broad-based demand growth will provide enough of a catalyst for prices to increase to $2.85/mmbtu on average
- "We continue to expect that copper prices will fall to $4,800/t by year-end, and to $4,500/t year-end 2016"
- "Our gold forecasts remain $1,100/oz in 3 months, $1,050/oz in 6 months and $1,000/oz in 12 months"
- Expects iron ore prices to decline over its forecast period down to $44/t next year and $40/t in 2017
- Says need for lower commodity prices for even longer is sustained due to insufficient supply adjustments and declining demand; keeps commodities underweight for the next 12 months