Article last updated 10 February 2026.
Our February edition features three stories — read online versions via the links below or download a PDF with all three articles.
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In this edition:
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Snapshot
The cost per barrel of producing Venezuela’s untapped oil. Most of it is heavy crude, which is more expensive to extract and sells at a discount to Brent crude. With Brent priced at around $64, production costs are already higher than the likely selling price. Combined with political constraints, this makes a significant increase in Venezuelan oil output unlikely, despite interest from the US.
US annual wage growth in the fourth quarter of 2025
UK annual GDP growth in the three months to November 2025
Eurozone inflation in January 2026
Rise in copper price during 2025
Equities
Total return in local currencies (1 Feb 2021 = 100)
Government bonds
Difference between 2 and 10–year yields
Equities
Total return in local currencies (1 Feb 2021 = 100)
Commodities
Oil, gold and silver prices
