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Commodities

Market Weekly Update 07/06/2021 to 12/06/2021

OIL Brent crude continued its upward trend last week. It ended the week at a price of $69.3 per barrel, representing a 4.6% increase W-o-W.  Oil prices are expected to continue in this trend as supply remains constrained and demand recovers.  METALS Metals were generally

Goldman proclaims the dawn of a new commodity supercycle

Will COVID-19 kick-start a new commodities super cycle? Goldman Sachs thinks so. While last year’s strong rebound in many commodity prices might be viewed as a “V-shaped vaccine recovery,” the bank contends it is just “the beginning of a much longer structural bull market for

Oil falls on mounting COVID-19 cases, supply concerns

Oil edged lower on Friday, falling more than 2% on the week as COVID-19 cases surged globally and oil supply is set to rise in coming weeks. Brent crude futures LCOc1 settled at $41.92 a barrel, down 2 cents, while U.S. West Texas Intermediate (WTI) crude futures CLc1 lost

Oil recovery waits for international flying to return

Jet fuel consumption remains the hardest hit section of the global oil market as passengers avoid air travel as a result of the pandemic and government travel restrictions. The specific problems of the jet market explain why refinery margins for closely related distillates such as