Commodity prices seen looking up in 2018

Commodity prices seen looking up in 2018

Commodity prices seen looking up in 2018

Oil prices are forecast to average $65 a barrel over 2018, up from an average of $53 a barrel in 2017, on strong demand from consumers and restraint by oil producers, while metals prices are expected to rise 9 per cent this year, also due to increasing demand and supply constraints, the World Bank has said.

Prices for energy commodities—which include oil, natural gas and coal—are forecast to jump 20 per cent in 2018, a 16 percentage point upward revision from October’s outlook, the World Bank said in a recent outlook. The metals index is expected to rise as a 9 per cent drop in iron ore prices is offset by increases in all base metals prices, led by nickel, which is forecast to rise 30 per cent.

Agricultural commodities, including food commodities and raw materials, are anticipated to see a price rise of over 2 per cent this year on diminished planting prospects, said a release

Farsana

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