Industry - Commodity Price Forecasts - Commodity Price Forecasts
The Russian invasion of Ukraine has caused commodity prices to surge, to all-time highs in some cases. Russia is a major exporter of many commodities, including energy, metals and grain, and concerns about supply disruptions have spooked markets. Precious metals have benefited from safe-haven and inflation-hedge buying. Tight market conditions across a number of commodities meant prices would always be especially sensitive to the prospect of weaker supply. Prices are likely to remain highly volatile in the short term given the rapidly changing and uncertain situation. There is therefore a high degree of risk attached to our baseline forecasts.
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