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Anemic Chinese Growth Weighs on Commodities
Over the past two years, the Russo-Ukrainian war has disrupted grain supplies from the Black Sea region and rerouted global energy shipments as Europe largely stopped buying Russian oil and natural gas. In addition, OPEC+ has cut oil production by 3.6 million barrels per day, and more recently, the Israel-Hamas conflict has heightened uncertainty in oil markets while Houthi attacks on vessels have diverted some shipping traffic from the Red Sea. Despite these developments and the rise in geopolitical tension, prices for key commodities such as crude oil, corn, wheat and soybeans are at or lower than levels before ... (full story)