Commodity prices were mostly firm last month, helped by the general improvement in investor sentiment and, in the case of crude oil, an additional premium due to tensions between the West and Iran. But the markets seem to be banking both on a strong global economic recovery and further monetary easing, as well as complacent over the risks of a renewed escalation of the crisis in the euro-zone. Oil prices are doubly vulnerable if Iran fears fade.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.