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War in Ukraine to continue to dictate prices for now

Commodity prices remain extremely volatile owing to the uncertainty stemming from the ongoing war in Ukraine, and we doubt that they will find a clear direction anytime soon. However, assuming the war-related uncertainty begins to ease somewhat in the months ahead, we maintain that a pick-up in supply will drag many commodity prices lower by year-end. Drop-In: The fallout from Europe’s energy war (6th April, 10:00 EDT/15:00 BST): Join our Europe and Commodities teams for a special briefing on Wednesday, 6th April about the structure of global energy markets and the outlook for the European and Russian economies. Register here

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