Commodity prices have remained under pressure from continued dollar strength, although supply concerns in the past week have supported some agriculturals – notably wheat and coffee. US lumber prices continue to benefit from signs of economic recovery. Otherwise, OPEC’s decision to leave its target for oil production unchanged was no surprise, but did underline the prospect of an extended period of ample supply – especially with signs that US output is bottoming out too. Indeed, Brent is now back within a whisker of our end-2015 forecast of $60 per barrel.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services