Oil also higher for longer

There wasn’t a clear trend in commodity prices this week. Natural gas prices in the US and Europe were among the largest risers, though those increases appear to have been driven by dips in regional output in both, and cold weather forecasts in the former. Meanwhile, real US Treasury yields surged earlier in the week as expectations of “higher-for-longer” interest rates became further entrenched in the US, weighing on precious metals prices.