Commodities Barely Weather The COVID Storm

Posted by Tom Kool

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It’s been a mixed bag for commodities, and it’s mostly been negative, with oil and gas and agriculture taking huge hits from the pandemic, and gold only humbly rallying on its safe haven laurels, while battery metals can’t catch a break despite production shut-ins.

Overall, the month ended on a sour note, more than anything dragged down by West Texas Intermediate (WTI) oil prices going into negative territory briefly. For oil, it’s about crippling demand amid a major supply glut that has everyone scrambling for storage, while for agriculture, it’s about major supply chain disruptions. CLICK for complete article