Why Commodity Prices Are Likely to Fall Further
Real interest rates appear to be on a firm upward trend, because nominal interest rates will rise and inflation will fall. Together with decelerating global growth, that could mean that the recent decline in the real prices of oil, minerals, and agricultural products will persist.
https://prosyn.org/XsdBaja
CAMBRIDGE – Big movements in the prices of oil, minerals, and agricultural commodities have been among the most salient economic developments of the past couple of years. The sharp rise in commodity prices for much of this period was virtually impossible to miss. A barrel of Brent crude that sold for $20 in April 2020, during the first wave of the COVID-19 pandemic, fetched a peak of $122 in March 2022, just after Russia invaded Ukraine.