- Prices of both crude oil benchmarks have remained nearly stable in the last week.
- Gold logged substantial weekly gains of 1.22% on inflationary bets and economic growth worries.
- Prices of copper, aluminium, and iron ore have tumbled more than 2% in the last week.
Commodities have witnessed a subdued demand in the last week amid lockdowns in China. In the near term, the lockdowns have weighed on both metals and energy consumption.
In the energy domain, prices of both crude oil benchmarks remained nearly stable. Benchmark Brent crude oil futures recorded a marginal weekly gain of 0.38% while WTI crude oil futures logged a weekly dip of 0.12%. However, both crude oil benchmarks exchanged hands for over US$120/bbl on Friday. Prices remain steady due to slow demand from China as the country battles with rising COVID-19 cases.