It’s been a stellar year for commodities as geopolitical turmoil and the pandemic have sparked a global supply crunch in industrial, energy and agricultural commodities. But whilst higher industrial commodity prices are a headache for manufacturers and the astronomical jump in food prices is worrisome, it is energy prices that are causing the most pain, especially for policymakers. However, there finally seems to be some reprieve as oil prices have pulled back substantially from this month’s peaks, threatening the upward formation that started in December. So is this just another dramatic correction, or is the tide ... (full story)