Concerns that the uncertainties arising from the Chinese company Evengrade could negatively affect the demand for raw materials in the real estate and construction sector were among the important factors that increased the selling pressure in the commodity market last week.
The 10-year bond yield of the USA and the increase in the demand for the dollar also caused decreases.
WARNING THAT INCREASING ENERGY PRICES MANAGE COMPANIES TO STOP PRODUCTION
The world's leading metal companies also warned that rising energy prices are leading companies to stop production. Increases in export data and decreases in stocks were among the factors that increased commodity prices.
BRENT OIL AND NATURAL GAS INCREASED VALUE
Last week, Brent oil gained 3.3 percent and natural gas gained 1.8 percent.
The barrel price of Brent oil thus carried the upward trend for the fifth week in a row.
The more-than-expected decline in US commercial crude oil stocks supported prices upwards, with the perception of recovery in demand. The fact that the oil production platforms in the Gulf of Mexico could not reach full capacity production after the southern coasts of the USA were under the influence of tropical storms also supported the rise in prices.
ELECTRICAL COMPANIES CAN USE OIL INSTEAD OF GAS FOR PRODUCTION
Stating that the upward movement in oil prices is supported by the record increase in natural gas prices, experts emphasize that electricity companies may use oil instead of gas for production due to the problems experienced in gas supply in case of cold winter months.
COMMODITIES THAT LOSE VALUE
Last week, platinum gained 4.5 percent, aluminum 1.8 percent, zinc 0.2 percent, palladium 2.2 percent, lead 2.7 percent, nickel 3.7 percent and gold 0.2 percent.
Silver and copper prices among commodities followed a horizontal course.
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