Oil prices, which rose by more than 4 percent last week, are expected to continue their upward trend.
This could affect not only the energy sector, but also metals such as copper, zinc, nickel, aluminum, gold and silver, and agricultural products such as corn, soybeans, cotton and sugar. While increases in oil prices are often reflected in other energy products, energy sources such as natural gas and coal can also be affected by these fluctuations.
These changes in oil prices can lead to higher production costs, which can push up the prices of other commodities. Moreover, the search for alternative sources of oil and demand for other commodities as a hedge against inflation may increase.
The impact of oil prices on the world economy and its impact on other commodities continues to be a closely monitored development in global markets.