Commodities Soar: Index at 8-year high | Editorji
  1. home
  2. > business
  3. > Commodities Soar: Index at 8-year high
replay trump newslist
up NEXT IN 5 SECONDS sports newslist
tap to unmute

Commodities Soar: Index at 8-year high

Feb 23, 2021 10:34 IST

The commodity space continued to hog the spotlight with the Bloomberg Commodity Index rising the most since March 2013. The Index which tracks over 23 raw materials jumped to a 8-year high backed by a rally in oil and copper.

Crude prices which have already rallied 20% in 2021 got another booster from Goldman Sachs that expects another 20% rise from here. The global brokerage expects oil prices to rise to $75 per barrel before September this year. 

All eyes now shift onto the OPEC meeting on March 4 with hopes of the global supply levels to be raised. OPEC had slashed global production 10 months ago keeping back 7% of global supply.


Wipro's $1.45 bn UK acquisition

Mar 04, 2021 23:40 IST