Why commodity prices are likely to fall further

CAMBRIDGE: Big movements in the prices of oil, minerals and agricultural commodities have been amongst the most salient economic developments of the past couple of years.

The sharp rise in commodity prices for much of this period was virtually impossible to miss. A barrel of Brent crude that sold for $20 in April 2020, during the first wave of the COVID-19 pandemic, fetched a peak of $122 in March 2022, just after Russia invaded Ukraine. Oil was not the only commodity to experience a price surge.