$Micro WTI Crude Oil - main 2304(MCLmain)$ Considering how strong energy prices ended the previous week, this was just a horrible week. Red across the board.
WTI needs to hold the $74 area or there is a high chance it goes below $70. A lot will depend on tmr's NFP numbers and how the market reacts, but as of now, futures look bad.
Most food and energy-related commodities are down significantly y/y.
Commodity price changes over the last year...
Sugar: +11%
US CPI: +6.4%
Gold: -8%
Soybeans: -10%
Copper: -13%
Gasoline: -17%
Corn: -19%
Heating Oil: -19%
Coffee: -22%
Silver: -23%
Brent Crude: -25%
Zinc: -26%
WTI Crude: -29%
Cotton: -30%
Wheat: -36%
Natural Gas: -45%
Lumber: -61%
Grains and Livestock futures have been mostly tanking YTD.
https://twitter.com/Gugo907/status/1634286336722231296
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