How will Middle East conflict impact commodities?

AI Summary

The ongoing conflict in the Middle East is expected to keep commodities' volatility high, with significant price fluctuations noted in oil and gold. Current oil prices show a steep increase and the market is responding to geopolitical tensions.

Volatility in commodities is likely stay elevated in the near term. The price of Brent crude hit a four-year high of USD 126/bbl last week, and is now trading around USD 108/bbl at the time of writing. Gold prices are currently around 15% below their all-time closing high in January, with higher rate expectations since ...