Oil prices rose to top $100 a barrel Thursday after the IEA warned a coming fall in Russian supply won't make up for an expected drop in demand.
With the Federal Reserve's first interest-rate rise in four years out of the way, stocks saw some buying, but the Russia-Ukraine war kept gains in check.
The fall in nickel suggests a dramatic short squeeze is easing but the trading suspension is an embarrassing setback for the London Metal Exchange.
Russia-Ukraine talks have brightened the prospect of a ceasefire agreement and could pave the way for a deeper pullback in oil, an analyst said.
Global shares head for a fifth straight week of declines, as Russia's war in Ukraine and red-hot inflation readings raise the specter of stagflation.
If Guangda keeps his short bet, it could lead to continued high volatility in the commodity, which initially spiked amid Russia's invasion of Ukraine.
The surge in wheat prices sets Teucrium up for a big windfall if assets in the ETF stay as elevated as they are now.
The war waged against Ukraine by Russia is a low earnings risk for US corporates, according to the investment bank.
"We favor production increases and will be encouraging OPEC to consider higher production levels," the UAE ambassador to Washington said Wednesday.
"Given enough money and time, I can create infinite of any" commodity, including gold, real estate, and luxury watches, said Michael Saylor.
From everyday goods like gas and wheat to industrial staples like nickel and fertilizer, key commodities are feeling the heat from Russia's attacks.
Nickel prices hit 2007 highs in surpassing $46,000 a tonne in London, and the jump of more than $17,000 marked the biggest one-day dollar gain ever.
"I got the supply shock wrong. That said, the accelerated shift toward electric transportation will destroy oil consumption at the margin," Wood said.
"We're going to be looking at a lot of demand destruction and substitution into innovation," Ark Invest CEO Wood said about Russia's war with Ukraine.
As oil rises to levels last seen in 2008, economists warn the world could be headed for "stagflation" — a term that sends shivers down investors' spines.
Calls for tougher sanctions on Russia, the world's top lumber exporter, come as prices are 15% below their peak and may soon get more volatile.
Commodity prices have seen their strongest start to any year since 1915, says Bank of America.
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