Reported 4 months ago
Traders are preparing for a potentially record-breaking summer that will have a significant impact on commodities, with soaring prices expected for natural gas, power, and staple crops due to extreme weather conditions driven by climate change. The outlook includes potential supply shocks in agricultural markets, disruptions in power markets, and threats to oil markets and shipping due to severe heat, droughts, and possible hurricanes. The global economy faces risks of inflation and supply shortages, with the possibility of 2024 becoming the hottest year on record.
Source: YAHOO