Commodities: a year 2022 under tension


Prices could rise slightly this year if political risks do not increase.

As the concern around the noise of Russian boots on the Ukrainian border increases, it is difficult not to fear a delicate year for the energy plan. ” If we had the worst, if theRussia invaded Ukraine the barrel of oil would explode the ceiling, and there would be a shortage of gas to be expected in Europe“, anticipates the specialist in raw materials Philippe Chalmin, who published his CyclOpe report on Thursday. And, even without conflict, on gas, we should not expect, even in the medium term, at 2019 prices, especially since “the energy transition will continueadds the economist.

Excluding geopolitical tensions or major climatic events, “in stable sanitary conditions with a kind of soft landing of the Covid», «the global economic adjustment is expected to continue in 2022“. And Cyclope bets on “a return to normalfor commodity prices.

Their overall increase should not exceed 4% in 2022, against an average jump of 49%…

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