Copper led the way to higher commodities prices, with Oil also seeing significant growth yesterday. This asset class may be seen as a possible hedge against inflation, which is a developing concern thanks to the potential for post-pandemic recovery.
Oil prices sparked above $60 a barrel on Monday, for the first time since the early days of 2020 as regions across the U.S. have recently been hit by freezing weather.
Oil rose to a high of $54.45 today as dwindling stockpiles and reviving economies raised optimism for demand returning to pre-COVID-19 levels.
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