More Expensive Coffee!? Weather Conditions In South America Can Limit Crops. (WTI) Crude Oil Price Recovering, Palladium Prices Rise Amidst Concerns Around Supply

More Expensive Coffee!? Weather Conditions In South America Can Limit Crops. (WTI) Crude Oil Price Recovering, Palladium Prices Rise Amidst Concerns Around Supply

Summary:

  • With China likely to ease lockdowns and the Russian oil embargo, WTI Crude prices are rising.
  • Coffee futures prices are rising again amidst concerns around supply.
  • Concerns around supply heighten for Palladium.

 

WTI Crude Oil recovering

WTI Crude Oil futures have been recovering this week after the poor market performance last week. Going forward, it is likely that the market will see oil prices go up, therefore raising gas prices as well. Despite the lockdowns in China suppressing oil demand, the possibility of the lockdowns being lifted the market will see the demand rise. The Russian oil embargo is likely to get tighter, which is heightening investors' concerns around the supply of oil, which is also pushing up the price.

U.S President Joe Biden's attempt at reducing prices through releasing some of the U.S Crude Reserves into the market has not made a very noticeable impact so far, the release is expected to last until November.

WTI Crude Oil Futures Recovering, Concerns Around Coffee Supplies Heighten, Palladium Prices Rise Amidst Concerns Around Supply  - 1 WTI Crude Oil Futures Price Chart

Read next: (XAUUD) Gold Regains Investor Interest As The Dollar Weakens, NGAS Prices Going Up, Cotton Price Rising Along With Concerns Around Supply  

Coffee futures recovering amidst supply concerns

Coffee futures prices are recovering in the wake of the poor market performance of last week. The prices are rising again over concerns around weather conditions in South America as the coffee farmers in Brazil are expecting frost in the coming days. The adverse weather conditions could affect the coffee crop and lead to a poor harvest in the future. There are also expectations on smaller supplies from Columbia. With concerns around coffee supplies across the board, the price of futures is rising.

WTI Crude Oil Futures Recovering, Concerns Around Coffee Supplies Heighten, Palladium Prices Rise Amidst Concerns Around Supply  - 2

Coffee Jul ‘22 Futures Price Chart

Concerns around Palladium supply are pushing up the futures prices

Palladium futures rose above $2000, it is possible that the market could continue to see this growth as the reduced supply from Russia continues and a deficit supply from South African suppliers heighten concerns. South African producers are facing operational challenges, causing their output to decrease.

WTI Crude Oil Futures Recovering, Concerns Around Coffee Supplies Heighten, Palladium Prices Rise Amidst Concerns Around Supply  - 3

Palladium Jun ‘22 Futures Price Chart

Read next: Commodities Prices Recovering After Poor Performance Early Last Week - Brent Crude Oil Prices, Silver Prices Fall As Investors Shy Away From Precious Metals & Corn 

Sources: tradingeconomics.com, finance.yahoo.com

 

Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.