Summary:
- Natural Gas and RBOB gasoline prices are expected to increase even more throughout 2022.
- Increasing energy prices raise concerns around the future of clean-energy.
- Increasing costs of metals are driving the price of renewable energy up.
Natural Gas Futures prices are expected to increase further this year.
Over the past week the price of Natural Gas has dipped and then recovered. Since the market opened this morning the price of this commodity has fallen by almost 2.6%. On Wednesday the World Bank released a statement indicating that they expected energy prices to increase by a further 50% throughout 2022 before easing in 2023 and 2024. The prices of most commodities are dependent on what happens with the Russia-Ukraine conflict, which has already shocked the commodity market by altering trading patterns, production and consumption.
NGAS Futures Price Chart
RBOB Gasoline prices are expected to increase in 2022.
Since the market opened this morning, the price of RBOB Gasoline has fallen by almost 0.7% and has seen varied prices over the past week. Since RBOB Gasoline forms part of energy commodities, the price is expected to increase according to the World Bank's forecast above. The increase in energy prices has raised concerns that the transition to clean-energy will be delayed, as many countries have announced plans to increase their production of fossil fuels.
RBOB Gasoline Futures Price Chart
Copper Futures prices are expected to increase in 2022.
According to the article of commodity markets outlook released by the World Bank, the price of metals are expected to increase almost 20% in 2022. Should the war between Russia and the Ukraine persist, price forecasts could change even more. The price of Copper will also be affected by the changing trade patterns being more expensive, in addition the higher metal prices are pushing up the cost of renewable energy in general. However, since the market opened this morning the price of copper has fallen by 0.83%, this has been the general price trend of the commodity over the past week, perhaps a result of investor sentiment and uncertainties around China's lockdowns.
Copper Futures Price Chart
Sources: worldbank.org, finance.yahoo.com
