Potential Frost Causing Concerns Around Coffee Supplies, Crude Oil Demand Is Expected To Rise, Palladium Price Falls Amidst Easing Concerns Around Supply And Demand
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Summary:
- Weather conditions could have an adverse effect on coffee crops.
- Expected demand for crude oil rises as supply grows tighter.
- Demand and supply concerns around Palladium are easing.
Coffee futures prices
Coffee futures prices have been falling over the past week amidst easing concerns over the possibility of potentially crop damaging frost in Brazil. Last year the frost in Brazil damaged coffee crops and caused coffee prices to soar, which is keeping the market on edge during the upcoming winter season.
Coffee Jul ‘22 Future Price Chart
WTI Crude Oil futures prices rise
As expected demand rises and supply grows weaker, the price of Crude oil rises. The new French minister said that those who are opposed to a new EU sanction on Russian oil imports could still be convinced. Further sanctions on Russian oil will tighten supplies further than they already are during a time where US demand is expected to rise as memorial day and the summer looms.
WTI Crude Oil Jul Futures Price Chart
Palladium futures prices decline in the wake of easing supply and demand concerns
Concerns around palladium supplies along with demand are easing, causing the price to fall. Global demand is expected to rise by only 3% in 2022 as covid lockdowns and continuing supply chain bottlenecks will likely delay the chip supply recovery until at least 2023, undermining car production around the world.
Palladium Jun ‘22 Futures Price Chart
Read next: Demand For Brent Crude Oil Rises, Silver Prices Rise, Improved Corn Crop Eases Supply Concerns
Sources: tradingeconomics.com, finance.yahoo.com
