The October edition of the World Bank’s Commodity Markets Outlook reports that energy prices have soared in the third quarter of 2021 and are expected to remain elevated in 2022, adding to global inflationary pressures and potentially shifting economic growth to energy-exporting countries from energy-importing ones.
The report forecasts commodity prices outlook of 2022 as follows.
- Natural gas and coal: After reaching all-time highs, natural gas and coal prices are expected to decline in 2022 as demand growth slows and supply constraints ease. Natural gas prices rose by 69 percent in 2021Q3, and coal prices increased 44 percent, with some price benchmarks for both commodities reaching all-time highs.
- Crude oil: Crude oil prices are forecast to average $74/bbl in 2022, up from a projected $70/bbl in 2021.
- Metal: After rising more than 48 percent this year, metal prices are projected to decline 5 percent in 2022.
- Agricultural commodities: Agricultural prices are expected to broadly stabilize in 2022, following a 22 percent increase in 2021.
Get the full report here https://cutt.ly/NT8vjaR
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