Dukascopy Daily Forex Overview

Yesterday, commodities jumped higher on concerns that the tensions between Russia and the West could disrupt energy supply. At the same time, the US Energy Information Administration repeated its forecast that oil prices would trade in a 120-130 USD/barrel range for the rest of the year, as it warned that Saudi Arabia could cut back its recent rise in output to contain any further weakness in crude prices. Oil prices surged more than 5 USD higher to above the 120 USD/barrel level and the overall CRB commodity index soared more than 3% higher.

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