As you know, the global economic rates have been largely affected by the Russia and Ukraine war but the lockdown in China further aggravated the matter.
So, let’s discuss how prices are increasing and analyze the value of each commodity price as shown in the price charts of April 26, 2022.
1- WTI Crude Oil
According to last week’s report, Russian crude oil has shrunk to 25%. At the time of writing, West Texas Intermediate (WTI) crude oil stood at 99.746 USD per Barrel. This is with a 1.60% increase from the last 24 hours.
Despite the last turn down in the oil prices, WTI oil has significantly decreased over the last week with a 4.56%.
2- Brent Crude Oil
Crude oil’s price has fallen down in the last few days. With this downfall, currently, it stands at 103.82 USD per Barrel. This is with a 1.33% increase in the last 24 hours.
As shown in the price chart below, Brent crude oil has shown a positive price change from 108.00 USD per Barrel to 103.82 at present. Moreover, it has shown a 3.69% decrease in the price over the last 30 days.
3- Natural Gas
We have seen a large increase in the price rates of natural gas due to its high demand and supply in the commodity market. At the time of writing, it is standing at 7.040 MMBtu.
On the price chart, natural gas shows a downfall of 1.06% in the last 24 hours. If we analyze the chart further, then there has been a huge increase of 12.3% this week and 10.49% decrease over the last 7 days.
At the time of writing, the gold price is at 1907.40 USD per ounce, with a slight increase of 0.50% in the last 24 hours. In addition, the price chart has shown a 2.60% negative change in the gold’s price over the last 7 days. However, the downfall seems to be temporary and is expected to rise in the upcoming days.
Like other commodities, corn has also shown a huge price increase in the commodity market nowadays. With a current price of 813.44 USD cents per bushel, its price surged by 1.31% in the last 24 hours.
Moreover, in the price charts, a positive change of 0.35% can be observed over the past week. If we look at the price chart from the last 30 days, there is a whopping increase of 8.59% in its price.
In the end, the commodity market is flourishing rapidly due the current global events that fluctuates the price rates. Some commodities like gold and silver are going through a temporary downfall whereas others like oil and natural gas are leveling up their prices in the market.