Commodities

Last week and especially Friday was all about the surge in commodity prices courtesy of weakness in the $US and ongoing hopes that China might finally reopen the country – I heard an interesting theory from a well-respected doctor on the weekend while watching kids’ sport, he said the China Covid Policy stems from the fact that their vaccines simply don’t work, food for thought as we take our alternatives for granted. On Friday alone crude oil popped over +7% scaling levels not seen since the first week of September.

• We continue to see crude oil testing the $US95-100 region into Christmas – not far now!