Almost all commodity prices recovered in the third quarter of 2020 following steep declines earlier in the year due to the Coronavirus (COVID-19) pandemic. Crude oil prices have doubled since their April low, supported by sharp oil supply cuts by OPEC, but prices remain one-third lower than their pre-pandemic levels. Metal prices recovered rapidly in response to a faster-than-expected pick up in China’s industrial activity. Some food prices have also...
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