The Epoch Times by Reuters
SINGAPORE—Commodity markets extended their bull runs on Thursday, with aluminium, coal and palm oil all hitting new records while crude oil and wheat scaled multi-year highs as Russia’s invasion of Ukraine disrupted global raw material flows.
Russia’s stature as a top supplier in oil, gas, metals, grain and shipping markets has meant that the harsh sanctions applied to several Russian entities following Moscow’s invasion of Ukraine has upended several critical resource supply chains.
Aluminium prices on the London Metal Exchange have gained 30 percent this year, while U.S. wheat futures have surged 25 percent this week alone as markets attempt to price in the impact of a potential loss of Russian supplies if the international community rolls out additional punitive measures against Moscow…
