| Commodities Supercycle: In the past decade, the rise in commodity prices have undone the decline of the previous century, rising to levels not seen since the early 1900s. Despite current declines, research by McKinsey Global Institute shows that demand for energy, food, metals, and water should rise inexorably as 3bn new middle-class consumers emerge in the next two decades. The global car fleet, for example, is expected almost to double, to 1.7bn, by 2030.
The plunge in the price of oil has got the greatest attention globally but several other key commodities have also been falling. Brent crude, the international benchmark and US oil, known as West Texas Intermediate (WTI), lost more than half of their value since mid-2014 and on Monday WTI fell below $50 a barrel for the first time since April 2009, before finishing the day at $50.05...............................................Full Article: Source
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