| From canada.com: Scotiabank's commodity price index sprinted to a new record high for the sixth consecutive month in June, and despite recent declines it is far too early to call an end to the cycle, says analyst Patricia Mohr.
"People have been calling an end to the commodities boom for the past three years," said Ms. Mohr, commodity market specialist at Scotiabank. "I'm not in that camp."
Oil prices have led July's commodity decline, falling sharply in recent weeks from its July 3 high of $147.86 U.S. to $121.65 in midday trade Tuesday.
Nevertheless, it was the oil and gas index that led the way up in June, said Ms. Mohr, and while prices may soften in months ahead, tight supplies will keep crude above $100 a barrel....Full Article Source |