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Weekly Winners and Losers
It was more of the same last week — energy wagging the dog, dragging the entire commodity complex along for the ride.
Crude led the charge — WTI up +14.3% on the week to $94.40, with Brent holding north of triple digits at $105.30, up +16.5%.
Markets remain focused on the risk that the Strait of Hormuz disruption is prolonged — and what that means for global energy flows.
Heating oil moved in similar fashion, up 14.4% on the week and nearly 86% year to date.
Volatility has pushed to extremes as markets bob and weave around ceasefire headlines.
Strength in energy markets pushed the Goldman Sachs Commodity Index up 7.3% on the week, closing at 728.66 on Friday.
While we’d all love to think ag is behind the move — it’s not.
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