World Bank expects commodity prices to rise in 2017

27/04/2017 06:16 | Number of readings: 1

Trend Press

The World Bank forecast higher prices for industrial goods, particularly energy and minerals, in 2017 and 2018.

The bank said in a recent report on Wednesday that oil prices will hover around the level of $ 55 a barrel this year to rise to $ 60 a barrel in 2018.

As for commodity prices from natural gas and coal, the bank expects to rise 26% this year and 8% in 2018.

The report said that the rise in natural gas prices in the United States will push the price of gas globally to rise by 15% this year, while the restrictions on China's supply will push coal prices up 6%.

Prices of commodities excluding energy, such as metals, agricultural commodities and fertilizers, are expected to grow this year as the first increase in five years.

The report also predicted steel prices to grow by 16 percent, boosted by rising demand, especially from China. Jh