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It\u2019s impossible to talk about the energy sector without mentioning Natural Gas<\/a>, which right now is on an absolute tear and breaking new records, almost daily!<\/p>\n European Natural Gas prices have been racking up double digit gains on consecutive weekly basis since mid-August.<\/p>\n<\/div>\n<\/div>\n On Friday, European Natural Gas prices surged over 10% in a single day. That\u2019s the European benchmark\u2019s second biggest daily percentage gain since Russia\u2019s invasion of Ukraine.<\/p>\n Prices spiked after workers at two of Chevron\u2019s biggest Liquefied Natural Gas plants \u2013 resumed strike action \u2013 threatening to disrupt global supplies just as the Northern Hemisphere approaches its winter heating season.<\/p>\n According to economists, if the strikes stop production at Chevron\u2019s two important facilities for roughly a month, around 10% of global LNG supply could be lost. Put another way, that\u2019s massive deal because the loss of the supply will cause a domino effect.<\/p>\n In fact, you only have to take a look at U.S Natural Gas prices, which are on track to close the session at a fresh 2023 record high \u2013 up over 7%. That\u2019s its biggest one-day percentage gain, so far this year \u2013 and we haven\u2019t even entered the winter months yet.<\/p>\n<\/div>\n<\/div>\n The unstoppable rally in the global energies has also pulled many other Commodities higher including Uranium \u2013 which is currently trading at the highest level since 2011.<\/p>\n And the rally might not stop there!<\/p>\n The higher energy prices go, the more expensive it becomes for companies to mine, produce, and transport essential Commodities \u2013 opening the door to a major squeeze in prices.<\/p>\n Since the beginning of this year, a long list of Wall Street banks from Goldman Sachs, JPMorgan to Bank of America have described commodities as their \u201cpreferred asset class over the next decade\u201d. In recent days, that chorus has once again become louder with Wall Street\u2019s biggest institutions signalling pullbacks should be viewed as buying opportunities because prices rarely stay low for long.<\/p>\nRising Energy Prices Fuel Commodities Surge, with Uranium at 12-Year Highs<\/h2>\n
Commodity Price Forecast<\/h2>\n