This year of 2019 has been pretty much ups and downs for almost all the aspects of international affairs and this is common to all sectors from stocks to commodities to tech to housing no sector has been left untouched by this changing trend of the world in 2019 which has been seen as the foundation for the major turnaround of the century in the year 2020 which is expected to bring some more major changes. The commodity market has been troubled in 2019, and the market has not gained much.
The major commodities this year were oil and metals, which have constantly been changing even if the world politics change, and even so, they make a statement about something. The oil commodity has taken a serious hit as the markets have been seeing major changes in the supply and demand chain, which is a very important aspect of commodity trading. It all started with the United States claiming it was enough to supply the world oil, and this has also changed the outlook of the OPEC nation, which are crucial to the supply of the oil commodity. Saudi being attacked has lowered the exports from them hence changing the supply chain. Metals have faced a similar fate as the demand in China, and the United States has fallen, and the supply has also been affected by changes in Chile and other nations providing metal commodities.
So let’s see what 2020 has in store for the commodities we are expecting the oil commodity will be the most demanded commodity in 2020, so let’s see how this works out.
Tags : Commodities market, oil and metals, ,