Reuters
Coal, gas lead 2022 commodities rally; recession clouds new year
Coal and natural gas markets ended 2022 with strong gains on Friday after a global energy crisis triggered by the Russia-Ukraine war stoked prices, and tighter supplies expected in 2023 could fuel more gains. Industrial metals, iron ore and rubber finished in negative territory, pushed down in 2022 by China’s strict zero-COVID policy and fears of a world recession. Agricultural markets, including grains and palm oil, jumped to all-time highs in March on adverse weather and pandemic-related supply disruptions, triggering higher food prices and warnings of famine, though those commodities gave up some of their gains in the second half.
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