Energy : Oil prices have stabilized, benefiting from a lull on the inflation front and a decline in weekly US inventories. Brent crude oil edged up to 83 dollars , compared with 79 dollars for its US counterpart. A certain wait-and-see attitude is palpable, as operators eagerly await the next OPEC+ meeting, which will have to decide whether or not to renew all or part of its production quotas. Last week, the International Energy Agency published its monthly oil report. The Agency revised downwards its forecast for oil demand growth in 2024, thus widening the gap with OPEC's far more optimistic estimates of demand dynamics.

Metals : There's no stopping the buying pressure on industrial and precious metals. The price of a tonne of copper broke through the USD 11,000 barrier in London. China, which is stepping up stimulus measures for its real estate sector, is also boosting metal prices. In addition, the Chilean Copper Commission has revised upwards its copper price estimates for 2024 and 2025. In the same vein, the International Energy Agency fears tensions on world metal supplies, pointing to insufficient investment to meet demand. As for gold, the barbarian relic reached a new all-time high of USD 2,450.

Agricultural products : In Chicago, corn prices are treading water, with a bushel of corn still trading at around 460 cents for the July 2024 contract. Wheat is a little more bullish, nibbling away at 670 cents per bushel.