Energy: Oil prices back on a downward trend. The minutes of the Federal Reserve's latest meeting cast a pall over black gold prices, highlighting a relatively high degree of "wait-and-see" attitude on the part of US central bankers towards raising rates. In short, there's nothing very exciting for oil consumption. Against this backdrop, the surprise increase in weekly US inventories weighed on prices. Brent crude is edging ever closer to the USD 80/barrel mark. This weakness could prompt OPEC+ to fully extend its production quotas for the remainder of the year, in order to support prices. US WTI is trading around USD 78.3.

Metals: Is the party over? The tonne of copper is catching its breath on the London Metal Exchange. After setting an all-time record above USD 11,000, the barometer of the global economy ended the week down at USD 10,324 (spot price). Rising US dollar, mixed data on Chinese demand: the planets are no longer really aligned for copper's rally to continue. Copper has risen by around 20% since the beginning of the year. As in the case of industrial metals, the rise in the dollar has weighed on the precious metals segment. The ounce of gold, which is also weighed down by rising bond yields, lost ground at USD 2,350.

Agricultural products: Wheat rallied in Chicago, and not just a little, gaining nearly 7% this week! A bushel of wheat is now back above 700 cents, its July 2023 level. Concerns about crop losses in certain producing regions, particularly the Black Sea, are supporting this trend. Still in Chicago, corn is treading water at 460 cents.