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Signs of Life in Global Resources
Geopolitical conflict and the specter of ongoing weakness in the Chinese economy continued to have an outsized impact on commodity prices for most of the quarter. Persistent inflationary pressure and a lack of clarity of U.S. rate policy also swayed investor sentiment. With the exception of Oil & Gas, many resource sectors actually struggled for the first two months of the year, before finally exhibiting some signs of life by mid-to-late March (most notably, copper). Oil & Gas Oil demand is expected to reach an all-time record high in 2024. Demand growth still projects to be strong as well, reverting to ... (full story)