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Commodity prices see biggest weekly surge in nearly 50 years – Times of India

Commodities prolonged their large rally as Russia’s invasion of Ukraine continues to roil world markets and gasoline fears of provide crunches. (*50*) from crude and nickel to aluminum and wheat soared, as uncooked supplies stage their most beautiful weekly surge since 1974, in the course of the days of the oil disaster.

Russia’s rising isolation is choking off a serious supply of power, metals and crops, sparking fears of extended shortages and accele- score world inflation. Traders, banks and shipowners are more and more avoiding enterprise with Russia as a result of of the issue in securing funds, whereas delivery strains are shunning bookings from the area.
WTI oil jumped as a lot as 5. 7% on Friday earlier than paring good points as merchants assessed the severity of a nuclear plant assault. (*50*) are nonetheless up about 22% this week.

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