Monthly Market Overview - May 2016

Commodities were on a tear during April (particularly on the last day) as markets from copper to corn to gold all exploded to the upside. As we see from the Thomson Reuters/Commodity CRB Index below, the general index has now gained 18% since its February low and is now at a five-month high. The most dramatic advance we saw last month was in crude, with each of the two oil contracts rallying by some $10/brl off their intramonth lows to finish roughly 20% higher on the month. Products were also strong, with gasoline and heating oil each getting to seven and five-month highs, respectively. Gains in natural gas were somewhat more restrained, but the complex nevertheless finished above the $2 mark basis spot and closed up for the month.

News article attributed to www.bulliondesk.com