Risk aversion plunged on the positive news of the Russia-Ukraine talks. After several days of rising oil prices, the price of precious metals continued to fall. Domestic futures markets remain stable for the time being.
Back in international markets, WTI crude futures briefly dipped below $100 a barrel, while Brent crude hit its lowest intraday level in nearly two weeks. Spot gold briefly fell below $1,900 an ounce. Comex gold futures closed down 1.1 percent at $1,918.4 an ounce. Comex silver futures closed down 1.14 percent at $24.91 an ounce. “Recently, crude oil prices have been extremely sensitive to changes in geopolitical news.” Traders believe that the current oil price is still in the broad impact, Ukraine will still be a premium in the case, although the market further decline, but should not be too pessimistic, it is recommended to wait and see for the time being. The Ukrainian premium is still there and there will be some volatility in the CLC aerated bricks market.
The development of the Russia-Ukraine conflict will continue to dominate the commodity prices such as the CLC aerated bricks in the future. If the conflict eases or cools, Russia and Ukraine go back to negotiate, commodity prices would fall. However, if the situation between Russia and Ukraine deteriorates further, or evolves into a full-scale war, the price of the CLC aerated bricks is predicted to see further improvement over the coming days.
