For most commodity markets, 2020 was undeniably a turbulent year. The outbreak of the coronavirus pandemic triggered a widespread global shutdown of economic activity, negatively impacting demand and disrupting supply chains for commodities in virtually all sectors. Energy, industrial metals, and even precious metals — those mainly reliant on industrial applications and not to safeguard the invested capital, dragged significantly lower. As from the second half of an unprecedented 2020, prices of several essential commodities rallied. Oil Crude oil: strongly depressed in the first half of 2020, consequent to a fall in demand due to the health crisis and breaking up of the OPEC+ agreement, registered substantial gains in the second half of the year. The re-opening of economies following a decline in coronavirus cases and steady developments on a coronavirus vaccine boosted hopes for a sustained recovery in economic activity and energy demand. Crude oil, the single most important commodity in the world, began 2021 on a positive trajectory. Brent crude oil: a blended oil drilled from below the North Sea and typically refined into diesel fuel and gasoline, surged eight per cent in...