Energy: Oil prices rose last week, a rebound that nonetheless looks like a strong recovery after the previous week's dizzying drop in Brent crude oil prices, which fell by nearly 12%. Traders are still feeling the pinch as banks on both sides of the Atlantic continue to struggle. In other words, risky assets are still experiencing turbulence, explaining the return of selling flows in oil late last week. On the supply side, Russia is expected to continue cutting production by around 500,000 barrels per day until the end of June. In the United States, weekly oil inventories rose by another 1.1 million barrels, while the consensus was for a contraction of 1.7 million barrels. In terms of prices, Northern European Brent and U.S. WTI are trading at around USD 75 and USD 70 per barrel respectively. Related to natural gas in Europe, the Rotterdam TTF is treading water at around EUR 42/MWh.

Metals: Gold is going through a period of folie de grandeur, returning to the USD 2,000 mark, but without breaking through the glass ceiling. The return of risk aversion and the decline in bond yields are helping to rekindle investors' appetite for the barbaric relic. As for base metals, despite the general mood of the markets, which remains heavy, industrial metal prices gained ground this week, with the exception of nickel, which sank to USD 2,850. On the contrary, copper is again approaching the USD 9000 line on the London Metal Exchange.

Agricultural products: Against the trend of energy and metal prices, wheat prices fell this week. In Chicago, a bushel of wheat is trading around 670 while corn is hovering around 630 cents.