Will The Commodity Price Rally Last Into 2022?

The global economic rebound, accommodative monetary policies, bad weather, and supply chain disruptions have propelled commodity prices higher to make the complex the top-performing asset class in markets this year.

The S&P Goldman Sachs Commodity Index (INDEXSP: SPGSCI) was up by 36 percent year to date to December 22, compared to 27-percent year-to-date increase in the S&P 500 index (INDEXSP: .INX).

Another strong year is in the cards in 2022, although key downside risks remain, analysts say. These risks include the biggest wild card: how governments will continue to manage COVID and whether the pandemic will lead to more severe restrictions and/or lockdowns. The other major driver of commodities next year will be China’s government policies in containing the virus, procuring commodities, and managing the property crisis following the fallout from the indebted property giant Evergrande.

The property crisis has weighed on the Chinese steel sector in recent months, with … Read more

Fire Injures Four At Exxon Refinery

A fire broke out early today at the Baytown refinery operated by Exxon (NYSE:XOM), injuring four people.

Law enforcement has called the fire a major industrial incident, the Wall Street Journal reported. No fatalities were reported at the 561,000-bpd complex.

“ExxonMobil’s emergency response teams continue to work to extinguish the fire that occurred in a hydrodesulfurization unit at our Baytown Refinery this morning around 1 a.m. Central Time,” the supermajor said in a statement emailed to the WSJ.

“We are saddened to inform that four people were injured and are receiving medical treatment. All other personnel have been accounted for.”

“Our first priority is people in the community and in our facilities. Air monitoring continues along the fence line. Available information shows no adverse impact at this time,” the company’s Baytown division said in a statement, as quoted by the WSJ.

NBC quoted the Harris County Sheriff’s Office as saying … Read more

Microbix at 52-Week High on Order

Microbix Biosystems Inc. (T.MBX) hit a new 52-week high of 84 cents Friday. Microbix announced receipt of a follow-on order of $ 4.7 million for its viral transport medium (generically known as “VTM” and branded “DxTM™ ” by Microbix). DxTM is a sample-collection device that is essential for PCR-based testing for viruses that cause COVID-19 disease. This further order has been made by a procurement authority representing the Province of Ontario.

AGF Management Limited Class B Non-Voting Shares (T.AGF.B) hit a new 52-week high of $8.31 Friday. No news stories available today

AltaGas Ltd. (T.ALA) hit a new 52-week high of $27.23 Friday. No news stories available today

Aldebaran Resources Inc. (V.ALDE) hit a new 52-week high of 75 cents Friday. No news stories available today

Athabasca Minerals Inc. (V.AMI) hit a new 52-week high of 36 cents Friday. No news stories available today

Automotive Properties Real Estate Investment Trust … Read more