Commodity Update April 7, 2021: IMF Expects Average Oil Prices to Grow 41% in 2021

Commodity update as of 10:30 local time in Thailand on April 7, 2021

Crude oil prices were slightly higher in the morning of the Asia trading session on April 7, 2021, as the IMF stated that oil prices may rise by 41.7% in 2021, compared to 2020. Meanwhile, the Fund revised up global GDP in 2021 to 6% from 5.2%.

The U.S. 10-year bond yield dropped more than 4% in five days, causing the return to drop lower than 1.7% to 1.66%.