Commodities round-up: Crude oil price up 13.5% so far this year; rubber at 2-month high

The rubber price is trading at a two month high. The improved China demand outlook and the rising COVID-19 cases may lead to labour shortages at producing countries and that seems to be worrying the rubber supplies and prices going up because of that.

Also, there is no respite on crude oil prices. The geopolitical tensions also seem to be supported because the US has released pictures of Russia preparing to attack Ukraine if diplomacy fails, also, the Yemen Houthi fighters have claimed drone strikes in UAE. So these are the facts that are leading to some sentiment gain in the case of crude oil prices.

In any case, the prices of diesel, jet fuel have been on a rise. China also agreed to release strategic reserves and the markets will watch out for that.