homemarket NewsCrude crisis to hit Indian economy lesser; commodity prices may soften a bit: Bank Julius Baer

Crude crisis to hit Indian economy lesser; commodity prices may soften a bit: Bank Julius Baer

In an interview with CNBC-TV18, Mark Matthews, Bank Julius Baer & Co, said that he expects commodity prices to soften a bit. He mentioned that commodity movement is contingent on the Russia-Ukraine conflict and accordingly, in the short-term, the prices could go anywhere. He also said that he doesn’t see the Indian economy getting as impacted by crude oil as it would have 10-15 years ago. He believes crude oil price will eventually soften despite the geopolitical tensions.

By Sonia Shenoy   | Anuj Singhal   | Prashant Nair  Mar 3, 2022 11:56:38 AM IST (Updated)

Mark Matthews, Bank Julius Baer & Co, on Thursday, said that he expects commodity prices to soften a bit. He mentioned that commodity movement is contingent on the Russia-Ukraine conflict and accordingly, in the short-term, the prices could go anywhere. Matthews, however, remains hopeful of things getting better.
He said, “I am a little worried that western politicians and media are making such a big deal about how Russia is so-called losing, that it might inspire Putin to double down and he has been trying to avoid casualties so far. There is a possibility that it gets better and that leads me to commodities and oil because where they go is also contingent on this conflict.”
Elaborating on crude oil, he said that generally, the prices tend to soften eventually despite geopolitical tensions. Additionally, he mentioned that he doesn’t see the Indian economy getting as impacted by crude oil as it would have 10-15 years ago.