JP Morgan Chase specialists think that a new super-cycle of growth has been developing in the raw materials markets, the fifth in one hundred years. The previous one started in 1996, and its peak was in 2008. The JP Morgan report indicates, in particular, a probability of a long-term growth of prices for oil, as market participants place their stake on post-pandemic economic recovery. There is one more reason of energy resources price growth stated by JP Morgan, — combating climate change, which may be followed by oil production control. As per JP Morgan analysts’ estimates, in the fourth quarter of 2021 Brent oil cost may raise up to $68 per barrel.
Not only JP Morgan Chase expects prices growth in the commodity market. Goldman Sachs Group, Bank of America and Ospraie Management analysts also predict commodity markets growth due to government programs for economic support and mass vaccination campaign for coronavirus all over the world. In particular, Goldman Sachs expects Brent oil price growth in the fourth quarter of 2021 up to $65 per barrel. Citigroup estimates that by the end of the year Brent oil will reach $70 per barrel.