OPEC's monthly update highlighted a robust recovery in commodity prices during January, driven by improved sentiment in futures markets and uncertainties around US trade policy. The energy price index rebounded by 7.2% month-on-month and 2.3% year-on-year, boosted by higher natural gas and crude oil prices. Average crude oil prices rose 8.1% month-on-month, supported by supply concerns, and edged up 0.6% year-on-year. Henry Hub natural gas prices soared 35.6% month-on-month, marking a second consecutive month of gains, due to unexpected cold weather across the US that sharply reduced underground storage levels by 16.5%, according to EIA data. Year-on-year, Henry Hub prices climbed 28.9%. However, declines in coal prices partially offset energy index gains, while lingering macroeconomic uncertainties continued to weigh on broader commodity markets.
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