FXStreet reports that analysts at Goldman Sachs remain upbeat on the outlook for commodities.

“Oil is seen rising to $80/bbl, global consumption will surge 5.2m b/d over the next six months, which is 50% larger than the next biggest increase over that timeframe since 2000. 

The magnitude of the coming change in the volume of demand -- a change which supply cannot match -- must not be understated. Copper to reach $11,000/ton.”

“Expect greater mobility, aided by vaccines, a seasonal upswing in transportation, manufacturing and construction, beginning now and accelerating into June. The pace of vaccination accelerates in Europe; increased travel demand will result in easing of international travel curbs in May. “