Geopolitical tensions continue to affect commodities with energy seeing the biggest gains on concerns of the Libyan unrest spreading to Saudi Arabia or Iran. WTI Crude rose 10% in one week reaching the highest level in 2½ years on concerns supply disruptions could trigger a crisis. Precious metals also rallied as investors sought safe havens, with silver reaching a 30-year high and outperforming gold. Agricultural commodities like soybeans, wheat and cotton - which have seen huge gains in recent weeks – are experiencing significant declines.
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