Energy commodity prices rose 2.7 percent in April as the crude oil average rose 2.5 percent, according to the World Bank’s Pink Sheet.
Non-energy prices declined 2.4 percent as agriculture fell 1.4 percent, food and beverages prices dipped by 2.1 percent and 1 percent, respectively, and raw materials rose 0.3 percent. Fertilizer prices declined 6 percent.
Metals and minerals prices slid 4.3 percent, led by an almost 20 percent tumble in iron ore. Precious metals eased 2.7 percent.
The Pink Sheet is a monthly report that monitors commodity price movements.
Prices for most industrial commodities, notably energy and metals, are projected to rise in 2017 while agricultural prices are expected to remain stable, the World Bank says in its April 2017 Commodity Markets Outlook.
Closely watched crude oil prices are forecast to rise to an average of $55 per barrel (bbl) over 2017 from $43/bbl in 2016, climbing to $60/bbl next year. The forecast is unchanged since October and reflects the balancing effects of production cuts agreed by the Organization of Petroleum Exporting Countries (OPEC) and other producers on one side and a faster-than-expected rebound in the U.S. shale oil industry on the other. World oil demand is growing strongly, although at a slower pace than the 2015 spike triggered by lower oil prices.
Across large swaths of the developing world, a new trend is taking hold: governments are targeting public and private investments in specific geographic areas in the hopes of creating spatial “development corridors.” These strategies are guided by the belief that concentrating and co-locating infrastructure investments in specific locations can create clusters of interconnected firms, nurture the development of value chains, reduce unemployment, and improve the provision of basic public services.
Countries in the South Asia Region (SAR) face a number of operational and economic challenges as they seek to keep up with rapidly growing electricity demands. Our analysis finds that increased regional electricity trade facilitated by expanded cross-border transmission interconnections among SAR countries can contribute significantly to alleviating these challenges. Cross-border electricity trade could save as much as US$94 billion (in present value terms) in the region during the 2015-2040 period. It would reduce the regional power sector CO2 emissions during the period by 8% even without pro-active measures to reduce CO2 or harmful local pollutants. Moreover, significantly increasing cross-border interconnection and trade will necessitate taking steps that inevitably will reduce substantial existing inefficiencies in national power systems in the region, as well.
It’s 3/14, also known as Pi Day – a mathematics holiday to celebrate the irrational, transcendental number we learned in school, for the most part, to calculate the circumference or area of circles. While there are a number of fulfilling Pi(e) related activities you can indulge in, from feasting on scrumptious pies to chasing down the value of Pi (good luck!), it is also an apt moment to turn attention to where children across the world stand in mathematics achievement and other learning outcomes.
As a political scientist specializing in the comparative politics of development, including particular attention to issues of governance and democracy, I have followed this year’s World Development Report with special interest. I have not been alone. WDRs usually attract attention, but this year’s report seems to have attracted more than most. Several constituencies have pushed for some time for a WDR on the topics addressed in this report, and there thus was a lot riding on it in terms of hopes and expectations for a strong statement on governance.