Commodities outlook still grim this year, says World Bank

Washington

THE outlook for commodities remains grim for this year, except that oil will fall a bit less than previously forecast, the World Bank said.

Average prices for fuels such as crude, natural gas and coal will tumble 39 per cent from 2014, while those for materials such as metals and fertilisers will fall about 12 per cent, the Washington-based lender said in its quarterly Commodity Markets Outlook released on Wednesday.