This is at Goldman Sachs where we discuss development shaping industries markets and the global economy.

I'm Allison Nathan, a senior strategist in Goldman Sachs research.

Today we're going to talk about the sharp rise in commodity prices, what's driving it,

and whether or not it's sustainable. To do that, I'm sitting

down with my colleague Jeff Curry, Global Head of Commodities Research, and our Global Investment

Research Division. Jeff, welcome back to the program.

Great, thanks for having me.

It's a pleasure to be here.

For those of you listening who don't know, Jeff and I worked together

for a very long time, more than 20 years.

My first job at Goldman Sachs was working in the Commodities Research Group with Jeff so it's so great to be able to sit and talk about these markets with you that are near and dear to my heart. So let's get started.

So if we look at what's going on in commodities right now,

economic growth is slowing.

We've had another virus hit.

We've had a ton of hawkish news from the central banks around the world.

Fiscal support is fading as we come out of this pandemic era, but you know commodity prices and we're talking

oil, metals, grains. They've all you know commodity prices and we're talking oil metals

grains they've all surged into the new year rent crude oil is above $90 per

barrel at this time I would say that is the first time death correct if I'm wrong they're at that level

since the spectacular collapse in 2014 so really interesting environment right now so

set the stage for us in terms of what factors are driving the surge in commodity prices,

especially against that economic backdrop.

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