Recently, a highly regarded strategist at JP Morgan stated that we are entering the fifth super cycle of commodities, his name is Marko Kolanovic. He cites the Covid recovery, very loose monetary and fiscal policy, a weak dollar, stronger inflation, and the impact of environmental policies on supply and demand.
This supercycle language refers to very long periods, up to 100 years, of increased demand and cost for commodities. He says this one is starting with oil which has risen for a couple of weeks in a row.
We have been talking and writing about a commodity run in prices for months and it looks like others are starting to believe it as well.