ISLAMABAD: Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, said the World Bank on Tuesday.

In its latest Commodity Markets Outlook (CMO), the bank said that despite this drop, the overall commodity prices will remain 30 per cent higher than they were in the five years before the Covid-19 pandemic.

While price projections across individual commodities are mixed, a major factor underlying the overall decline is improving supply conditions. This, coupled with expectations of moderate global economic growth, gives rise to generally modest expected price movements, except where individual markets are responding to commodity-specific developments,........

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