Despite high vaccination rates in many parts of the world, people appear to be still wary of public transit, opting for personal vehicles, which is driving up demand for crude oil along with metals. Called “the great car comeback” by Bloomberg , the trend is visible in locations as diverse as Tel Aviv, Moscow, and Bucharest, according to data from satellite navigation device maker TomTom. Car sales in Europe soared by 63 percent last month to 1.39 million, which was high not just compared to last year, when sales of everything but handwash and toilet paper were subdued. The March registrations number was the highest monthly car sales figure since June 2019, Bloomberg noted in an earlier report. Car sales rose in the first quarter, at double-digit rates. Electric cars—including plug-in hybrids—also increased strongly but constituted just 15 percent of total quarterly sales. This means gasoline cars are still […]