Over the past year, the commodities story has given investors as much drama and volatility as have equity markets. Despite the strong fundamental case underlying the asset class, sub-sectors have had wildly variable performances. Oil, for example, smashed records at $147 a barrel in July before slumping to half that figure in October. Subsequently, providers have found it a challenge to manage investor expectations and extract value.
JP Morgan's progress has been far from halted by the sector's