FXStreet (Mumbai) - Commodity prices are on track for their best week since 2012 on the back of a rise in oil prices and the resulting risk-on in the financial markets. Oil/commodity driven risk-on The Bloomberg Commodities Index advanced 3.9%, mainly on account of an almost 10% rise in Zinc price after the mining giant Glencore announced a cut in the production. The index has recovered sharply this week from the 16-year low seen in August. This has also resulted in the risk-on in equities as the uptick in the raw material prices has triggered a rally in the energy and mining shares across the globe. European stocks have rallied for the sixth consecutive session, with FTSE 350 mining index rallying 18% this week. For more information, read our latest forex news.