Price movements and fundamentals across major commodities.
Analysis and reporting on commodities such as oil, natural gas, gold, industrial metals, and agricultural products. Focuses on supply-demand dynamics, geopolitical risks, inventory trends, and macro drivers affecting commodity markets.
2,875 total articles
BMO Capital Markets has sketched an aggressive bull-case forecast in which gold futures could climb past $6,000 per ounce by the fourth quarter of this year, with silver exceeding $150/oz. The projection comes as gold surpassed $5,100 for the first time and follows a dramatic rally in precious metals driven by geopolitical shocks, expectations of U…
Trading firms that secured U.S. permissions to handle Venezuelan oil supplies are preparing to export liquefied petroleum gas (LPG) and residual fuel oil as part of a 50-million-barrel supply arrangement between Caracas and Washington. Shipping records and sources indicate movements consistent with the start of LPG liftings, while Venezuelan author…
A powerful winter storm over the weekend prompted U.S. oil producers to shut in as much as 2 million barrels per day of crude output, or roughly 15% of national production, with the Permian Basin shouldering the largest share. The storm also reduced associated natural gas output, left hundreds of thousands without power and caused spikes in wholesa…
On Jan. 26, the Interior Department opened a nomination window for oil and gas companies to propose areas for possible offshore lease sales off Southern and Central California. The move advances a federal effort to expand offshore drilling and has drawn sharp criticism from California officials and environmental groups. The timeline for actual leas…
Tether reported adding roughly 27 metric tons of gold to its portfolio in the fourth quarter of 2025, maintaining the rapid accumulation pace seen in the prior quarter. The purchases have coincided with a sharp rally in spot gold, which has moved past several psychological price thresholds this year. Tether holds gold to back its XAUT token and as …
Baker Hughes says Venezuela presents a sizable revenue opportunity for its oilfield services and industrial businesses, but operating there hinges on employee safety, legal and regulatory clarity, and substantial investment in well integrity, power and equipment. The company has maintained a presence supporting licensed producers and reported an 11…
Naim Qassem, deputy leader of Lebanon's Iran-aligned Hezbollah, said the group is concerned about threats from Washington directed at Iran, especially any threat to Supreme Leader Ayatollah Ali Khamenei. Qassem said Hezbollah is prepared to defend itself and will determine its response in due course, adding that mediators indicated the U.S. and Isr…
Canada's prime minister said the formal review of the U.S.-Mexico-Canada Agreement, scheduled to begin later this year, will be thorough. He characterized U.S. President Donald Trump as a strong negotiator and urged that recent critical remarks be considered in the context of upcoming USMCA talks. The three-nation pact entered into force in July 20…
Gold climbed to unprecedented highs on Monday, topping $5,000 per ounce for the first time and extending gains above $5,100. The metal has rallied more than 80% over the past 12 months and continues to attract central bank purchases, exchange-traded fund inflows and retail speculation. Multiple potential drivers - from a softer dollar and trade ten…
Hong Kong's government will introduce a state-owned gold clearing system with trial operations beginning this year, part of a broader push to build a precious metals ecosystem. The move coincides with gold reaching a record $5,100 an ounce, and includes plans for new futures contracts, tax incentives for investors, cooperation with the Shanghai Gol…
OPEC+ is widely expected to hold its halt on increasing oil production for March, according to three OPEC+ delegates, after crude prices climbed following a fall in Kazakhstan's output. An upcoming meeting of eight member countries will review the pause that was implemented for January-March despite an earlier decision to raise output targets for l…
European Union governments have granted final approval to legislation that will outlaw imports of Russian gas by set deadlines, turning the bloc's political commitment into binding law. The measure passed despite opposition from two member states and an abstention, and includes staggered cutoffs for liquefied natural gas and pipeline deliveries, pl…
Yardeni Research says a broad-based rally in metals has moved beyond gold into precious, base and rare earth metals, driven by rising geopolitical tensions and increased capital spending tied to an AI-related arms race. The firm reiterated long-term gold targets of $6,000 by year-end and $10,000 by the end of 2029, and pointed to outperformance amo…
Crude futures were largely unchanged after strong gains last session, with Brent at $65.84 and WTI at $61.03. Traders weighed a heightened geopolitical risk premium - spurred by U.S. military movements toward the Middle East - against improving logistics from Kazakhstan and lingering worries about a possible supply surplus in 2026. Attention now sh…
Oil prices held onto gains after a more than 2% rise in the previous session, supported by renewed geopolitical risk tied to the U.S.-Iran standoff and disruptions to U.S. production from severe winter weather. A Kazakhstan pipeline terminal returned to full loading capacity, but investors remain cautious as a U.S. naval presence in the Middle East…
Gold prices pushed above the $5,000 an ounce threshold on Monday as investors sought protection amid rising geopolitical tensions and the prospect of easier U.S. monetary policy later in 2026. Spot gold reached $5,035.83/oz by 18:52 ET (00:52 GMT) while U.S. Gold Futures climbed to $5,074.71/oz. Silver and platinum also marked new peaks as market p…
A deep freeze sweeping much of the United States sent real-time wholesale electricity prices sharply higher on Sunday after demand in Virginia - home to the world’s largest concentration of data centers - exceeded forecasts. PJM Interconnection reported a late Saturday-night surge in demand and projects a potential all-time winter peak this week, w…
The winter storm moving across a wide swath of the United States has already reduced crude and natural gas output and sent wholesale power prices swinging as operators pre-emptively halt production and grid operators ready backup resources. Analysts estimate combined crude shut-ins could reach roughly 300,000 barrels per day while natural gas losse…
Electricity grid operators across the United States heightened emergency measures as a cold snap affecting nearly half the population raised demand and constrained fuel supplies. The largest regional grid, PJM, saw spot prices spike to about $3,000 per megawatt hour early Saturday, while other regional operators called on plants to maximize output …
Goldman Sachs has increased its 2026 Dutch TTF gas price forecast after weather models point to a colder-than-average January across northwest Europe and associated tighter gas balances. The bank now sees end-March 2026 storage at a much lower level under current forward prices, prompting an upward revision to its 2026 price view and a modest lift …
Mexico is currently reassessing its role as a crucial oil supplier to Cuba, responding to internal apprehension regarding potential retaliation from the United States amid heightened geopolitical tensions. With Venezuelan oil shipments to Cuba suspended due to U.S. actions, Mexico stands as the main oil provider to the Caribbean island. Mexican Pre…
The Trump administration is reportedly evaluating the possibility of enforcing a comprehensive naval blockade on oil shipments headed to Cuba. This potential policy shift is part of discussions aimed at intensifying pressure on the Cuban government to induce political change. Key figures within the administration have expressed support for such mea…
Valero and Phillips 66 have purchased Venezuelan crude oil cargoes from trading house Vitol for delivery to the U.S. Gulf Coast, marking some of the first U.S. purchases tied to Washington’s authorization to export up to 50 million barrels from Caracas. The crude was traded at a discount to Brent, while Vitol and Trafigura, which received U.S. lice…
U.S. energy companies have shown a slight increase in their oil and natural gas drilling platforms for the first time in three weeks, with rig counts rising by one unit to 544 in the week ending January 23. Despite this increase, the total rig count remains notably below last year's level. This development appears alongside persistent declines in r…
SLB told investors it can quickly ramp up work in Venezuela if appropriate licences, safety protocols and compliance arrangements are put in place. The company and Halliburton have both held discussions with U.S. officials about potential investment after political changes in Venezuela, and analysts say they are well positioned to benefit if foreig…
