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.
2,522 total articles
A severe heat wave forced cancellations and postponements of dozens of public Independence Day events across much of the central and eastern United States, including a temporary closure of the Great American State Fair on the National Mall in Washington. Authorities issued broad heat alerts and urged caution as temperatures and heat indices climbed…
PJM, the largest U.S. grid operator, said it was under a federal alert and ordered reductions in consumption from customers contracted to curtail during emergencies as generator outages, overloaded transmission lines and intense heat raised the risk of supply shortfalls. Spot prices in northern Virginia surged past $2,000 per megawatt hour this wee…
Peru’s electoral office declared conservative Keiko Fujimori the winner of the June 7 runoff after an extended review of contested ballots. Fujimori captured 50.135% of the vote versus leftist Senator Roberto Sanchez’s 49.865%, a gap of roughly 50,000 votes out of about 18 million cast. The result caps a fraught process marked by protests, allegati…
Americans are proceeding with Independence Day travel plans even as gasoline prices stay well above last year’s levels. Price relief from reduced geopolitical risk has moderated fears of supply shocks, but U.S. gasoline inventories - particularly on the Gulf Coast - remain low and could keep upward pressure on pump prices.
Gulf oil shipments climbed sharply in June, rising by more than 3 million barrels per day from May to top 10 million bpd, driven largely by a record rebound in United Arab Emirates exports and increased movement through the Strait of Hormuz. U.S. military assistance and a June 17 agreement between Washington and Tehran to halt hostilities accelerat…
Iran has started negotiations to sell crude to Japanese companies, but potential buyers are requesting a longer U.S. sanctions waiver and guarantees about safe shipping in the Gulf, according to three Iranian and Western sources. The United States authorised limited Iranian oil sales in June as part of diplomatic efforts tied to nuclear inspections…
Global oil benchmarks were largely unchanged on Friday as market participants weighed fragile US-Iran negotiations aimed at easing tensions in the Strait of Hormuz against recent military exchanges. Brent inched higher while WTI was effectively flat; weekly moves were muted. Renewed shipping through the strait and rising Gulf output have reduced ne…
European natural gas prices rose to a three-week high as lingering worries about slow storage refills and infrastructure disruptions outweighed diplomatic progress in Qatar. Front-month Dutch and British contracts remained supported by a sluggish injection season, constrained Norwegian pipeline maintenance and fierce global competition for LNG carg…
Global crude benchmarks rose marginally on Friday as traders entered a long U.S. holiday weekend with guarded optimism over peace efforts between the United States and Iran. Gains were small after the previous session's lows and amid signs that some producers and tanker movements are increasing supply from the Gulf.
Oil prices slipped as signs of ample near-term supply and recovering Gulf crude flows reduced the geopolitical premium, even as market participants watched U.S.-Iran negotiations and pared some short positions before a U.S. holiday. U.S. WTI futures were down modestly, with market structure and Chinese buying by independents influencing near-term b…
Gold steadied on Friday following weaker-than-anticipated U.S. nonfarm payrolls for June, a development that trimmed bets on further interest-rate increases and helped the metal recover from earlier losses. Spot and futures gold moved higher, while other precious metals and the U.S. dollar reacted to the data. Trading volumes were subdued ahead of …
A divided 9th U.S. Circuit Court of Appeals panel upheld a South Coast Air Quality Management District rule that prohibits manufacture, sale and installation of certain nitrous oxide-emitting appliances in four Los Angeles-area counties. The June 2024 zero-emissions regulation, aimed at cutting smog and meeting federal ozone standards, survived cla…
Australia's Department of Industry, Science and Resources has warned that actions by China Mineral Resources Group (CMRG) to lower costs for Chinese steelmakers could put downward pressure on iron ore benchmark prices over the medium term. The advisory, published in the department's Resources and Energy Quarterly, highlights CMRG's stepped-up activ…
Kuwait's crude oil production climbed to 1.65 million barrels per day in June, supported by a late-month surge that pushed daily output to as high as 1.9 million bpd in the last 10 days of the month. May output had been roughly 580,000 bpd, significantly below pre-war levels of about 2.5 million bpd. The recovery has enabled Kuwait to ramp up shipm…
Wheat futures on the Chicago Board of Trade were set to open higher on Thursday, extending gains into a third straight session as traders reposition ahead of the July 4 federal holiday. Support came from a USDA acreage and stocks report that showed 2026 U.S. wheat plantings well below market expectations, as well as net export sales data, a large S…
The Baltic Exchange dry bulk freight index rose to its strongest level in over a week as gains in capesize vessel rates, supported by higher iron ore futures amid supply curbs affecting Fortescue shipments to select Chinese steel mills, pushed the main index higher. Panamax and supramax sectors saw smaller increases.
India's oil minister has urged an expansion of the country's oil and fuel storage capacity while crude prices are subdued, saying existing stocks provide 76 to 80 days of supply but that New Delhi "should have more." The minister also disclosed substantial revenue losses at state fuel retailers for the April-June quarter and emphasized bolstering b…
UBS has reduced its oil price forecasts for 2026 and 2027 after an interim U.S.-Iran memorandum of understanding signed on June 17 coincided with a quicker recovery in shipments through the Strait of Hormuz. The bank cut Brent and WTI estimates for both years, adjusted its inventory rebuild and supply-demand balances, and highlighted a range of ups…
The U.S. nonfarm payrolls report and its implications for policy and markets dominate the day, even as a notable sell-off in chip stocks rippled across global tech markets. While the broad S&P 500 showed resilience, the SOX semiconductor index slumped sharply, prompting declines in Asian chip and equipment makers. Other market-moving items include …
President Donald Trump’s drive to expand biodiesel and renewable diesel output and reward farm constituencies is confronting a supply shortfall: U.S. production is trailing the Environmental Protection Agency’s elevated 2026 Renewable Fuel Standard targets. The gap between mandates and actual output has raised RIN prices, depleted the RIN bank cush…
An Iranian military commander cautioned the United States and Israel against any attack on Iran as the country prepares state funeral processions for Supreme Leader Ayatollah Ali Khamenei, who was killed in airstrikes on the first day of the war. Officials announced a multi-day funeral schedule, heightened security measures and temporary airspace r…
European natural gas futures climbed for a second straight session, supported by an intensifying continental heatwave and renewed diplomatic friction between U.S. and Iranian officials that renewed worries about shipping through the Strait of Hormuz. Prices strengthened despite some temporary relief in global supply bottlenecks, while regional stor…
OCBC Group Research has reduced its quarterly Brent crude price projections through the second quarter of 2027, citing a pickup in shipping through the Strait of Hormuz that has renewed oversupply concerns. The bank also cut end-2026 forecasts for gold and silver, attributing the changes to shifts in real rates, dollar strength and Federal Reserve …
Fortescue Metals Group shares declined after Chinese authorities verbally instructed some domestic steelmakers to refuse deliveries of specific lower-grade products from the Australian miner. The measures, which apply to portside cargoes and take effect from July 15, occur amid active supply negotiations between Fortescue and China Mineral Resource…
Oil prices slipped in early trading after Qatar said indirect U.S.-Iran talks in Doha produced "positive progress" on issues tied to the Strait of Hormuz. Brent and U.S. crude fell more than 1% from recent session lows as tanker traffic began to recover, OPEC+ output plans signalled added supply, and U.S. stocks posted a draw smaller than analysts …
