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
Brent crude second-month contracts traded above prompt-month prices on Wednesday for the first time since the Iran war began in late February, a sign of near-term supply pressure. Traders pointed to a surge of exports from the Arabian Gulf, with about 20 million barrels reported to have passed through the Strait of Hormuz in the previous 24 hours a…
Executives at U.S. oil and gas companies told a Dallas Fed survey they expect only a small uptick in domestic production under current price conditions, even as activity accelerated in the second quarter. The survey highlighted rising input costs, especially for oilfield service firms, and cited geopolitical and regulatory uncertainty as constraint…
Speaking in Kuwait City during a Gulf tour, U.S. Secretary of State Marco Rubio pledged that Washington will not take actions that weaken the security of its long-standing allies in the Gulf as technical negotiations continue to implement a recently signed U.S.-Iran memorandum. Rubio met Gulf leaders, including in the United Arab Emirates and Kuwai…
Physical crude cargoes are changing hands at unusually large discounts as Middle Eastern supply expands quickly following a 60-day interim agreement between the U.S. and Iran. The deal, which has temporarily eased sanctions and allowed some shipping through the Strait of Hormuz to resume, has released cargoes and spurred offers from major Gulf prod…
U.S. crude inventories declined by 6.1 million barrels in the week ending June 19 to 412.1 million barrels, outpacing analyst expectations. Stocks at the Cushing, Oklahoma delivery hub fell by 1.1 million barrels. Refinery crude runs and utilization rates decreased, even as gasoline and distillate inventories increased.
The Baltic Exchange dry bulk freight index fell Wednesday as weaker capesize and supramax vessel rates outweighed gains in the panamax segment. The main index dropped 33 points to 2,634, with capesize average daily earnings down $870 to $32,322 and panamax earnings up $235 to $18,641. The capesize index hit its lowest point since June 18.
Russia has asked the United States to clarify whether President Donald Trump has shifted his stance on the Ukraine conflict after French President Emmanuel Macron reported comments made at the G7 meeting in Evian. Russian Foreign Minister Sergei Lavrov said Moscow wants to know what changes, if any, emerged from the summit and reiterated complaints…
J.P. Morgan trimmed its Brent crude price forecasts for the second half of 2026, now estimating an $86 average in Q3, $80 in Q4 and $78 by year-end. The bank pointed to smaller-than-expected OECD commercial inventory withdrawals and larger demand losses, and noted that government Strategic Petroleum Reserve releases have been the primary source kee…
Keiko Fujimori secured a razor-thin victory in a protracted runoff, returning the Fujimori political movement to executive power in Peru. The result, declared decisive with 98.86% of votes tallied, comes amid allegations of fraud from her opponent, a tense vote count and warnings about the challenges she will face governing a country beset by crime…
An abrupt sell-off in chip-related equities injected notable volatility into markets as a leading U.S. chip-stock index fell 8% and Micron Technology plunged roughly 13% ahead of its earnings update. The move, coming after a year-to-date surge in memory-chip shares, coincided with a steep earlier retreat in South Korea’s KOSPI and renewed scrutiny …
UBS reports that the reopening of the Strait of Hormuz following a U.S.-Iran interim accord is prompting a fast rebound in global oil supply. The bank estimates that almost 80% of disrupted liquids will come back within three months and about 90% by the end of the year, while cautioning that restarting production and resolving logistical bottleneck…
Since a federal tax and spending law took effect last July, more than 4.7 million people have lost Supplemental Nutrition Assistance Program (SNAP) benefits nationwide, with Arizona experiencing the steepest proportional decline. The law reduces SNAP funding by $187 billion over 10 years and expands work requirements and documentation rules that st…
European natural gas benchmarks weakened as tanker movements through the Strait of Hormuz began to normalize. The return of Qatari-laden carriers into the waterway reduced the geopolitical risk premium that had been supporting elevated prices, sending front-month futures toward the 40 euro per megawatt-hour area and pushing benchmark contracts lowe…
The International Atomic Energy Agency confirmed inspections in Iran will proceed in the near term following an interim memorandum between the United States and Iran. IAEA Director General Rafael Grossi said modalities - including dates, procedures and locations - remain to be agreed with Tehran as the two countries enter a 60-day negotiating perio…
Aluminium prices declined to their weakest levels since late March after a drop in perceived Middle East risk and a stronger U.S. dollar. London Metal Exchange three-month aluminium fell to $3,208 per metric ton by 0701 GMT, while the most-traded Shanghai contract closed at 23,405 yuan per ton. Market participants expect Gulf-region supply to norma…
Israeli and Lebanese officials said a U.S.-backed proposal under discussion in Washington would transfer portions of territory occupied by Israeli forces in southern Lebanon to the Lebanese army after U.S. training and vetting. Israel would retain forces in a border buffer. The proposal is part of ongoing talks that began Tuesday and faces rejectio…
Gold declined for the fifth time in six sessions and approached the $4,000-per-ounce threshold as a stronger U.S. dollar and higher odds of Federal Reserve rate hikes reduced demand for the non-yielding metal. Traders are pricing in a high likelihood of additional tightening this year, while easing concerns over Middle East supply and ongoing U.S.-…
Oil prices fell further on Wednesday, trading close to four-month lows reached a day earlier, as indications mounted that tankers stranded in the Gulf since the start of the Iran war are beginning to transit the Strait of Hormuz. Market pressure also reflected a temporary sanctions waiver for Tehran and reduced hostilities in Lebanon, even as key q…
Oil futures fell for a third consecutive session in Asian trade as evidence of renewed shipping through the Strait of Hormuz and nascent diplomatic progress between Washington and Tehran reduced the perceived risk of extended supply disruption. Brent and WTI slipped about 0.4% each as traders priced in the possibility of crude returning to global m…
India has prepared contingency measures for more than 300 districts at risk from a weak monsoon, the farm minister said after a meeting with state ministers, officials and scientists. Monsoon rains are running roughly 43% below average to date and the weather office has signalled continued weakness through the week ending July 2. Officials point to…
The U.S. Department of Energy announced $17.5 billion in conditional loan support intended to help utilities and energy firms procure reactors and related long-lead equipment to restart the domestic commercial nuclear supply chain. The program, overseen by the department's Energy Dominance Financing unit, targets up to five loans that would each ba…
Hedge funds enlarged their bearish wagers on U.S. crude in the week ended June 16, with gross short positions in West Texas Intermediate climbing to their highest level in nearly five months. Traders cited expectations that a preliminary U.S.-Iran agreement, along with U.S. sanctions waivers, could lift Iranian oil exports and ease shipping bottlen…
President Donald Trump asserted that Iran has accepted long-term, high-level nuclear inspections and said the United States is temporarily waiving sanctions and releasing funds to be placed in U.S.-controlled escrow for the purchase of American food and medical supplies. Iran has denied entering discussions on its nuclear program or inviting Intern…
U.S. and global equity markets opened the week under pressure as megacap technology names fell sharply, led by Alphabet and Amazon, while SpaceX drew attention after revealing plans to raise debt and suffering a steep share drop. A hawkish U.S. interest rate outlook and currency stress in Asia compounded weakness, even as chipmakers held up ahead o…
Norilsk Nickel projects small global surpluses in palladium for 2026 and 2027 and anticipates growing nickel surplus through 2027. The company expects Russian palladium output to resume growth to about 2.7 million ounces next year, supported by the Chernogorskoye deposit, and cautions that nickel market outcomes hinge on developments in Indonesia.
