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.
2,159 total articles
Recent U.S. government biofuel blending mandates and a sharp rise in diesel prices tied to the U.S.-Israeli conflict with Iran have combined to restore profits to refinery renewable fuel operations. Mandates require a large increase in biodiesel and renewable diesel use and continue the long-running ethanol blending requirement, helping push Renewa…
Goldman Sachs models show that a 1 percentage point increase in U.S. diesel yield typically reduces finished motor gasoline yield by 0.8 percentage points as refiners redirect runs toward diesel when margins make it more profitable. In a prolonged Strait of Hormuz closure, OECD diesel inventories could remain above a 20-day critical threshold throu…
JPMorgan reduced its 2026 average gold price projection to $5,243 per troy ounce from $5,708, citing a cooling in near-term investor appetite and light positioning. The bank maintained its base-case bullish outlook, still forecasting a rise to $6,000/oz by year-end, and is watching a potential reopening of the Strait of Hormuz as the central cataly…
China has pledged to purchase at least $17 billion a year of U.S. agricultural goods, in addition to existing soybean commitments, for three years following a leaders' summit. The move would bring annual U.S. farm exports to China near $28 billion to $30 billion and necessitate increased imports of wheat, feed grains, meat and non-food agricultural…
Goldman Sachs has reaffirmed a bullish stance on gold with an unchanged year-end target of $5,400 per troy ounce after materially increasing its estimate of central bank buying. The firm updated its proprietary nowcast after identifying a systematic underestimation of sovereign purchases, pushing its 12-month moving average to 50 tonnes per month a…
Gold prices fell to their lowest level in about six weeks during Asian trading as surging global yields and persistent friction between the U.S. and Iran pressured the market. The dollar strengthened and other precious metals declined as investors weighed the inflationary risks of a prolonged Middle East conflict and the likelihood of tighter polic…
Oil prices climbed more than 1% in early Asian trade after a drone attack near the Barakah nuclear power plant in the United Arab Emirates intensified U.S.-Iran tensions. U.S. President Donald Trump warned that the "clock is ticking" for Iran to accept a deal, while reports indicated the U.S. and Israel have been discussing additional military opti…
A drone struck an electrical generator outside the secure perimeter of the Barakah Nuclear Power Plant in the United Arab Emirates, causing a fire but no radiological impact or injuries, Emirati authorities said. The incident comes amid a stalled diplomatic effort to end the conflict between the U.S.-Israeli coalition and Iran and to reopen Gulf sh…
At least four people were killed in Russia after Ukraine launched what Moscow described as the largest overnight drone attack on the capital in more than a year. Three fatalities occurred in the Moscow region and one in Belgorod; officials report dozens wounded and damage to residential buildings and infrastructure. Russia’s defence ministry said m…
The Venezuelan government has begun circulating a 63-page regulatory draft to operationalize a new hydrocarbons law, setting technical, fiscal and operational conditions for foreign and domestic companies that want to invest in the country’s oil and gas sector. The proposed regulations rescind the 1943 oil law and its 1969 regulations, create manda…
Draft implementing regulations for Venezuela's new hydrocarbons law indicate the Ministry of Hydrocarbons will decide royalty and tax rates on a project-by-project basis, overturning expectations that fixed rates below legal caps would be published. The law, approved in January, established a royalty ceiling of 30% and a maximum integrated hydrocar…
On May 16 the U.S. allowed a general license permitting the purchase of Russian seaborne oil stored on tankers to lapse after a month-long extension. The move follows pressure from lawmakers who argued the waiver provided revenue to Russia without lowering U.S. fuel costs. The extension had been part of a set of measures intended to ease energy mar…
China's commerce ministry described tariff, agricultural and aircraft arrangements reached during U.S. President Donald Trump's recent visit as "preliminary," confirming plans for new negotiation boards and signaling ongoing discussions on aircraft purchases and agricultural market access without offering timelines or commercial specifics.
In small farming communities along Colorado’s Highway 52, residents describe rising gasoline prices and tightened household budgets, yet many remain steadfast supporters of President Donald Trump. Voters in Morgan and Weld counties - areas that delivered large margins for Trump in 2024 - tell reporters they accept higher energy costs if it reduces …
Since the Iran war began in late February, diesel prices have surged, forcing U.S. school districts from Washington state to Alaska and Texas to draw on emergency funds, alter operations and consider cuts to non-essential services. Districts report steep year-over-year increases in diesel costs, limited budget flexibility and difficult choices abou…
President Trump told reporters that Chinese President Xi Jinping agreed Tehran should reopen the Strait of Hormuz, a vital corridor for global oil and liquefied natural gas shipments. China’s foreign ministry, however, issued a statement criticizing the conflict and gave no sign it would intervene. The dispute has already disrupted shipping through…
Cuba's government announced near-doubling of retail gasoline and diesel prices, but most public filling stations in Havana remained shut and officials have not said when fuel sold at the new rates will be available. The island has received no oil shipments since a Russian tanker delivered roughly 700,000 barrels in late March, a supply Cuban author…
Chicago Board of Trade corn futures dropped to a four-week low on Friday after U.S.-China trade talks in Beijing produced no specific, verifiable commitments for purchases of American agricultural commodities. Traders had hoped for firm purchase volumes for grains but were left without detailed assurances; market participants also pointed to techni…
U.S. soybean futures fell to their lowest level in over two weeks after a summit in Beijing between U.S. and Chinese leaders did not produce specific purchase agreements for American agricultural commodities. Corn hit a three-week low and wheat weakened as market participants adjusted expectations that had factored in potential new China purchases.
Roberto Sanchez, a left-wing lawmaker and former cabinet minister, has advanced to Peru's presidential runoff against conservative frontrunner Keiko Fujimori after securing 12.03% of the vote in April's general election. Sanchez is campaigning on convening a constituent assembly to draft a new constitution, increased state oversight of mining and g…
Recent EPA mandates that require record volumes of biofuels, combined with sharply higher diesel prices amid the U.S.-Israeli war on Iran, have pushed U.S. refiners into profitability on renewable fuels. Large refiners report swings from losses to gains in renewable diesel and biodiesel units, while tradable RIN credits and tight diesel supplies su…
The United States and Brazil, the world's leading ethanol producers, are preparing for notable increases in exports as a number of fuel-consuming countries move to diversify supply amid ongoing Strait of Hormuz tensions. The U.S. has recorded a 20% rise in ethanol exports so far this year, while Brazil could more than double shipments in the 2026/2…
Northwest European gasoline refining margins dropped roughly 14% to $27.42 per barrel as inventories in the Amsterdam-Rotterdam-Antwerp hub rose and crude prices firmed. Market trading showed multiple barges of E5 and E10 gasoline changing hands among major oil companies and traders while monthly export volumes from the EU-27 and UK declined versus…
Euronext wheat fell for a third straight session as global grain markets reacted to announcements from a U.S.-China summit and signs of improved crop conditions in Europe. The September milling wheat contract dropped to 209.50 euros per metric ton after funds reduced long positions following summit statements about future Chinese agricultural purch…
President Donald Trump said aboard Air Force One on May 15 that he discussed the potential removal of sanctions on Chinese firms that buy Iranian oil during his two-day summit in Beijing with President Xi Jinping, and that he expects to decide within days. He also said U.S. and Chinese leaders discussed broader energy trade and agreed on pressure t…
