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
Russian President Vladimir Putin said it was premature to conclude whether the drone that crashed into an apartment block in Romania was Russian, suggesting it could have been Ukrainian and calling for forensic analysis. NATO has accused Moscow of reckless behaviour and vowed to defend allied territory after Romania said a Russian drone had struck …
JP Morgan has lowered its global refined zinc production forecast for 2026 by almost 300,000 metric tons, narrowing the market balance by a comparable amount. The bank now projects a global surplus of about 130,000 tons, expects mine supply growth to fall 5% year-on-year, and forecasts LME zinc prices to average $3,400-$3,500 per metric ton for the…
A senior Russian security official warned European governments that drones will keep appearing in their countries and disrupting civilian life after Romania reported a Russian drone crashed into an apartment block. NATO condemned the incident and vowed to defend alliance territory, while Moscow said attribution of the drone remains to be establishe…
European natural gas benchmarks ticked up on Friday as investors balanced reports of a possible 60-day extension to a U.S.-Iran ceasefire with ongoing concerns about regional supply disruptions and weaker-than-usual storage replenishment ahead of winter. Traders monitored modest gains at the Dutch TTF hub and in British futures while noting lower E…
Gold has retreated from its late-January peak and is currently probing several key support markers. Yardeni Research said the convergence of trend support, the 200-day moving average and a prior low should provide a stable base, and the firm retained aggressive long-term price forecasts while flagging a stronger dollar, rising rates and central ban…
Early optimism over reports of a potential 60-day U.S.-Iran ceasefire and a prospective reopening of the Strait of Hormuz sent oil prices tumbling this week, yet market attention largely shifted to a rally in chip stocks and broader equity gains. Traders remain guarded as Treasury yields and inflation data complicate the outlook for interest rates …
European commissioners met on May 29 to consider policies aimed at reducing the bloc's dependence on China for a range of inputs, including critical minerals and chemicals. Proposals under discussion include compelling companies to diversify supply chains and creating trade instruments to limit Chinese access to strategic sectors. The measures are …
Officials familiar with talks say the United States and Iran have reached a memorandum of understanding that would extend a ceasefire, allow shipping through the Strait of Hormuz, and lift a U.S. blockade and some sanctions, while giving negotiators 60 days to finalize a comprehensive agreement. Key disagreements - including Iran's nuclear programm…
Gold traded little changed in Asian hours as markets balanced news of a potential extension to a U.S.-Iran ceasefire against renewed inflation concerns after U.S. PCE data showed faster price growth. Spot gold was at $4,495.9 an ounce late Friday, while U.S. gold futures slipped 0.1%. Investors weighed safe-haven demand from geopolitical developmen…
A Greenpeace study concludes that illegal gold mining remains widespread across Brazil's Amazon, with so-called "ghost permits" from inactive licensed areas used to justify the sale of large quantities of gold. The report estimates 26.8 metric tons of gold, worth about $3.88 billion, were sold using permits tied to areas showing no mining activity …
Oil futures fell in Asian trade on Friday and were set for sharp weekly losses as markets absorbed reports that Washington and Tehran were close to a draft deal to extend a fragile ceasefire, while investors also digested hotter-than-expected U.S. inflation data and weaker first-quarter economic growth revisions. Brent and WTI were down, and both b…
Oil futures retreated modestly after reports of a possible extension to a U.S.-Iran ceasefire and steps to ease restrictions on shipping through the Strait of Hormuz. Comments from U.S. Vice President JD Vance that talks were close but not concluded kept prices from falling further. Brent and U.S. crude finished the session lower, capping a volatil…
Total independently held oil product inventories in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell roughly 1% in the latest week to 4.42 million metric tons, reaching their lowest level since November 2014, driven by decreases across most products even as gasoline stocks rose on increased blending activity, according to data fr…
European natural gas benchmarks rose on Thursday after renewed exchanges of strikes between U.S. forces and Iran undermined expectations for a near-term deal to reopen the Strait of Hormuz. The Dutch front-month TTF contract and British futures both moved higher as reports described strikes near Bandar Abbas, retaliation from Iran’s Islamic Revolut…
Bernstein's recent investor note, based on a survey of the world’s 50 largest listed oil and gas companies, identifies $75 per barrel as a sensible long-term oil price for equity valuations. The note reports a temporary drop in global marginal costs in 2025, an expected rebound in 2026, a net income breakeven of $50/bbl, and structural shifts in re…
Three months after the outbreak of hostilities involving Iran, the United States and Israel, military engagements continue and shipping through the Strait of Hormuz is effectively halted. Oil remains near $100 per barrel as blockades constrain physical flows, yet broader financial markets have shown limited disruption. Key U.S. data due this week -…
Gold has declined by more than 16% since U.S. and Israeli strikes on Iran at the end of February. UBS says the metal could regain losses as fears that higher energy prices will force central banks into tighter policy subside later this year. The bank cut its year-end forecast to $5,500 per ounce from $5,900 but maintains an expectation that gold wi…
U.S. and Mexican negotiators have convened formal discussions to modify the U.S.-Mexico-Canada Agreement (USMCA), with Washington pressing for stricter regional rules of origin that include a U.S.-specific minimum content requirement for cars and trucks assembled in Mexico. Talks are being held in a series of bilateral rounds through late July, exc…
The European Commission's energy department said on May 28 that disruptions around the Strait of Hormuz are already producing price effects across crude oil and major petroleum products in the EU, and warned markets could tighten further in the coming weeks - with jet fuel singled out as particularly vulnerable - if conditions do not improve. The u…
Gold prices slipped in Asian trading after a fresh round of U.S. strikes on Iran pushed oil and the U.S. dollar higher. Bullion remained confined to a trading range established over the last 10 days, pressured by dollar strength and rising Treasury yields amid concerns that a prolonged U.S.-Iran confrontation could stoke inflation. Attention also t…
Oil futures rose sharply in early Asian trading after reports that the U.S. carried out a second strike on Iran this week. Brent and WTI climbed about 1.9% following explosions near Bandar Abbas and reports that the U.S. military hit an Iranian military site. The moves come as markets weigh renewed hostilities against prior optimism that the Strait…
President Donald Trump told Cabinet members he is unconcerned that the November midterm elections will compel him to cut a deal with Iran, saying Iranian leaders miscalculated if they expected him to be pressured by the vote. His remarks come amid mounting voter unease about rising prices and a contentious Republican primary outcome in Texas that D…
Northwest European gasoline refinery margins declined to $21.25 per barrel on Wednesday. Market activity in the Argus trading window included 24,000 metric tons of E5 gasoline changing hands, with BP and Exxon selling to TotalEnergies. Broader dynamics noted in the market include limited relief from U.S. waivers on domestic fuel transportation, a J…
A cargo from the U.S. Strategic Petroleum Reserve arrived in California this month, marking the first recorded delivery of SPR crude to the U.S. West Coast, according to ship-tracking service Kpler. The movement reflects a realignment of shipping routes and trade flows after the Iran war affected Middle Eastern crude supplies, and involved a chain …
A Reuters analysis of federal and industry data finds that President Trump’s March waivers of the Jones Act have so far had minimal effect on rising U.S. gasoline prices. High charter rates for foreign-flagged tankers, constrained availability due to geopolitical disruptions, and the small share of domestic fuel flows moved under the exemption have…
