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.
2,160 total articles
Goldman Sachs has lowered its 2026 copper price forecast to $12,650 per tonne from $12,850, citing weaker demand expectations amid slower global growth and an energy price shock tied to Middle East disruptions. The bank raised its 2024 surplus estimate and emphasized short-term volatility and downside risk while keeping a long-run price target of $…
Gold prices fell for a third consecutive session in Asian trading, pressured by rising inflation expectations tied to Middle East tensions and higher oil prices. Spot gold and U.S. futures declined as investors weighed the potential for prolonged elevated interest rates, while diplomatic efforts over the Strait of Hormuz made little progress.
Oil futures rose for a third straight session as traders weighed the possibility of a wider Middle East escalation ahead of a U.S. deadline aimed at reopening the Strait of Hormuz. Concerns over tanker disruptions and faltering ceasefire talks between the U.S.-backed proposal and Iranian demands tightened supply expectations and supported higher pr…
Air New Zealand announced a further reduction in services across May and June and said it will increase fares, citing a sharp rise in jet fuel costs tied to the ongoing Iran war. The carrier said the latest consolidation will impact around 4% of flights and about 1% of passengers over the two-month period, and that affected customers will be inform…
A 60-day waiver of the Jones Act that began March 17 allowing foreign-flagged vessels to move fuel between U.S. ports has so far not increased domestic oil shipments, according to trade data and industry commentary. Instead, U.S. fuel exports surged to a record as refiners and shipowners capitalized on stronger international pricing and long-haul f…
A sharp rise in liquefied petroleum gas (LPG) costs driven by the U.S.-Israeli war on Iran and high premiums from a Petrobras auction have squeezed margins for resellers delivering the government’s People’s Gas program. With rules preventing price pass-through, many resellers say they are losing money and may stop accepting vouchers, threatening su…
President Donald Trump publicly demanded that the journalist who first reported the recovery of an airman in Iran disclose how they obtained the information, threatening imprisonment for refusal. The president said the disclosure endangered an ongoing operation to recover a second airman; that second airman was later successfully rescued. The admin…
President Donald Trump told reporters that Iran could be neutralized in a single night if it failed to reach a ceasefire agreement by Tuesday night, warning of broad attacks on power plants and other critical infrastructure. Senior U.S. officials described escalating strike activity and provided an account of a multi-day search-and-rescue operation…
The head of Iraq’s state-run Basra Oil Company says the country could lift crude shipments back to roughly 3.4 million barrels per day within a week if hostilities cease and the Strait of Hormuz is reopened. Production has plunged amid the effective closure of the Strait and recent strikes, with southern fields operating at a fraction of their pre-…
The Nuclear Regulatory Commission voted to phase out its long-running agency-led 'force-on-force' security drills at operating nuclear reactors, transitioning to a training-oriented approach with independent oversight after 2028. The change, which removes direct NRC-led mock commando-style probes that have been in place since 1991 and were reinforc…
Morgan Stanley economists, including Seth Carpenter, argue that the main danger for global investors is not a fresh oil price spike but a scenario in which oil prices remain elevated for an extended period because of partial disruptions around the Strait of Hormuz. Such persistence would produce a stagflationary shock - weighing on consumption and …
The effective closure of the Strait of Hormuz after late-February strikes and the broader U.S.-Israeli-Iran confrontation triggered an unprecedented energy shock that drove Brent crude up 60% in March. Nations with pipeline and port alternatives - notably Iran, Oman and Saudi Arabia - have seen their oil export revenues rise, while Iraq, Kuwait and…
A series of U.S.-Israeli strikes have killed multiple senior Iranian leaders across political, intelligence and military ranks. The losses encompass the Supreme Leader, senior advisers, intelligence chiefs and commanders within the Islamic Revolutionary Guard Corps and related forces, according to Iranian and Israeli statements and state media repo…
The Kremlin said the conflict involving Iran is expanding in scope and economic impact, describing the entire Middle East as "on fire." Kremlin spokesman Dmitry Peskov said Russia had seen U.S. social media threats aimed at Iran but opted not to comment directly, and warned of very negative consequences for the global economy as the geography of th…
Spot premiums for U.S. West Texas Intermediate (WTI) crude have risen to record highs as Asian and European refiners compete for barrels from the Atlantic Basin to offset oil flows interrupted through the Strait of Hormuz. The spike in premiums and higher freight rates are increasing costs and widening losses for refiners on both continents, placin…
Iran has developed a set of positions and demands in response to ceasefire proposals transmitted through intermediaries, the foreign ministry said. Spokesperson Esmaeil Baghaei told a press conference that negotiations cannot proceed under ultimatums or threats to commit war crimes, and that previous U.S. demands, including a 15-point plan, were di…
Gold prices dipped in Asian trade on Monday after a weekly gain, as a firm U.S. stance toward Iran on reopening the Strait of Hormuz collided with reports that negotiators were exploring a temporary ceasefire. The conflicting signals left bullion trading lower, with investors also digesting resilient U.S. payrolls data and a firmer dollar.
President Donald Trump issued an ultimatum demanding Iran reopen the Strait of Hormuz by his Tuesday deadline, warning of severe strikes on Iranian infrastructure if it did not comply. The announcement came as U.S. and Israeli forces continued air and missile operations against Iran, Tehran expanded attacks on Gulf energy targets, explosions were r…
Crude futures climbed in Asian trade as markets reacted to President Donald Trump’s ultimatum setting an 8 p.m. Eastern Time Tuesday deadline for Iran to reopen the Strait of Hormuz. Brent and WTI held significant gains after steep rises in the prior session, while OPEC+ pledged limited additional output that traders say may not quickly reach marke…
U.S. special operations forces conducted a high-risk extraction of a wounded weapons officer from an F-15 shot down inside Iran, an operation announced by the U.S. president early Sunday. The rescue unfolded amid escalating strikes across the Gulf, threats from Washington to target Iranian energy and transport infrastructure if the Strait of Hormuz…
Ukrainian President Volodymyr Zelenskiy met with Syrian President Ahmed al-Sharaa in Damascus on April 5 to pursue enhanced security cooperation and explore joint measures on food security. The visit is part of a wider Middle East tour in which Kyiv has been promoting its counter-drone and missile defence experience developed during the war with Ru…
Serbian and Hungarian leaders announced the discovery of a powerful explosive near a gas pipeline section outside Kanjiza, close to the Hungary-Serbia border. The site is linked to the Turkstream system that conveys Russian gas through Turkey to Central Europe. The finding, disclosed by Serbia's president and confirmed by Hungary's prime minister, …
OPEC+ delegates are anticipated to approve a planned increase in official production quotas at a Sunday virtual meeting, but analysts say the adjustment will be largely 'on paper' given the effective closure of the Strait of Hormuz. The waterway shutdown and damage to Gulf energy infrastructure have removed an estimated 12 to 15 million barrels per…
OPEC+ members are expected to discuss and likely approve a May quota increase that would have little immediate effect on global supply because the U.S.-Israeli war with Iran has shut the Strait of Hormuz and constrained exports from key Gulf producers. Other producers, including Russia, are unable to lift output due to sanctions and damage from the…
Saudi Arabia's non-oil private sector returned to contraction in March for the first time since August 2020, with the Riyad Bank Saudi Arabia Purchasing Managers' Index (PMI) compiled by S&P Global sliding to 48.8 from 56.1 in February. New orders and output declined, export demand plunged, and firms reported halted shipments and greater logistics …
