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
A senior Pentagon official told lawmakers the United States’ military campaign in Iran has cost $29 billion so far, up $4 billion from a late-April estimate. The comptroller’s office cited updated repair and replacement of equipment and operational costs, while Pentagon leaders said they continue to review the estimate. Questions remain about how t…
HSBC has raised its 2026 average Brent crude forecast to $95 per barrel, pointing to an extended effective closure of the Strait of Hormuz. In a note dated May 6, the bank said it expects transit and Gulf production to begin a gradual restart from mid-June, with near-normal system-level output and flows restored by the end of the third quarter of 2…
Premiums for Russia's Urals crude destined for Indian ports have fallen for June delivery as refiners cut back purchases in response to weakening refining margins. The margin-driven pullback has trimmed Urals' premium to Brent to $2-$4 a barrel from $6-$7 for May cargoes, while similar softening is visible for Russia's ESPO Blend shipments to China…
The Kremlin has reiterated Russian President Vladimir Putin’s recent comment that the conflict in Ukraine is drawing to a close, citing groundwork toward a peace process. Kyiv, however, including President Volodymyr Zelenskiy, has expressed scepticism about Moscow’s intentions, and fighting continued despite a short U.S.-mediated ceasefire.
A reportedly fragile ceasefire between Iran and its adversary is unnerving markets, sending Brent crude back toward $107 per barrel and lifting year-end oil futures above $90, while equity gains falter and bond markets brace for key Treasury auctions amid a forecasted pickup in U.S. inflation to 3.7% year-on-year for April.
Norway now expects 721.1 billion crowns ($78.71 billion) in state revenue from oil and gas production for the year, up from an earlier projection of 557.4 billion crowns. The minority Labour government said the increase stems from elevated energy prices amid the Iran war and that the additional proceeds will be transferred to the country's $2.2 tri…
As U.S. and Chinese leaders prepare to meet in Beijing, several energy and agricultural transactions that U.S. officials expect to discuss remain subject to Chinese tariffs. This article lists the current tariffs China applies to major U.S. exports, specifying how each rate is composed and identifying areas where additional levies or quota mechanis…
U.S. President Donald Trump will visit Beijing for a two-day summit with President Xi Jinping on May 14-15. U.S. officials say part of the agenda could include a deal for China to increase purchases of U.S. energy. Tariffs imposed during the U.S.-China trade war effectively halted most Chinese imports of U.S. oil and liquefied natural gas (LNG), th…
U.S. Secretary of State Marco Rubio held individual phone calls with Australian Foreign Minister Penny Wong and British Foreign Secretary Yvette Cooper to talk about Iran and efforts to restore freedom of navigation through the Strait of Hormuz, the State Department said. The discussions come amid what the State Department described as a virtual cl…
Gold traded largely unchanged in Asian hours as markets weighed a tenuous ceasefire between the U.S. and Iran, the prospect of a high-profile meeting between Donald Trump and Xi Jinping, and imminent U.S. inflation data. Oil's elevated price and a firmer dollar constrained bullion gains, while other precious metals showed mixed moves.
Oil futures rose in early Asian trading after a day of strong gains, as fragile negotiations between the United States and Iran left supply concerns unresolved. Brent and U.S. West Texas Intermediate both increased modestly, while market participants weighed restricted flows through the Strait of Hormuz, planned U.S. loans from the Strategic Petrol…
Oil prices were largely steady in Asian trade following a near 3% rise in the prior session, as U.S. President Donald Trump said the ceasefire with Iran was “on life support,” raising fresh concerns about the durability of the truce and implications for global supply routes such as the Strait of Hormuz.
Maryland Governor Wes Moore pressed for reforms to PJM Interconnection, proposing long-term fixed-price contracts and a requirement that data centers contribute to the expensive infrastructure needed to serve them. The call comes as demand from large server facilities has outpaced new supply across PJM's 13-state footprint, sending capacity payment…
The U.S. announced a loan of 53.3 million barrels of crude from the Strategic Petroleum Reserve to energy companies to help steady markets disturbed by the U.S.-Israeli conflict with Iran. Nine firms borrowed about 58% of 92.5 million barrels offered; the Department of Energy aims to release 172 million barrels as part of a broader IEA coordination…
A Reuters/Ipsos nationwide online poll completed on Monday finds about 66% of U.S. adults believe President Donald Trump has not clearly outlined the objectives of U.S. military involvement in Iran. The four-day survey also records growing household financial stress from higher gasoline costs and a modest rise in presidential approval to 36%.
President Donald Trump on Monday described the ceasefire with Iran as 'on life support' after rejecting Tehran's response to a U.S. proposal to reopen negotiations. Iran's reply pressed for a comprehensive end to hostilities, compensation, and removal of sanctions while asserting control over the Strait of Hormuz. Trump also asserted that Iran woul…
President Donald Trump said he favors pausing the 18 cent federal gasoline tax for a limited time and allowing it to be phased back in once pump prices fall. He also said a bailout for airlines had not been formally presented and that carriers were "doing not badly", even as U.S. gasoline prices remain elevated following the start of the Iran war.
US Cocoa Futures jumped 11.11% in morning trade, hitting a session high of 4,709.5 before trading at 4,646.5, after a weakening US Dollar Index set off intense technical short covering. Large speculative short positions held by New York funds, a revised forecast of a much smaller 2026/27 global surplus from StoneX, financial stress at Ghana’s state…
OPEC's crude production fell by 830,000 barrels per day in April to 20.04 million bpd, the lowest level recorded since at least 2000 when excluding membership changes. The decline occurred amid a closure of the Strait of Hormuz linked to the U.S.-Israeli conflict with Iran, which curtailed exports and prevented planned production increases by membe…
European natural gas futures rose on Monday after U.S. President Donald Trump appeared to dismiss Iran’s reply to a U.S. plan to end active hostilities. The Dutch TTF front-month contract climbed as concerns persisted over shipping disruptions in the Strait of Hormuz and recent attacks on a major Qatari production facility that have constrained LNG…
Saudi Aramco’s chief executive, Amin Nasser, said ongoing disruptions in the Strait of Hormuz are depleting roughly 100 million barrels of oil from global markets every week. Aramco can raise output to a maximum sustainable 12 million barrels per day within three weeks, but the company expects demand rationing to continue until trade and shipping t…
U.S. President Donald Trump will meet Chinese President Xi Jinping for two days of talks in Beijing focusing on a range of strategic issues including Iran, Taiwan, artificial intelligence, nuclear weapons and trade arrangements. Officials previewing the visit say the leaders will weigh extending a rare earth minerals agreement and may announce fram…
The U.S.-Israeli conflict with Iran has intensified tensions between Washington and Beijing and is set to be a central topic at the May 14-15 summit between U.S. President Donald Trump and China’s Xi Jinping in Beijing. Key points include ceasefire diplomacy, threats to China’s energy supplies, and escalating U.S. sanctions targeting Chinese buyers…
Demining teams around Myrotske and Ivankiv in central Ukraine are deploying a mix of traditional manual detection, remote-operated excavation and artificial intelligence trained on high-resolution drone imagery to locate and remove unexploded ordnance left after occupation. Organisations say the scale of contamination is vast and progress is being …
The Iran conflict has reached its 11th week with no clear resolution, keeping the Strait of Hormuz effectively closed to oil and cargo shipping and lifting oil prices. Markets have shown resilience, aided by tech and chip strength, but inflation readings, U.S. labor data and geopolitical risks may introduce new stress to growth and prices this week…
