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
President Donald Trump announced on Truth Social that an oil refinery in Brownsville, Texas, tied to the America First Refining project, is opening and thanked Indian energy firm Reliance for investing. He described the facility as the "cleanest refinery in the world" and said the development would bolster U.S. markets, national security and energy…
Iranian authorities say they have detained dozens of people, among them a foreign national whom they accuse of spying for the United States and Israel and acting as a proxy for two Gulf countries. The arrests come as Tehran and its adversaries remain in an active conflict marked by reciprocal strikes and broader security tensions.
The Revolutionary Guards exerted decisive influence to secure Mojtaba Khamenei's elevation to supreme leader, pushing past hesitation from senior clerics and political figures. The selection, completed nearly 48 hours before Tuesday evening, has not been followed by any public statement from the new leader, whose condition is unclear after reports …
Chevron and Shell are nearing significant oil and gas production agreements in Venezuela that would mark the first major foreign-led production expansions since the U.S. capture of President Nicolas Maduro in January. Preliminary terms would allow Chevron to extend operations into the Ayacucho 8 block near Petropiar in the Orinoco Belt, while Shell…
The U.S. Navy has repeatedly turned down almost-daily appeals from the shipping sector for military escorts through the Strait of Hormuz since the outbreak of the war on Iran, concluding that the risk of attacks remains too elevated to permit escort missions. This stance, communicated in regular briefings with industry counterparts, contrasts with …
Jose Antonio Kast takes office after a market-fueled run-up tied to promises of deregulation, spending cuts and faster growth. The international fallout from the Iran war has since unsettled global commodity prices, squeezing Chile’s fiscal outlook and complicating the implementation of the incoming administration’s economic priorities.
The White House has told the public that the recent rise in U.S. oil and gas prices is temporary and should reverse once the stated objectives of the joint Israeli-U.S. air campaign against Iran are achieved. Press secretary Karoline Leavitt said the administration and its energy team are closely monitoring markets, engaging industry leaders and ex…
The Trump administration asked Israel to refrain from further attacks on Iranian energy infrastructure, particularly oil facilities, according to Axios citing three sources. The appeal - the first U.S. effort to limit Israeli military action since the joint campaign began ten days earlier - was conveyed at senior levels and directly to IDF Chief of…
Minutes after the president highlighted falling gasoline prices as evidence of economic recovery, pump costs reversed course. A near 60-cent rise in gasoline priced two weeks after the State of the Union - tied to air strikes on Iran on February 28 and the region-wide escalation that followed - has quickly become a central political vulnerability f…
Oil prices reversed sharply on Tuesday, plunging over 13% after the prior session's spike to multi-year highs. Comments from U.S. President Donald Trump that the conflict with Iran could end quickly, plus an exchange with Russian President Vladimir Putin, eased immediate concerns about prolonged supply disruption and prompted a sell-off. Despite th…
The U.S. Energy Information Administration raised its projection for domestic crude production in 2027, reflecting the delayed production response to recent price strength caused by supply disruptions across key Middle East producers. The agency expects U.S. output to grow by 220,000 barrels per day in 2027 to 13.83 million b/d, and has also increa…
The U.S. Energy Information Administration projects Brent crude will trade above $95 a barrel over the next two months as disruptions around the Strait of Hormuz reduce Middle Eastern oil flows. The EIA expects those dislocations to ease later in the year, with Brent declining toward roughly $70 by year-end and below $80 in the third quarter. U.S. …
A supertanker carrying two million barrels of Iranian crude traversed the Strait of Hormuz, ship tracking data show. The vessel, flagged in Guyana and named Cuma, is on a U.S. sanctions list and was recorded with China as its destination. This transit is the sixth such Iranian oil tanker passage since February 28, following five prior tankers that …
The Pentagon is assessing options to escort commercial vessels through the Strait of Hormuz after traffic through the channel has nearly halted, heightening concerns about global energy and fertilizer supplies. Iran’s threats and asymmetric maritime capabilities, logistical limits of naval escorts, raised insurance costs and the vulnerability of al…
The U.S. Energy Information Administration reported a 3% decline in U.S. crude oil exports in 2025 versus 2024, marking the first annual reduction since 2021. Exports averaged 4.0 million barrels per day, down slightly from the previous two years, even as production rose 3% to a record 13.6 million bpd. Regional shipments to Europe and the Asia and…
Speaking in Jerusalem on March 10, Israel's foreign minister said the country does not intend an open-ended conflict with Iran and will coordinate with the United States on when to cease hostilities. The war, now in its 11th day, has spread across the region with Iranian strikes hitting neighboring states and Israel engaging Hezbollah in Lebanon wh…
French Finance Minister Roland Lescure said countries around the world stand ready to take steps to stabilize the oil market and have asked the International Energy Agency to prepare scenarios for a possible release from strategic stockpiles. Lescure highlighted the urgency of the situation, pointed to cooperation from major economies including the…
German Chancellor Friedrich Merz said Europe is alarmed by a mounting and dangerous escalation in the U.S. and Israeli military action against Iran, noting there is no apparent joint strategy to bring the conflict to a prompt conclusion. He expressed concern about damage to global energy flows, regional stability and the potential collapse of Irani…
HSBC has increased its 2026 average price forecasts for Brent and WTI crude to $80 and $76 per barrel respectively, following sharp price moves after the closure of the Strait of Hormuz and reduced shipments from major OPEC producers. Benchmark prices remain volatile after briefly topping $119 and rising more than a quarter since the conflict began…
Bank of America strategist Savita Subramanian says the fourth quarter marked the beginning of a sizeable rotation among asset managers from gold into oil. Positioning moved into Energy ahead of recent geopolitical strikes, driving sharp gains in oil and coinciding with cuts to gold and commodity-exposed Materials. Within equities, managers trimmed …
European Commission President Ursula von der Leyen said reducing the share of nuclear generation in Europe was a strategic error, arguing the shift left the bloc more exposed to volatile and costly fossil fuel imports. The Commission will offer a 200-million-euro guarantee for private investment in advanced nuclear technologies, funded from the EU …
Goldman Sachs' commodities team estimates that, absent the current Iran-related supply shock, the fair value for crude oil would sit in the low $60s per barrel. The bank's co-head of global commodities research, Daan Struyven, says that sustained disruptions to flows through the Strait of Hormuz could push fair-value Brent materially higher, with m…
Qatar has signaled a desire to deepen its defence partnership with the United States following Iranian missile and drone strikes that hit Qatari territory. While Doha continues to view its current agreements as a key deterrent, a government spokesperson said those arrangements should be reinforced to remain effective if the conflict escalates. The …
Bank of America's technical framework, as articulated by strategist Paul Ciana, views the recent Brent rally above $100 and spike to $119.50 as consistent with a short-term peak ahead of consolidation or correction. Nonetheless, the model still allows for headline-driven tail-risk outcomes of $134 and $150, although with lower probability after the…
Crude oil has seen extreme intraday swings this week, at times moving more than $30 per barrel and briefly reaching $120 before retreating below $100. The moves followed mixed signals from U.S. political remarks and Iranian responses, leaving markets jittery but not uniformly bearish. Global equities and bond markets reacted, U.S. futures steadied,…
