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
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 …
South Korea's finance minister held talks with Gulf Cooperation Council ambassadors to secure uninterrupted deliveries of key energy and petrochemical feedstocks and to press for the protection of Korean vessels and crews transiting the Strait of Hormuz, a vital maritime chokepoint that has been disrupted since the outbreak of war involving the U.S…
U.S. President Donald Trump and Israeli officials increased pressure on Iran to reopen the strategically vital Strait of Hormuz, issuing threats against Iranian energy infrastructure as Tehran and U.S. forces continued searching for a missing U.S. crew member from one of two downed American warplanes. The conflict, now in its sixth week, has escala…
Taiwan's economy minister says an energy minister from a 'major' LNG-producing country has assured Taipei of support for its natural gas needs, as the island shifts some supplies away from the Middle East following the Iran war. State-owned CPC reports crude stocks and petrochemical feedstock supplies remain stable, while a new U.S. LNG contract wi…
Indian refiners have taken delivery of Iranian oil for the first time since May 2019, the oil ministry said, as supply disruptions linked to the U.S.-Israel war and pressure on routes through the Strait of Hormuz strain global flows. The ministry added there is no payment obstacle for Iranian crude imports and that India has secured full crude requ…
Russian regional officials reported that combined Ukrainian drone and missile strikes on southern Russia resulted in at least one fatality, four serious injuries, damage to commercial infrastructure in Taganrog, and a blaze aboard a foreign-flagged vessel in the Sea of Azov. Officials in Rostov and Samara regions provided the account of events, wit…
Iranian forces were reported to be searching for a missing U.S. pilot after two American warplanes were downed over Iran and the Gulf, officials said on April 4. Two airmen were rescued, while one pilot remains unaccounted for as Iranian units comb terrain near a crash site. The incidents highlight ongoing risks to U.S. and Israeli aircraft amid a …
Australian authorities have encouraged people to proceed with Easter travel while urging restraint at the pump, after hundreds of petrol stations - predominantly in regional areas - reported outages amid fuel supply pressure linked to the ongoing war in Iran. Energy Minister Chris Bowen provided national stock figures and advised consumers to limit…
Recent U.S. intelligence assessments, according to three anonymous sources, conclude that Iran is unlikely to restore free transit through the Strait of Hormuz soon. The reports find Tehran views its ability to disrupt maritime traffic as its principal leverage over the United States and could continue to constrict shipments to keep energy prices e…
Rising fuel prices and supply disruptions tied to the Iran war and a blockade of the Strait of Hormuz have led many Australians to abandon or postpone Easter travel plans. Widespread cancellations are affecting households planning road trips and are likely to weigh on transport and tourism activity during a traditionally busy holiday period.
The S&P Global UAE Purchasing Managers' Index eased to 52.9 in March from 55.0 in February, marking the slowest growth in the non-oil private sector since July 2025. Output and new order subindices registered notable declines, supplier delivery times lengthened and business optimism fell to a multi-year low.
