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
Jefferies has raised its long-term uranium price forecast from $70 to $95 per pound, arguing that higher production costs, capital intensity and execution risk mean current prices are insufficient to finance the new supply required. The brokerage expects primary production to peak at 243.4 million pounds in 2033, with China accounting for the bulk …
Piper Sandler has increased its second-half 2026 Brent crude oil price projection by $10 per barrel to $90/b, pointing to a persistent Middle East supply stalemate and substantial cuts to Russian refining capacity that have tightened the global oil market more than expected. The firm calls the change largely a mark-to-market move, highlights Q3 rea…
The World Meteorological Organization says the current El Niño is likely to remain through February 2027 and could become the strongest on record, driven by exceptionally warm Pacific Ocean temperatures. Officials warned of sustained shifts in rainfall and temperature patterns, ongoing impacts on soft commodities and food security, and elevated glo…
European and British wholesale natural gas prices fell for a second straight session as trading desks secured gains following a multi-day rally that pushed benchmark curves above levels seen in the fifth month of the Middle East conflict. While front-month contracts eased, market risk premia tied to ongoing U.S.-Iran military engagement and constra…
Nepal faces an extensive rebuilding effort after a glacier collapse on August 26 unleashed ice, rock and mud across border communities, leaving at least 1,204 dead and more than 4,200 people missing. Officials estimate about 7,500 homes were destroyed and roughly 20,000 dwellings will need to be rebuilt. Rescue teams, supported by international exp…
Oil prices retreated modestly as traders recalibrated risk following renewed U.S.-Iran military action. Brent and U.S. WTI both pulled back after session swings earlier in the week, while shipping data showed lower-than-average transits through the Strait of Hormuz amid tightened enforcement by Iran.
U.S. crude oil production rose modestly in June to 13.79 million barrels per day from 13.76 million in May, while demand for crude and petroleum products increased to 20.74 million barrels per day. Natural gas production also climbed to 135.5 billion cubic feet per day, with Texas recording a new monthly high of 39.2 billion cubic feet per day, acc…
West African crude oil differentials were unchanged on Wednesday as recent price increases - attributed to Middle East supply disruptions and higher freight expenses - depressed buying interest. Nigerian grades such as Bonga and Forcados are assessed at about plus $6 to dated Brent, a level that has prompted some buyers to step back. Freight rates …
European low-sulphur gasoil (diesel) margins were little changed after U.S. Energy Information Administration data showed a surprise increase in U.S. distillate inventories. Futures for low-sulphur gasoil held close to record levels, while U.S. distillate stocks rose by 0.8 million barrels to 104.2 million barrels last week. Analysts had expected a…
U.S. energy giant Chevron and Italy's ENI formalized agreements with Venezuela to advance large oil project expansions intended to lift the country's crude output. Most of the pacts are linked to project expansions under renegotiation with the oil ministry and state oil firm PDVSA as part of contract migrations following an oil reform enacted in Ja…
U.S. commercial crude oil inventories declined by 4.5 million barrels in the week ending August 28 to 424.5 million barrels, according to Energy Information Administration data. The draw was larger than analysts had forecast. Refinery runs increased and utilization rose, while gasoline inventories fell and distillate supplies unexpectedly climbed. …
OPEC+ is expected to leave its October oil production policy unchanged at a scheduled meeting, according to sources. The decision would follow the completion of one phase of production-cut rollbacks this month and precedes detailed negotiations over 2027 output baselines, which are being informed by an external capacity review due at the end of Sep…
Chicago Board of Trade wheat futures are projected to start Wednesday lower by 6 to 8 cents per bushel when trading resumes at 8:30 a.m. CDT, after touching their strongest levels since February 2023 earlier in the session. The recent rally and subsequent retreat have been driven by disruptions to grain exports from the Black Sea region amid escala…
U.S. Treasury Secretary Scott Bessent said the Trump administration is considering targeting airlines, the maritime sector and digital assets as part of efforts to tighten economic pressure on Iran. Speaking after a G20 meeting in North Carolina, Bessent urged countries and firms to refrain from supporting Tehran, and indicated further steps - incl…
A sustained heat wave is increasing the likelihood of power outages across a wide swath of the United States as grid operators in the Midwest and Mid-Atlantic prepare for strained supply. The U.S. Department of Energy authorized PJM to bring backup generation online as a precaution before escalating to a level 3 energy emergency, while MISO forecas…
European and U.K. wholesale natural gas benchmarks rallied to their highest levels since 2023 after a fresh escalation of military activity in the Persian Gulf and an intensifying supply squeeze. Traders said disruptions to commercial transit through the Strait of Hormuz, combined with below-average regional storage refill rates, have elevated risk…
A fresh round of strikes in the Iran conflict has sent crude and natural gas prices higher, intensifying pressure on global government bond markets. The jump in energy costs is concentrating stress on 10-year benchmark yields - a move that has spilled into equities and currencies ahead of likely rate increases from major central banks this month.
Chevron has reached updated agreements with Venezuela to expand its joint ventures, commit more than $7 billion over the next five years, and pursue a production target near 600,000 barrels per day. The accord includes improved fiscal, commercial and legal terms and additional acreage in the Orinoco Belt, and follows separate negotiations from a re…
After a fresh round of U.S. strikes late Tuesday and Iranian missile fire at facilities it described as U.S. assets in Jordan, Bahrain, Kuwait and Iraq, Tehran retains several means to respond if the confrontation escalates or if Washington intensifies efforts to choke its economy. Potential responses include expanded attacks on Gulf states and ene…
U.S. Central Command said U.S. forces completed a new wave of strikes on Iran late Tuesday, targeting Islamic Revolutionary Guard Corps (IRGC) infrastructure. Iranian authorities responded with attacks on U.S. assets in the region and reported civilian casualties from strikes near the Strait of Hormuz. The back-and-forth marks a major escalation th…
Crude prices rose for a third consecutive session after new exchanges of strikes between U.S. and Iranian forces and attacks on commercial vessels around the Strait of Hormuz raised concerns about extended disruptions to oil flows. Brent futures climbed to $96.18 a barrel, while U.S. WTI settled near $91.65, supported by constrained tanker traffic …
Oil futures climbed nearly 1% in early trade as the United States and Iran exchanged strikes overnight, amplifying fears of disrupted crude supplies and prolonging a recent rally. Brent rose to $95.52 a barrel and U.S. West Texas Intermediate reached $91.02 as markets weighed the prospect of tighter flows through the Strait of Hormuz and ongoing at…
Tropical Storm Edouard moved out of the Gulf of Mexico and struck the Gulf Coast near the Texas-Louisiana border on Sept. 1, bringing sustained winds up to 60 mph and heavy rainfall. The National Hurricane Center reported landfall near Johnson Bayou in southwestern Louisiana at about 2:20 p.m. Central time (1920 GMT). The storm pushed west into sou…
West African crude differentials climbed above market expectations on Monday, prompting buyers to adopt a wait-and-watch stance even as freight rates eased slightly. Traders reported Nigerian grades trading at roughly $6 over dated Brent for October delivery, and market participants said fair value would require a $1-2 fall in differentials. A Dang…
India has opened applications for the final 202,550 metric tons of raw sugar under a previously approved duty-free import quota of 1 million tons. The Directorate General of Foreign Trade is accepting submissions from eligible sugar millers and refiners after earlier allocations totalling 797,450 tons. The quota, valid until October 31, was approve…
