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
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,…
Bernstein analyst Irene Himona calculates that oil would need to reach an FY26 annual average near $155 per barrel to recreate the same 5.2% oil burden that historically suppresses consumption. The firm frames recent Brent volatility as a war-driven price discovery process after the Iran conflict, with infrastructure attacks and an unprecedented cl…
Japan has indicated it will support a coordinated release of oil reserves by International Energy Agency members as the conflict in Iran threatens to raise energy import costs and weigh on global demand. Trade Minister Ryosei Akazawa said the measure could help stabilize international markets and that he will join an online meeting with G7 counterp…
G7 energy ministers assembled in Paris to discuss a possible coordinated release of oil reserves intended to calm markets, French Finance Minister Roland Lescure said. The meeting took place at the International Energy Agency at 1:45 p.m. local time, with many participants joining remotely. Lescure, speaking from the sidelines of a nuclear energy c…
Gabon has resumed talks with the International Monetary Fund as it seeks a loan to stabilise public finances and unlock investor funding. While an IMF-backed programme could shore up the Central African oil producer’s balance sheet and relieve pressure across the CEMAC region, concerns about weak statistical transparency, governance continuity and …
European natural gas benchmarks tumbled in early trading after President Trump said the war in Iran will end "very soon," prompting a sharp sell-off across the energy complex. The front-month Dutch TTF contract fell 15.6% to 47.68 euros per megawatt-hour as crude oil weakness pressured related markets. Despite the drop, Europe remains exposed becau…
Saudi Aramco has cautioned that prolonged disruption to shipping in the Strait of Hormuz tied to the Iran war would have 'catastrophic consequences' for global oil markets. CEO Amin Nasser highlighted low inventories and accelerated drawdowns while confirming a small, contained fire at the Ras Tanura refinery is being brought back online. Regional …
U.S. President Donald Trump spoke by phone with Russian President Vladimir Putin on March 10 in a conversation that covered the war in Iran, proposals for ending the Ukraine conflict and strains on global oil markets. The exchange occurred after Putin warned that the U.S.-Israeli attack on Iran had triggered a sharp rise in oil prices and raised th…
Gold strengthened in Asian trading after an erratic session, with markets focused on signs of de-escalation in the U.S.-Israel war with Iran and on possible oil supply disruptions. Despite the uptick, bullion stayed within a narrow range established over the past week as investors weighed safe-haven flows against inflation concerns and equity marke…
Oil futures dropped sharply after U.S. President Donald Trump expressed optimism that the Middle East conflict could end soon and diplomatic contacts suggested pathways toward a quick settlement. The retreat came after prices surged above $100 a barrel the previous session amid supply cuts by Gulf producers and heightened concerns about shipping di…
Oil prices eased in early Asian trading after a turbulent session the previous day. Markets pared sharp gains following U.S. President Donald Trump’s comments that an end to the Iran conflict may be near and his reference to measures that could mitigate crude supply disruption, including potential waivers on sanctioned oil sales.
