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.
1,590 total articles
Financial markets have largely absorbed the latest escalation in U.S.-Iran tensions, with hopeful signs of resumed talks coinciding with a retreat in oil prices and a rebound in equities. Investors are treating developments as noise rather than a lasting shock, even as a U.S. blockade of Iranian ports takes effect. Corporate earnings, U.S. economic…
The World Steel Association has revised down its global crude steel demand forecast for 2026 to 0.3%, citing a significant decline in Middle East consumption driven by the Iran war. The body expects demand to recover more strongly in 2027, while forecasting a small rise in global steel use next year and noting continued weakness in Chinese output t…
European natural gas prices fell on Tuesday after a session of sharp gains, as investors assessed uncertainty over flows through the Strait of Hormuz and reports of continuing U.S.-Iran engagement. The Dutch front-month TTF contract eased from a spike recorded the previous day amid a U.S.-led naval blockade of Iranian ports and growing concerns abo…
More than 3 million U.S. truckers are contending with record high diesel prices after the Iran war disrupted shipping through the Strait of Hormuz. National average retail diesel has risen $1.89, or 50%, since that disruption, and U.S. fleets are averaging $5.52 per gallon in fuel spend, squeezing small operators, reducing miles driven for many car…
The International Energy Agency has sharply lowered its outlook for global oil demand and supply, forecasting declines from 2025 levels amid a major disruption to shipments and production stemming from conflict in the Middle East. The agency highlighted a dramatic near-term drop in consumption and production metrics, while noting a short ceasefire …
Five sources say negotiating teams from the United States and Iran could reconvene in Islamabad later this week, after recent high-level meetings ended without agreement. Officials involved report no firm date has been set, though Friday through Sunday remains available. The previous encounter was the first direct interaction between U.S. and Irani…
National Gas, which runs Britain’s National Transmission System, says its 2026 Gas Summer Outlook indicates the country should have adequate gas supply to satisfy forecast summer demand under current conditions. The assessment points to stable overall demand versus last year, a drop in gas use for power generation, and continued reliance on UK Cont…
Gold climbed modestly on Tuesday but remained confined to a narrow band as investors awaited the potential fallout from a newly announced U.S. naval blockade of Iran and watched for U.S. producer price inflation data. Broader precious metals followed with small gains as markets weighed the inflationary implications of disruptions to energy supplies…
The Philippines has requested that the United States extend a waiver allowing purchases of Russian oil and petroleum products. Energy Secretary Sharon Garin said the waiver expired on April 11 and that Manila is optimistic about obtaining the extension, while concurrently preparing alternative supply arrangements and pursuing broader diversificatio…
A Chinese-owned tanker subject to U.S. sanctions navigated through the Strait of Hormuz on April 14, according to shipping trackers, becoming the first vessel to exit the Gulf since a U.S. blockade began. The Rich Starry, carrying about 250,000 barrels of methanol loaded in the UAE, and another sanctioned ship, Murlikishan, underscore enforcement a…
Oil prices fell sharply in early Asian trading after the United States began a blockade of Iranian ships and ports, prompting reassessment of supply risk even as indications emerged that a fragile two-week ceasefire may still be holding. West Texas Intermediate futures declined around 2.1% to $90.98 a barrel as shipping data and political statement…
Chevron and Venezuela’s state oil company signed two agreements to reconfigure assets in the Orinoco Belt, increasing Chevron’s stake in a key joint venture and swapping a small offshore gas area and a western crude field for a new heavy oil block. The pacts form part of a wave of expansion deals following recent policy changes and a U.S. reconstru…
Across U.S. cities from Boston to Houston and Denver, drivers are changing habits as fuel prices climb amid the Iran war. Average U.S. gasoline and diesel prices have risen to multi-year highs, straining household budgets and commercial operators while analysts warn of a lingering geopolitical premium even if hostilities ease.
Oil futures rose roughly 6% on Monday after the U.S. military announced plans to blockade ships leaving Iranian ports and Iran warned of retaliatory moves against Gulf neighbours’ ports. Brent and U.S. crude both topped $100 a barrel, physical cargoes to Europe traded at even higher levels, and regional shipping patterns shifted as some vessels avo…
OPEC reduced its estimate for global oil consumption in the second quarter by 500,000 barrels per day, marking its first public assessment of how the Iran war is affecting the market. The group left its full-year demand forecast for 2026 intact, citing an expected rebound later in the year, even as OPEC+ output plunged in March following disruption…
On April 13, NATO allies including Britain and France said they would not take part in a U.S.-led blockade of the Strait of Hormuz announced by President Donald Trump. The U.S. had said the blockade - initially described as applying to all maritime traffic - would start at 1400 GMT on Monday and was later clarified to target only vessels bound to o…
A diplomatic effort led by the United Nations is advancing a proposal to enable safe commercial transit of fertiliser shipments through the Strait of Hormuz, U.N. officials and sources say. The initiative is being accelerated as shortages already force some farmers to skip plantings and the U.S. military prepares a blockade of Iranian ports, height…
UBS raised its Brent crude price outlook, citing ongoing restrictions on shipments through the Strait of Hormuz as maintaining upward pressure on prices. The bank now sees Brent at $100 a barrel by end-June 2026, with subsequent targets of $95 by end-September, $90 by end-December and $85 by end-March 2027. UBS cautioned that prolonged disruption c…
Oil prices climbed above $100 a barrel and global equities weakened on renewed geopolitical risk after the U.S. moved to block shipping to and from Iranian ports in the Strait of Hormuz following failed peace talks in Islamabad. The action has begun to erode last week’s relief rally, while U.S. inflation and Hungary’s election outcome add further m…
Voting and the official tally in Peru stretched into a second day after distribution problems at polling stations left tens of thousands unable to cast ballots on Sunday. With roughly half the ballots counted, former congresswoman Keiko Fujimori led a fragmented presidential field, while the race remained tight and fluid.
Morgan Stanley maintained its Brent crude price projections for 2026 and 2027 while cautioning that oil supply chains will require months to return to normal even if transit through the Strait of Hormuz is restored. The bank's base-case assumes a gradual recovery of exports, and recent market moves and Asian pricing actions from Middle Eastern prod…
Claudio Descalzi, CEO of Italian energy company Eni, urged the European Union to rethink its scheduled progressive ban on Russian gas imports beginning in 2027, citing concerns about replacing 20 billion cubic meters that provide operational flexibility to power plants. He spoke at an event organized by the co-ruling League party and described the …
Polling station delays in Lima and elsewhere marred Peru's general election, prompting an extension of voting into Monday for more than 50,000 voters. With 37% of ballots tallied, former congresswoman Keiko Fujimori led with 17.17% and former Lima mayor Rafael Lopez Aliaga followed closely with 16.97%, making a June 7 runoff the probable outcome am…
Canadian Prime Minister Mark Carney appears set to secure a parliamentary majority for his Liberal Party following three special elections in Ontario and Quebec. Winning at least one of the contested ridings would give the Liberals a majority in the 343-seat House of Commons, enabling Carney to advance his legislative agenda as he addresses trade f…
The U.S. military announced a blockade of shipping to and from Iranian ports that begins at 10 a.m. ET (1400 GMT) on Monday, a move that would curb about two million barrels per day of Iranian crude from reaching world markets. The restriction applies to ships calling at Iranian ports on the Gulf and Gulf of Oman, while transits to and from non-Ira…
