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.
162 total articles
The U.S. administration has permitted China to continue buying Venezuelan crude oil but mandates that these transactions occur at competitive market prices, diverging from the previously discounted rates offered under Nicolas Maduro's regime. This oversight follows the U.S. seizure of control over Venezuela's oil sales after the capture of Maduro.
Recent data from the Energy Information Administration reveals that U.S. gasoline inventories have surged to the highest levels seen in nearly five years, while gasoline demand has contracted to its lowest in three years. Concurrently, distillate stockpiles have expanded across multiple regions, marking key highs over recent years.
The PJM Interconnection, the largest electricity grid in North America serving 67 million people across 13 states and Washington, D.C., is projected to experience historic winter demand next week. A significant cold front sweeping through the eastern United States is driving this surge, with PJM forecasting peak electricity consumption surpassing i…
Finnish President Alexander Stubb has proposed the development of an extensive plan to enhance security across the Arctic region, with a targeted completion by the NATO summit scheduled for July in Turkey. This initiative follows the United States' announcement of an agreement securing permanent U.S. access to Greenland, a move aimed at addressing …
Trafigura has completed its inaugural delivery of Venezuelan crude oil, shipping a cargo to Spain’s Repsol under a 50-million-barrel export agreement sanctioned by the United States and Venezuela. This milestone represents one of the first Venezuelan crude sales to Europe following recent political developments and marks a significant step in re-op…
Venezuela's proposed overhaul of its hydrocarbons legislation intends to grant both foreign and domestic companies unprecedented operational autonomy, enabling them to manage oilfields independently and commercialize production even as minority partners with state-owned PDVSA. The reform, submitted by interim President Delcy Rodriguez to the Nation…
The French navy intercepted the Russian tanker GRINCH in the Western Mediterranean, an operation supported by multiple allied navies including the UK. The vessel is suspected of evading sanctions by operating within a shadow fleet that facilitates Russia's oil exports despite European Union restrictions. This enforcement action emphasizes ongoing i…
UBS has increased its forecast for platinum prices, anticipating levels of $2,500 per ounce in the near term. This upward revision follows a doubling of prices over the past seven months, propelled primarily by robust investment demand amid tight physical market conditions. While factors such as industrial and jewelry consumption, geopolitical tens…
Copper remains a central industrial metal, with 2025 patterns defined by concentrated mine production, heavy Chinese refining capacity, steady recycling contributions and supply disruptions that limited mine growth even as refined output expanded. This report outlines how ores are processed, where production and refining are located, how demand is …
Goldman Sachs has increased its gold price target for December 2026 from $4,900 to $5,400 per ounce, citing the realization of previously identified upside risks primarily driven by sustained private-sector demand and limited bullion availability amid central bank competition. The bank highlights robust inflows into western gold ETFs and growing ma…
Global equities climbed following the announcement that U.S. President Trump would not impose tariffs on Greenland, alleviating recent tensions. Despite this easing, markets remain cautious due to lingering unpredictability in U.S. policymaking during Trump's Davos attendance. Treasury yields softened, gold prices declined slightly, and semiconduct…
During the World Economic Forum in Davos, U.S. Energy Secretary Chris Wright called for more than doubling worldwide oil output to meet ongoing demand. He criticized the European Union's stringent environmental regulations and California's energy policies for hindering production and elevating costs. Wright and Occidental CEO Vicki Hollub underscor…
Following a framework agreement involving U.S. President Donald Trump on Greenland, NATO Secretary General Mark Rutte has indicated that the alliance must increase its focus on Arctic security. The operational specifics are to be worked through by NATO's senior commanders, with initial results anticipated by early 2026. Discussions on resource expl…
Oil prices declined modestly Thursday following a softening of tariff threats linked to Greenland and growing U.S. crude stockpiles. Despite recent supply concerns stemming from halted output in Kazakhstan's oilfields, market participants are weighing a complex backdrop of supply disruptions, inventory builds, and upward revisions to global demand …
Oil prices declined on Thursday, reversing gains from earlier sessions as easing geopolitical tensions and increased crude inventories affected market sentiment. U.S. President Donald Trump's decision to pull back on tariff threats towards European allies and his softened stance on potential military action in Iran reduced risk premiums. Supply int…
Two oil tankers confiscated by the United States during its enforcement campaign against Venezuelan oil shipments have been identified near Puerto Rico, marking the first observations since their seizure. The vessels, the M Sophia and Galileo, are part of a broader group of seven tankers detained recently. While exact plans remain undisclosed, the …
Gold prices experienced a modest decline after reaching historic highs near $4,900 per ounce, influenced by robust U.S. economic data and easing geopolitical tensions following President Trump's signals of a resolution regarding Greenland. Despite the pullback, forecasts anticipate continued strength in gold markets driven by private sector demand …
Valero Energy Corp has acquired a shipment of Venezuelan crude oil via trading house Vitol under a new U.S. deal permitting imports of up to 50 million barrels from Venezuela. This transaction represents the first such purchase from authorized trading firms this month and marks a change from previous supply routes through Chevron, the Venezuelan st…
The U.S. Department of Energy plans to invite U.S. states to express interest in agreements for hosting underground nuclear waste repositories. These agreements, expected to include incentives for constructing nuclear reactors, mark a significant policy departure from prior centralized storage plans. The initiative aligns with the administration's …
Copper prices experienced an uptick following a prior session's sharp drop, driven by constrained inventories outside the U.S. However, questions remain about the durability of demand amid geopolitical risks and shifting Chinese consumption patterns. Other base metals showed mixed movements, with tin and nickel advancing significantly.
The International Energy Agency forecasts a significant surplus in the world oil market during the first quarter of 2026, largely driven by higher production outputs from OPEC+, the U.S., and other producers. Despite geopolitical risks, such as tensions involving Iran and Venezuela, excess supply continues to dominate, with a projected surplus of 4…
Global investors are closely watching the evolving situation as U.S. President Donald Trump arrives in Davos amid escalating trade tensions between the U.S. and Europe, driven by disputes over Greenland and tariff threats. Market volatility has eased from earlier sell-offs, but concerns remain about rising Treasury yields and the implications of po…
Residents of Kyiv are enduring severe hardships this winter as Russian missile and drone attacks focus on crippling Ukraine's energy infrastructure, leading to extended power and heating disruptions amid freezing temperatures. The capital is experiencing unprecedented challenges, including water shortages, prolonged blackouts, and impaired heating …
The International Energy Agency has revised its 2026 oil demand growth forecast upward to 930,000 barrels per day, reflecting a stronger anticipated consumption trend compared to earlier estimates. Simultaneously, global oil supply is expected to grow slightly more than previously predicted, reaching 2.5 million barrels per day. Despite these incre…
Global liquefied natural gas (LNG) supply is projected to increase substantially starting in 2026, driven by key projects primarily in the U.S. and Qatar. This anticipated growth in supply is set to alleviate recent tight market conditions, reduce LNG prices, and stimulate stronger demand from major importers such as China, India, and Europe. Analy…
