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.
824 total articles
President Donald Trump urged other nations to dispatch naval vessels to the Strait of Hormuz after Iran threatened broader retaliation for U.S. strikes on Kharg Island, a critical hub for Iranian oil exports. Tehran warned it could disrupt shipping through the strait, raising the prospect of severe impacts on global energy flows. The conflict has e…
The U.S. Treasury issued three updated general licenses on Friday that broaden waivers to Venezuela-related sanctions. The changes are intended to facilitate investment and activities tied to Venezuela's energy sector and to permit fertilizer exports directly to the United States, with the stated goal of supporting American farmers and maintaining …
Disruptions to shipping from the Persian Gulf tied to the Iran conflict have tightened global fertilizer availability, driving prices sharply higher and leaving U.S. and Canadian growers facing shortages and the risk that needed supplies will arrive too late for the 2026 crop season. Industry analysts, farm groups and a state senator have raised al…
U.S. military leaders have escalated the inquiry into a February 28 strike that struck the Shajareh Tayyebeh girls' school in Iran, following early findings suggesting U.S. forces may have been responsible. The Defense Department has appointed an external general officer to lead a more independent, administrative probe known as a 15-6. Iranian auth…
California is experiencing outsized increases in fuel costs compared with the rest of the United States as disruptions linked to the war in Iran constrain supplies and disrupt trade flows through the Strait of Hormuz. Structural features - a mandated gasoline blend and limited pipeline connectivity - isolate the state from broader domestic markets,…
Since strikes began on February 28, a limited number of Greek-owned and Chinese-operated tankers and dry bulk vessels have traversed the Strait of Hormuz, accepting exposure to mines, missiles and drones in exchange for sharply higher earnings. The voyages underscore how surging crude prices and record tanker rates are motivating owners to undertak…
Iran has effectively closed the Strait of Hormuz in retaliation for U.S.-Israeli strikes, halting a waterway that normally handles about one-fifth of global oil and liquefied natural gas shipments. Traffic has collapsed by roughly 97% since the conflict expanded at the end of February, United Nations data show. The geography of the strait, the tact…
A White House official, speaking on condition of anonymity, restated President Trump’s comments that Washington is engaged in talks with Havana and that Cuban leaders should reach a deal, which the president believes could be 'very easily made.' Cuban President Miguel Diaz-Canel confirmed negotiations are taking place as the nation faces acute shor…
The International Energy Agency has called the closure of the Strait of Hormuz the largest interruption to global oil supplies in history, estimating a roughly 8 million barrels per day reduction in March — about 8% of global output. IEA members agreed to release a record 400 million barrels from strategic reserves to steady markets. This article s…
An Italian foreign ministry source has denied reports that Italy is negotiating with Iran to guarantee safe transit for Italian ships or oil tankers through the Strait of Hormuz. The ministry reiterated Rome's focus on diplomatic efforts aimed at broad military de-escalation and rejected the notion of arrangements that would shield some merchant ve…
A senior UAE diplomat said Iran must halt attacks on neighbouring states before mediation can take place, expressing confidence that U.S. President Donald Trump will lead efforts to a diplomatic end to the war. The minister described Iranian strikes on the UAE as shocking and egregious, defended the UAE’s close coordination with the United States, …
U.S. Defense Secretary Pete Hegseth said Iran's newly named supreme leader is wounded and likely disfigured, casting doubt on his authority after a wave of strikes. Iranian state media and an Iranian official have described him as war-wounded and lightly injured, respectively. The Pentagon emphasized U.S. operations targeting Iran's missile, drone …
Iran has effectively weaponized the Strait of Hormuz, using a campaign of missile and drone attacks and restrictions on tanker traffic to impose a severe shock on global oil and liquefied natural gas flows. Regional sources and analysts say the move is an intentional strategic response to military inferiority, designed to create economic pain that …
French President Emmanuel Macron said that U.S. waivers permitting purchases of some sanctioned Russian oil products are short-term and narrowly scoped. Speaking alongside Ukrainian President Volodymyr Zelenskiy at a Paris press event, Macron reaffirmed that the G7’s position remains to maintain sanctions on Russia and that neither France nor Europ…
Bernstein analysts, led by James Hooper, caution that while semiconductor production is unlikely to be hit immediately by tensions involving Iran, a sustained conflict could lift helium prices materially. Qatar supplied about 34% of global helium in 2024, and the market's structural features - inventories, alternative sources, recycling and undergr…
RBC Capital's head of global commodity strategy warns that talks in Washington have led the bank to extend its outlook for the Iran-U.S. conflict and its effect on oil markets. The bank says the confrontation could last into spring, elevating the chance that crude surpasses the 2022 Russia-Ukraine peak of $128 per barrel and, if fighting endures fo…
Yemen’s Houthi rebels possess significant missile and drone capabilities and have previously targeted Gulf oil infrastructure and international shipping. Yet, unlike allied Shi’ite groups in Lebanon and Iraq, they have not formally entered the broader regional conflict following U.S. and Israeli strikes on Iran. Explanations include a distinct reli…
Global markets registered significant turbulence as the conflict in the Middle East pushed oil prices into triple digits, prompted emergency reserve releases and exposed stress in opaque corners of credit markets. U.S. equity losses were modest compared with global peers even as refined fuel squeezes and rising gasoline prices began to bite consume…
German Chancellor Friedrich Merz said Friday that Berlin only learned on the morning the United States issued a waiver allowing purchases of sanctioned Russian oil and petroleum products stranded at sea. Speaking in Norway, Merz said he wants to understand Washington's reasoning and ruled out providing military protection for sea routes in response…
China has tightened phytosanitary inspections on Brazilian soybean shipments after authorities flagged pesticide- and fungicide-coated beans and other quality issues. Increased checks at exporters' end and longer waits for certification at Brazilian ports are delaying arrivals, lifting freight and demurrage costs and reducing offers to sell. While …
South Korea's Industry Ministry has set temporary maximum wholesale supply prices for gasoline, diesel and kerosene in what officials describe as the country's strongest energy market intervention in nearly 30 years. The two-week cap targets refiners' supply prices while leaving retail pump prices outside the controls. A concurrent Finance Ministry…
Brokerages including Goldman Sachs and Bank of America have adjusted their average oil price forecasts for 2026 as the Iran conflict entered its second week. Analysts say prices are likely to remain elevated in the near term while they assess supply disruption risks through the Strait of Hormuz - a waterway that carries more than 20% of global oil …
A bombing that hit the fuel depot of private carrier Kam Air near Kandahar airport was reported by the Taliban, representing a notable escalation in cross-border hostilities between Pakistan and Afghanistan. The attack came after a pause in air strikes lasting over a week amid stepped-up mediation by China, with both sides reporting further strikes…
A Goldman Sachs vessel-count tracker shows oil flows through the Strait of Hormuz have fallen roughly 97% from normal levels, stabilizing near 0.6 million barrels per day. The bank estimates total Persian Gulf flow reductions of about 16 million barrels per day after partial rerouting to alternative ports. Production and refining outages are intens…
Goldman Sachs raised its near-term Brent crude price outlook to an average above $100 a barrel for March and $85 for April as conflict-related disruptions in the Middle East, damage to regional energy infrastructure and interruptions in the Strait of Hormuz push energy markets into heightened volatility. The bank nonetheless projects a gradual decl…
