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.
1,906 total articles
Oil prices rallied roughly 5% after Iran said it had turned back a U.S. warship attempting to enter the Strait of Hormuz, while U.S. authorities denied Iranian claims a vessel was struck. The U.S. plans to assist ships trapped in the strait, and Central Command disclosed a sizable operation. Meanwhile, the yen strengthened abruptly amid speculation…
The United Arab Emirates is in talks with the United States to secure a currency swap line, UAE Trade Minister Thani Al Zeyoudi said at an Abu Dhabi conference. The swap arrangement would place the UAE among a limited group of nations with direct standing currency arrangements with the U.S., intended to facilitate transactions and reduce exchange-r…
European benchmark natural gas prices climbed as markets reacted to a U.S. push to reopen the Strait of Hormuz and ongoing uncertainty in talks between Washington and Tehran. The Dutch front-month TTF contract rose 3.6% to 47.47 euros per megawatt hour, with analysts questioning the effectiveness of the U.S. plan and Iran issuing stern warnings abo…
Global financial markets have rallied on hopes tied to artificial intelligence and resilient growth, but the physical oil market is signaling a much tighter supply outlook. Physical barrels are trading far above futures, reflecting acute disruption around the Strait of Hormuz. Analysts and traders warn the window to prepare for a prolonged oil shoc…
Summary: The abrupt departure of the United Arab Emirates from OPEC this week compounds an already severe shock to global oil supplies caused by the Iran war, leaving Saudi Energy Minister Prince Abdulaziz bin Salman with a new political problem at a moment when spare capacity in the Gulf is constrained. The UAE, which accounted for 12% of OPEC pro…
Gold traded largely unchanged in Asian markets amid persistent uncertainty over the Iran conflict and the direction of interest rates. Prices are coping with two consecutive months of declines, while other precious metals posted modest gains. Comments from a Fed policymaker and moves by major central banks have reinforced concerns that higher rates…
Oil prices slipped in Asian trade following U.S. President Donald Trump’s announcement that the United States will lead an effort to guide ships stranded in the Strait of Hormuz. The move came alongside an OPEC+ decision to raise production quotas, though crude losses were capped as prospects for a U.S.-Iran peace deal remained remote.
The conflict around the Strait of Hormuz has severely disrupted aluminium supply chains but has not collapsed the market. Exports from the Middle East - roughly 7% of global supply - are effectively blocked, while strikes have taken out about 3% of production capacity. Prices have climbed to their second-highest levels, with analysts forecasting el…
Approvals for roughly 165 U.S. onshore wind projects on private land are being held up while the Pentagon reviews how it assesses national security implications of energy developments, according to industry sources. Developers say the pause has produced missed meetings, halted application processing and uncertainty that has persisted since August 2…
The Asian Development Bank said it is prepared to deliver urgent assistance to Pacific island nations facing fuel shortages and energy stress due to the war in the Middle East. Speaking at the ADB's 59th annual meeting in Samarkand, ADB President Masato Kanda emphasized immediate support for energy needs and longer-term resilience via diversified e…
The Asian Development Bank announced a $70 billion programme to expand energy and digital infrastructure across the Asia-Pacific region through 2035. The package allocates $50 billion to a Pan-Asia Power Grid Initiative and $20 billion to an Asia-Pacific Digital Highway, with the bank financing a substantial share of each effort and seeking co-fina…
Private businesses and youth-driven cultural trends in Turkmenistan are showing gradual change: local e-commerce, growing social media use via VPNs, and popular urban activities such as breakdancing suggest a measured opening in everyday life. Political authority and economic controls remain firmly in place, and foreign access continues to be tight…
Ukrainian drones struck the Baltic oil export hub of Primorsk on Sunday, causing a temporary fire that was extinguished with no oil spill, regional authorities said. Officials reported more than 60 drones were shot down over the Leningrad region overnight, while Kyiv also struck two tankers near Novorossiysk. Additional drone incidents were reporte…
OPEC+ members are preparing to approve a modest rise in oil production targets for June after seven countries signalled agreement to add about 188,000 barrels per day. The increase would mark the third monthly boost in a row, but market participants caution the adjustment will have limited practical effect while the U.S.-Iran war and the closure of…
China's Ministry of Commerce has issued an injunction preventing U.S. sanctions from being recognized, implemented or complied with in the case of five Chinese refiners accused of buying Iranian oil. The move follows recent U.S. Treasury action targeting Hengli and earlier measures applied during the previous U.S. administration to several smaller …
Seven OPEC+ members have reached an agreement in principle to lift collective oil output targets by roughly 188,000 barrels per day in June. The move comes as the United Arab Emirates has departed the grouping and as significant export disruptions tied to the conflict over Iran and related closures of the Strait of Hormuz continue to limit physical…
The United Arab Emirates has formally declared it will withdraw from OPEC effective 1 May 2026, citing the need for greater strategic flexibility in its long-term energy planning. UBS analysts say the move is unlikely to push oil prices sharply higher in the near term because of physical export constraints, but it raises meaningful downside risk to…
In Ashgabat, private entrepreneurs and a growing online culture illustrate a gradual loosening of day-to-day social constraints in Turkmenistan, even as political authority and economic controls persist. Local e-commerce operators delivering mostly Turkish-made apparel, the rising popularity of social media accessed via VPNs, and increasing interes…
President Donald Trump characterized recent U.S. naval actions against vessels tied to Iran as 'like pirates' while describing the seizure of a ship and its cargo. The remarks came amid a broader conflict between the U.S. and Israel and Iran that has led to port blockades, attacks across the region, elevated oil prices and widespread condemnation o…
A radio-collared endangered Mexican wolf moved from the New Mexico Bootheel into Chihuahua, Mexico, last week, a federal wildlife official said. Conservation groups warn that continuing construction of an 18- to 30-foot-high steel border barrier across New Mexico could prevent future crossings, worsening inbreeding and threatening the long-term sur…
Barclays increased its 2026 Brent crude price projection to $100 per barrel from $85, citing the ongoing impasse in the Strait of Hormuz. The bank says a fragile ceasefire is largely holding but physical flows through the strait are a trickle, inventories are drawing down and the market is running a sizable daily deficit that could widen if disrupt…
On May 1, Barclays raised its 2026 Brent crude price forecast to $100 per barrel, citing severely constrained flows through the Strait of Hormuz and accelerating inventory draws. The bank estimates a current market deficit of 6.6 million barrels per day and says the shortfall is likely to grow. Barclays cautioned that if disruptions persist through…
Northwest European gasoline refining margins rose by $8.49 to $30.59 per barrel on Friday, marking the strongest level since August 2023 as oil prices fell. Trading in gasoline barges was active, and a two-month maintenance outage at TotalEnergies' Donges refinery in France removed a significant share of national refining capacity. Separately, U.S.…
U.S. energy firms added drilling capacity for a second consecutive week, pushing the combined oil and natural gas rig count to 547 in the week ending May 1, the highest reading since early April, according to data from Baker Hughes. Oil, gas and miscellaneous rigs each rose by one rig, but the total count remains below year-ago levels.
The U.S. administration has taken the position that the hostilities that began on February 28 have "terminated," as the 60-day period under the 1973 War Powers Resolution expired on May 1. Congressional Democrats rejected that reading of the law, pointing to ongoing U.S. operations aimed at blocking Iranian oil exports and saying the statute contai…
