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.
1,016 total articles
Hostilities between the United States, Israel and Iran expanded sharply after a U.S. submarine torpedoed an Iranian frigate off Sri Lanka, resulting in dozens of deaths and missing crew, while NATO air defences intercepted an Iranian ballistic missile fired toward Turkey. The developments coincide with leadership uncertainty in Tehran and continuin…
Global equity markets staged a broad rebound, led by a sharp recovery in South Korea and gains in Japan, while U.S. indexes advanced on upbeat macro prints. Energy markets moved higher on the prospect of continued disruption in the Strait of Hormuz, and investors are watching upcoming U.S. labor data and other economic releases for further directio…
Indian refiners have begun taking on Russian crude cargoes that have been anchored in Indian waters, sources with direct knowledge said. The move comes as refiners seek to cover a narrowing supply window after reductions in Middle Eastern crude shipments, with several large tankers due to offload at state-owned and commercial ports this week.
An Iranian warship, IRIS Dena, was struck by a U.S. submarine-launched torpedo and sank on March 4 in the Indian Ocean. The ship had recently taken part in India’s MILAN naval exercise and went down within Sri Lanka’s exclusive economic zone near Galle. Sri Lankan authorities conducted search-and-rescue operations; 87 bodies were recovered, 32 sail…
Mexico's anti-corruption ministry has expanded internal investigations into suspected fuel smuggling at the ports of Guaymas, Tampico and Ensenada, and has ordered reviews within the Navy and customs agency. The action follows parliamentary questions from the opposition and stems from a 2025 investigation that drew attention to cartel-linked fuel c…
UBS strategists warn that silver is likely to experience continued volatility driven by recent geopolitical tensions but offer limited upside over the next 12 months. The bank expects prices to hover near $85 per ounce after a sharp rally and elevated market swings, with a mid-2026 peak near $100/oz before easing back toward $85 by March 2027.
China's recently announced 15th five-year plan lays out sectoral priorities with specific mentions of rare earths, efforts to curb overcapacity in heavy industry, carbon intensity targets, and production goals in oil, gas and agriculture. The plan reiterates support for domestic mining and explores export control measures while stopping short of ma…
Russia has publicly accused the United States and Israel of attempting to pull Arab Gulf countries into a wider regional conflict by provoking Iran into retaliatory strikes. Moscow says Iranian drone and missile attacks have followed air strikes by the United States and Israel and that these attacks have struck oil infrastructure and caused human a…
Summary - Iran launched a large-scale missile attack against Israel early on Thursday, sending civilians into shelters and intensifying a conflict that has broadened across the region. In Washington, Republican senators blocked a procedural motion that would have required congressional authorization to halt the U.S. air campaign, leaving the presid…
Oil prices climbed more than 3% in Asian trade as the Middle East conflict extended into a sixth day without signs of cooling, sparking renewed concerns about disruptions to crude flows through the Strait of Hormuz and prompting volatile market reactions despite a large U.S. stock build reported by the API.
Gold prices advanced in Asian trade as renewed conflict in the Middle East pushed investors toward safe-haven assets while a retreat in the U.S. dollar provided additional support. Spot gold rose 0.8% to $5,179.60 an ounce by 21:09 ET (02:09 GMT), after a 1% gain in the previous session that followed a near 5% drop earlier in the week.
Global crude prices rose sharply as the widening U.S.-Iran conflict has effectively choked traffic through the Strait of Hormuz and pressured regional output. Brent and U.S. West Texas Intermediate futures jumped on concerns over suspended shipping, production cutbacks in Iraq and force majeure declarations on Gulf gas exports. Financial-sector ana…
A large-scale power failure left most of Cuba without electricity after an unexpected outage at the Antonio Guiteras thermoelectric plant. The interruption, which affected provinces from Pinar del Rio to Camaguey and parts of Las Tunas, occurred amid constrained oil supplies and ongoing government rationing of services. Repairs to the Guiteras plan…
Australia and Canada signed a set of agreements on critical minerals that will see Australia work with the G7 critical minerals alliance, Canadian Prime Minister Mark Carney said. The accords come as western countries seek to reduce dependence on China for minerals used in semiconductors and defence, and as both resource-rich nations explore broade…
Citi has lifted its London Metal Exchange (LME) aluminium 0-3 month price target to $3,600 per metric ton from $3,400, and said prices could reach $4,000/mt in a bull-case scenario. The upgrade follows force majeure declarations by Gulf producers and sharply reduced shipping through the Strait of Hormuz after Iranian retaliatory strikes affected ve…
Average U.S. retail diesel prices climbed above $4.00 per gallon for the first time in nearly two years, propelled by sustained conflict involving Iran and disruptions to Middle Eastern energy flows. The move reflects a sharp daily jump in diesel, tight global inventories, and the disproportionate impact of regional crude disruptions on distillate …
Heavy crude grades produced in the United States, Canada and Venezuela reached multi-year highs amid a disruption of Middle Eastern oil flows following U.S.-Israeli strikes on Iran and Tehran’s threat to fire on vessels transiting the Strait of Hormuz. The squeeze has pushed premiums on sour and heavy crudes higher, narrowed discounts on Canadian h…
On March 4, U.S. Interior Secretary Doug Burgum visited Caracas, meeting acting Venezuelan President Delcy Rodriguez and other officials as the interim government discusses revisions to the country's mining legislation. Burgum also held private talks with executives from foreign mining firms and is set to meet oil and gas companies, as U.S. officia…
Shipping rates for very large crude carriers and liquefied natural gas tankers have climbed to record levels amid escalating U.S.-Iran tensions and Iranian strikes on vessels transiting the Strait of Hormuz. The waterway, which handles roughly one-fifth of global oil consumption and substantial LNG volumes, has seen traffic grind to a near halt aft…
Iran’s Islamic Revolutionary Guards Corps (IRGC) has tightened its control over wartime decision-making after a series of leadership losses, centralising a hardline military response while preserving internal security functions. Sources close to the Guards say a long-standing decentralisation doctrine - with successors named multiple ranks down - h…
A U.S. submarine strike on an Iranian warship off Sri Lanka expanded the U.S.-Iran conflict and intensified a shutdown of transits through the Strait of Hormuz for a fifth consecutive day. At least 200 vessels remain at anchor outside major Gulf producers, several countries have suspended or cut output due to storage constraints, and market forecas…
U.S. Treasury Secretary Scott Bessent said crude oil markets are well supplied even as U.S.-Israeli strikes on Iran disrupted Middle East output, and he indicated additional U.S. policy announcements are forthcoming. Oil prices rose about 1% on the disruption, though gains moderated after President Donald Trump suggested the U.S. Navy could escort …
Iraq has reduced oil production across several major fields by more than 50% after onshore storage reached capacity and maritime carriers are steering clear of the Strait of Hormuz following attacks on shipping. Authorities have cut output at Rumaila, West Qurna 2 and Maysan, and suspended crude flows from the Kirkuk region as a precaution, limitin…
On March 4, UBS raised its average Brent crude price forecasts for the first quarter and for full-year 2026, citing intensifying conflict in the Middle East and what it describes as the near de facto closure of the Strait of Hormuz. The bank now projects a Q1 average of $71 per barrel, implying roughly $80 in March, and a 2026 average of $72 per ba…
Officials briefed on the matter told the New York Times that operatives from Iran's Ministry of Intelligence signalled openness to talks with the U.S. Central Intelligence Agency to explore an off-ramp from the current conflict. The outreach was reportedly passed via an unnamed country's intelligence service. U.S. officials remain doubtful about ne…
