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.
2,690 total articles
Tom Baker, Vitol’s managing director for Bahrain, cautioned that the oil market is not fully pricing in risks stemming from the Iran conflict, including the effective closure of the Strait of Hormuz and attacks on energy infrastructure that have taken roughly 14 million barrels of Middle East supply offline. He said crude output may return but the …
Tom Baker, Vitol's managing director for Bahrain, said the oil market is underestimating risks arising from the Iran war. He noted that closures of the Strait of Hormuz and attacks on oilfields and refineries have taken roughly 14 million barrels of Middle East supply offline, producing the largest oil supply crisis in history. While crude volumes …
European natural gas benchmarks fell Tuesday as forecasts for increased wind-driven renewable output reduced short-term demand and geopolitical uncertainty around U.S.-Iran communications and strikes in Lebanon continued to cloud supply-risk sentiment. Dutch TTF and British futures both declined, while estimates showed a notable drop in non-local d…
Barclays analyst Theresa Chen warned that discussion of a U.S. crude or refined product export ban is likely to pick up as midterm elections approach, even though the Trump administration has so far opposed such restrictions. The note follows a deterioration in U.S.-Iran relations and a weekend of air strikes that erased hopes for a prolonged cease…
Venezuela’s interim President Delcy Rodriguez will visit India from June 3 to June 7 for talks with Prime Minister Narendra Modi and other officials. The visit comes as India increases crude purchases from Caracas, and will cover a broad agenda including energy, trade, investment and renewable energy.
Global markets showed surface calm even as an unfolding AI story and persistent uncertainty over U.S.-Iran talks created mixed signals. Anthropic confidentially filed for an IPO and SpaceX readies a major offering, while Alphabet disclosed plans to raise about $80 billion of equity, including a $10 billion private placement with Berkshire Hathaway.…
China’s customs authority has lifted restrictions related to foot-and-mouth disease (FMD) in northern Brazil and now recognises the entire country as free of the disease. The decision follows diplomatic visits and comes as Brazil is the world’s largest exporter of beef and chicken, with China a major buyer.
The World Meteorological Organization says an El Nino event is likely to form between June and August and to persist through at least November, with some models indicating it could be strong. Scientists warn that the elevated baseline temperatures caused by greenhouse gas emissions will magnify El Nino’s effects, raising risks for food production, …
Gold prices recovered from a sharp decline, climbing about 0.9% as uncertainty persisted over whether U.S.-Iran negotiations had resumed. Mixed public statements from U.S. leadership and a partial ceasefire between Hezbollah and Israel provided uneven market relief. Other precious metals also edged higher, while OCBC trimmed its year-end gold forec…
Shares of Australian gold miner Northern Star Resources surged after Elliott Investment disclosed a stake in excess of A$1 billion ($715 million) and urged the company to undertake a strategic review. The activist investor flagged the miner's underperformance versus peers and sought board changes and an expedited CEO appointment amid an impending m…
Oil prices gave back some of their recent rally in Asian trade amid persistent uncertainty about the status of U.S.-Iran ceasefire negotiations. Relief from a possible de-escalation between Israel and Lebanon was tempered by the continued closure of the Strait of Hormuz and mixed statements from U.S. and Iranian sources.
Oil prices retained the bulk of a sharp one-day gain in early Tuesday trading as markets weighed conflicting messages about ceasefire talks between the United States and Iran and the implications for shipping through the Strait of Hormuz. Benchmarks showed small moves after a volatile session driven by statements from U.S. officials and reports tha…
PJM Interconnection has proposed increasing the minimum capitalization requirement for wholesale electricity market participants to $2 million. The change, the first since 2011, would be implemented in phases with a 3% annual inflation adjustment beginning five years after implementation and an intended effective date of April 30, 2027, subject to …
Australia’s next wheat harvest is forecast to be the smallest in three years at 26.7 million metric tons, the federal agriculture research agency said, citing elevated fertiliser prices tied to the Iran war and dry conditions across wide areas of the east. Reductions in planted area and yield potential for wheat, canola and barley are expected to t…
Colombia posted a 1.5% year-on-year rise in oil production for April to 724,910 barrels per day, yet output fell 2.1% from March. Commercialized gas production declined 14.2% year-on-year to 694 million cubic feet per day and was also lower than March, according to the National Hydrocarbons Agency, which offered no explanation for the shifts.
President Jose Antonio Kast used his first national address at the opening of Congress to unveil a concentrated legislative and administrative program centered on public security, spending cuts and measures to spur economic growth. Speaking from the congressional chamber in Valparaiso, Kast proposed strengthening police forces, tightening immigrati…
Chicago Board of Trade wheat futures closed lower on Monday after initial gains tied to higher crude oil dissipated. Market attention returned to sizable global supplies and subdued demand for U.S. shipments, with additional pressure from weaker corn and soybean prices and harvest-related selling as U.S. growers start gathering the winter crop.
President Volodymyr Zelenskiy said Ukrainian forces are now able to strike Russian military logistics through much of the occupied areas of Ukraine, contributing to fuel shortages in Crimea and other regions under Russian control. He reported intensified attacks on oil industry targets and said Ukrainian troops hit 15 Russian oil refineries from Ja…
Summary: In May, U.S. crude oil exports surged to an all-time high of 5.6 million barrels per day as refiners in Asia and Europe sought alternatives after the onset of the conflict involving the U.S. and Israel with Iran tightened Middle Eastern supply routes. Strong discounts of U.S. West Texas Intermediate to Brent made U.S. grades economical for…
Venezuela exported 1.25 million barrels per day of crude and refined products in May, a modest rise that marks a third consecutive monthly increase. The gain was led by higher shipments to the United States, India and Europe and reflects eased U.S. sanctions and expanded foreign involvement in Venezuelan projects, official and shipping data show.
Wheat futures on Euronext fell to their lowest levels in three weeks as cooler weather in western Europe after a heatwave eased worries about crop damage and reinforced expectations of ample supply from imminent Northern Hemisphere harvesting. September wheat closed lower for a fourth straight session, while supportive weather for U.S. corn also pr…
Northwest European gasoline refining margins fell by $3.64 to $20.58 a barrel on Monday as a sharp rise in crude prices reduced the profitability of gasoline production. Physical activity included dozens of thousands of tonnes of E5 and E10 gasoline barges changing hands, with Trafigura and Equinor selling to Shell and Petroineos selling to Van Raa…
Citi has shifted to a bullish outlook on copper, increasing its near-term forecast to $14,500 per metric ton and projecting a rise to $15,000 per ton within the next six to twelve months. The bank points to supportive U.S. tariff signaling, tighter supply assumptions for scrap and mine output, and steady consumption from energy transition projects …
The European Commission has signaled it may recommend keeping the G7-led price cap on Russian crude unchanged at its scheduled July review to prevent increased revenues for Moscow after a rise in oil prices following the Iran war. The proposal emerged in talks with EU envoys as part of planning for a 21st sanctions package against Russia, and could…
Iran’s Tasnim news agency reported that Tehran has halted the exchange of messages with the United States via intermediaries, citing attacks on Lebanon. The agency said Iran and the Resistance Front have agreed to pursue measures that could include a complete closure of the Strait of Hormuz and activation of other maritime fronts such as the Bab El…
