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.
1,914 total articles
Citi’s commodities strategy team has shifted to a more bullish stance on Brent crude after a wave of attacks on energy infrastructure across the Middle East. The bank now projects Brent at $110-$120 per barrel if disruptions persist for four to six weeks, and places a 30% probability on a $150 per barrel scenario should damage to supply extend long…
Morgan Stanley raised the probability of inadequate European gas storage refills this summer after confirming sustained damage to two LNG mega-trains at Qatar’s Ras Laffan. The bank moved its base case to a scenario in which TTF reaches €90/MWh over the summer, and now forecasts a 15 Mt global LNG deficit in 2026 alongside a longer-term tightening …
UBS has more than doubled its 2026 European composite refining margin forecast to $14.8 per barrel amid strikes that have removed over 3.5 million barrels per day of refining capacity in the Middle East. The brokerage raised diesel and jet fuel margin estimates materially for the near term, increased earnings and price targets for European refiners…
The recent strikes on Iran's South Pars gas field and subsequent attacks on regional energy infrastructure, including Qatar's Ras Laffan LNG hub, have produced steep moves in physical energy markets and mounting stress across refined product supply chains. Despite dramatic one-day surges in European gas prices and strains on shipping routes through…
Yardeni Research reaffirmed a long-term bullish stance on gold, holding to targets of $6,000 by year-end and $10,000 by 2029. The firm said the outlook is grounded in its 'Roaring 2020s' scenario, where equity gains prompt investors to shift into alternatives such as gold. Yardeni cited ongoing central bank reserve accumulation, resilient Chinese i…
Saudi Arabian oil officials told the Wall Street Journal that crude prices might exceed $180 per barrel if supply interruptions from the U.S.-Israel conflict with Iran continue beyond April. The warning follows recent strikes on Iranian and regional energy infrastructure, Israeli attacks on South Pars, Iranian retaliatory strikes aimed at oil facil…
Gold traded narrowly higher in Asian hours on Friday but remained on track for its steepest weekly fall in six years. Markets have pulled back rate cut expectations after the U.S.-Israel war on Iran lifted inflation concerns, a development that has strengthened the dollar and U.S. Treasury yields and weighed on precious metals.
Saudi Arabia's foreign minister warned that the kingdom retains the right to take military action against Iran after Riyadh was targeted by Iranian ballistic missiles. The minister said trust with Tehran has been shattered and accused Iran of deliberate hostile acts both directly and through regional proxies. The confrontation follows a fresh wave …
Nationwide retail gasoline prices in the United States have risen by roughly 90 cents a gallon - more than 30% - since the end of February, pushing the national average to $3.88 and setting the market on course for $4 per gallon. The climb has tracked a sharp rise in U.S. crude futures, while short-term policy moves such as a temporary Jones Act wa…
Goldman Sachs warns that oil prices may remain higher for an extended period due to supply shocks tied to the Iran conflict. The bank sees short-term upward pressure while flows through the Strait of Hormuz are constrained and highlights scenarios in which Brent could top its 2008 peak and remain above $100 if disruptions produce lasting production…
Gold has experienced a sharp pullback even as conflict in the Middle East deepens. Yardeni Research attributes the decline to profit-taking, stronger bond yields, and shifts in investor positioning, while noting technical breaks and heavy ETF outflows. The firm retains lofty multi-year targets but says it may trim its near-term forecast if gold fai…
Three Israeli officials speaking anonymously said Israel coordinated a Wednesday strike on Iran's South Pars gas field with the United States but does not expect to repeat such an operation. U.S. President Donald Trump said he was unaware of the strike and warned Israel would refrain from further attacks on the gas field unless Iran again struck Qa…
U.S. Treasury Secretary Scott Bessent said the United States may soon remove sanctions on roughly 140 million barrels of Iranian crude currently stranded aboard tankers, a move intended to add near-term physical supply to global markets and help lower oil prices. Officials also plan further unilateral Strategic Petroleum Reserve releases and are pu…
Benchmark Middle East crude oil spot premiums reached unprecedented highs on Thursday, with cash Dubai and Oman trading about $65 per barrel above their respective reference points. The move follows Iran's strikes on regional energy facilities and Tehran's retaliatory response to Israeli attacks on Iranian gas infrastructure, pushing spot different…
Global energy markets tightened sharply after attacks on major gas infrastructure in the Gulf drove Brent crude above $115 a barrel and pushed European natural gas prices dramatically higher. Central banks signalled caution, with the Federal Reserve keeping rates on hold but projecting a higher inflation path and removing a 2026 rate-cut from futur…
In Aguacate, Cuba, mechanic Juan Carlos Pino adapted a 1980 Polish-built Fiat Polski to run on charcoal, presenting a low-cost alternative as U.S. actions and disrupted oil supplies have tightened fuel availability. Built from scrap parts in his workshop, the two-cylinder car completed a long-distance test and has drawn local attention, while innov…
European natural gas prices rose sharply after attacks on energy infrastructure in the Middle East included strikes at Ras Laffan, a major liquefied natural gas facility in Qatar. The Dutch TTF next-day contract climbed about 24.8% by 05:23 ET (09:23 GMT), raising inflationary concerns and complicating policy decisions for central banks already mon…
ExxonMobil, BP and Vitol have arranged shipments totalling at least 200,000 metric tons of refined fuels from the United States to Australia in March, filling gaps left by curtailed Asian exports and reduced refining output tied to disruptions in Middle East crude flows. The volumes mark the largest monthly shipment from the U.S. to Australia in mo…
President Donald Trump is expected to press Japan’s prime minister during a White House meeting for concrete help tied to the war on Iran, including naval support to secure the Strait of Hormuz and possible missile production co-operation. Tokyo is assessing what it can legally and politically provide while balancing its diplomatic ties with Tehran…
Gold recovered some losses in Asian trade on Thursday but remained well below key levels as mixed signals about U.S. inflation and interest rates tempered gains. Strong U.S. producer-price inflation data and Federal Reserve commentary about inflationary risks tied to the U.S.-Israel war on Iran pushed prices down on Wednesday, leaving bullion benea…
Oil benchmarks rose sharply after Iran launched strikes on multiple energy installations across the Middle East following an attack on its South Pars gas facilities. Brent futures rallied over 3% while U.S. WTI also gained. The strikes damaged core LNG operations in Qatar and disrupted oil and gas sites in the United Arab Emirates and Saudi Arabia.…
Oil futures rose on Wednesday and advanced further in after-hours trade following a series of attacks by Iran on energy infrastructure across the Middle East. Brent extended gains after settling above $107 per barrel, while U.S. West Texas Intermediate (WTI) also climbed. Markets reacted to reports of damage at major Gulf facilities, missile and dr…
U.S. officials and sources say the administration is weighing the deployment of thousands of additional U.S. troops to the Middle East to broaden military options in its campaign against Iran. Proposed missions range from protecting shipping through the Strait of Hormuz to potential limited operations on Iran’s Kharg Island and efforts to secure en…
The U.S. Federal Reserve and the Bank of Canada both left interest rates unchanged while delivering cautionary messages about the inflationary risks posed by a sharp rise in energy prices linked to the Iran conflict. Fed Chair Jerome Powell and Bank of Canada Governor Tiff Macklem emphasised uncertainty around the duration and breadth of energy-dri…
Oil prices climbed sharply, with West Texas Intermediate futures rising over 3% in early Asian trade to $99.29 a barrel, as reports that Israel struck facilities in Iran's South Pars field and subsequent Iranian threats against Gulf energy sites heightened supply-risk concerns. Brent traded near $110 a barrel, while markets weighed the potential in…
