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.
2,695 total articles
HSBC’s research note says the United Arab Emirates' planned withdrawal from OPEC and OPEC+ from May 2026 should not materially change global oil flows in the near term because exports remain constrained by disruptions in the Strait of Hormuz. However, over a longer horizon the departure could weaken the producers' ability to manage supply and price…
The United Arab Emirates will leave OPEC on May 1, removing one of the cartel’s largest producers from the production quota framework and reducing the alliance’s share of world oil output. OPEC+ delegates and market analysts say the move will weaken the group’s leverage over supply management, but they expect the remaining members to continue coord…
The Canadian government set out a range of new initiatives in its spring economic statement aimed at boosting skilled trades hiring, trimming base pension contributions, loosening certain mortgage insurance rules, and expanding incentives for carbon capture and low-carbon liquefied natural gas (LNG) investments. The measures combine near-term fundi…
Italy's energy company Eni formalized an agreement with Venezuela's oil ministry and state-owned PDVSA to relaunch a heavy crude project in the Orinoco Belt. The signing took place in Caracas with senior Venezuelan and Eni officials present, and follows a spate of preliminary pacts between PDVSA and its international partners amid a government revi…
Prime Minister Giorgia Meloni said Italy is evaluating an extension to its temporary cut in petrol and diesel excise duties beyond May 1. The government has already spent about 700 million euros on the measure for just over 40 days and is also allocating nearly 1 billion euros to reinforce tax incentives aimed at encouraging hiring. Officials highl…
On April 28 in Washington, President Donald Trump publicly criticized German Chancellor Friedrich Merz for comments about the war in Iran, posting a remark on Truth Social that analysts say mischaracterized Merz's position. Merz had earlier said Iran should not possess a nuclear weapon and sharply rebuked U.S. diplomacy, saying Iranian leaders were…
Average U.S. gasoline prices hit their highest level in almost four years, climbing after late-February attacks on Iran by the U.S. and Israel. The American Automobile Association reported a 7-cent one-day increase to $4.18 per gallon, part of a jump of $1.19 per gallon—over 40%—since late February. Market concern over shipping through the Strait o…
Pro-tariff organizations and human rights groups urged the Trump administration to enact new import bans, tariffs and quantitative controls at a two-day U.S. Trade Representative (USTR) public hearing. The testimony, from roughly 60 witnesses, fed into a Section 301 investigation that targets what USTR calls the failure of 60 countries to stop impo…
The United Arab Emirates, one of the largest producers within the OPEC+ alliance, will formally depart the group on May 1. OPEC, founded in 1960, later created an expanded alliance with non-members called OPEC+ in 2016. Together, these producers have held substantial share of global crude and oil liquids production, a share that has shifted materia…
U.S. retail gasoline prices have climbed to their highest level in almost four years, driven by sharp crude oil gains since late February and refinery outages and planned maintenance in the Great Lakes region. The national average approaches $4.18 per gallon, reflecting an 11-cent rise this month and a $1.19 increase since the end of February. Mark…
In the month following Prime Minister Keir Starmer's March 25 declaration that the British military could board ships linked to Russia's so-called 'shadow fleet', at least 98 sanctioned Russian vessels passed through UK waters. Data show no public record of boardings or detentions, with many ships moving through the English Channel and around north…
Belarus has released Polish-Belarusian journalist Andrzej Poczobut as part of a five-for-five prisoner exchange conducted at the Poland-Belarus border. In return, Poland freed Alexander Butyagin, a Russian archaeologist who had been due for extradition to Ukraine. Officials said not all identities were publicly disclosed and a number of diplomatic …
Facing surging energy costs tied to the U.S.-Israeli war on Iran, governments across multiple regions have introduced a patchwork of policies to shield households and key sectors. Responses range from tax relief and direct subsidies to export restrictions, production mandates and adjustments to power generation rules. Measures target fuel, electric…
The World Bank projects a 24% rise in energy prices in 2026 if the most severe disruptions from the Middle East conflict subside by May. Its Commodity Markets Outlook also forecasts a 16% increase in overall commodity prices next year, driven by energy, fertilizer and record-high metals prices, and cautions that deeper or longer disruptions would p…
European natural gas trading was subdued as markets digested reports of a stalemate in negotiations between the United States and Iran that have left the Strait of Hormuz largely inaccessible to shipping. The Dutch TTF front-month contract was narrowly higher, while regional storage levels remain well below last year’s, and weather forecasts point …
The United Arab Emirates announced on Tuesday that it has left both OPEC and the wider OPEC+ alliance, a development that removes a long-standing member from the groups and could weaken their ability to present a united position. The exit comes amid heightened regional tensions tied to Iranian attacks and threats against shipping in the Strait of H…
UBS has lowered its price projections for palladium and platinum by $200 per ounce each, citing weakening demand fundamentals and broader economic growth concerns. Palladium's outlook is weighed down by heavy concentration of demand in autocatalysts for gasoline vehicles and the industry's electrification, while indicators of easing physical tightn…
Saudi Arabia is hosting an extraordinary Gulf Cooperation Council meeting in Jeddah convening top Gulf leaders to shape a collective response to thousands of missile and drone strikes attributed to Iran. The summit is the first in-person gathering of GCC heads of state since the region became a frontline in the conflict two months ago; attacks have…
A hawkish signal from the Bank of Japan kicked off a week of major central bank meetings, reinforcing expectations of tighter policy ahead even as key G7 peers are not expected to change rates this week. Energy markets tightened as Brent crude climbed above $111 per barrel amid continued disruption in the Strait of Hormuz and stalled Iran talks. Te…
Iran has cautioned that submarine cables crossing the Strait of Hormuz represent a weak point for the regional digital economy, drawing attention to the strategic and operational risks posed to undersea fibre-optic infrastructure. The narrow waterway is already critical to global oil flows, but it is also a transit corridor for several major fibre-…
The Bank of Japan kept its short-term policy rate at 0.75% while three of nine board members voted to raise rates, a move that nudged the yen but left it close to the 160 per dollar level that has previously prompted intervention. The persistence of the Middle East conflict and U.S. unease with Tehran’s latest proposal have helped keep Brent crude …
Oil prices rose for a seventh consecutive session as diplomatic efforts to end the U.S.-Iran war stalled. The Strait of Hormuz remains largely closed, constraining physical flows of oil and gas from a region that typically supplies around 20% of global consumption. Market reactions followed reports that U.S. President Donald Trump rejected an Irani…
A senior U.S. official said President Donald Trump is unhappy with an Iranian offer because it omits immediate discussion of Tehran's nuclear program. Iranian sources say the proposal would postpone nuclear talks until hostilities end and shipping disputes are settled. Washington has insisted nuclear matters be addressed from the start. Mediation e…
Gold prices ticked up in Asian trading as investors weighed murky developments in U.S.-Iran negotiations alongside looming meetings of the Bank of Japan and the U.S. Federal Reserve. Prices remained largely confined to recent ranges as traders awaited clearer policy guidance and assessed the inflationary implications of rising oil amid stalled dipl…
Oil futures climbed in early Asian trading after reports that Iran had presented a proposal to reopen the Strait of Hormuz - an offer Washington was considering but one that generated skepticism within the U.S. administration. With the strait largely closed and U.S. naval measures in place, crude flows remain limited, supporting prices. Talks broke…
