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.
1,905 total articles
Oil futures rose sharply in early Asian trading after reports that the U.S. carried out a second strike on Iran this week. Brent and WTI climbed about 1.9% following explosions near Bandar Abbas and reports that the U.S. military hit an Iranian military site. The moves come as markets weigh renewed hostilities against prior optimism that the Strait…
President Donald Trump told Cabinet members he is unconcerned that the November midterm elections will compel him to cut a deal with Iran, saying Iranian leaders miscalculated if they expected him to be pressured by the vote. His remarks come amid mounting voter unease about rising prices and a contentious Republican primary outcome in Texas that D…
Northwest European gasoline refinery margins declined to $21.25 per barrel on Wednesday. Market activity in the Argus trading window included 24,000 metric tons of E5 gasoline changing hands, with BP and Exxon selling to TotalEnergies. Broader dynamics noted in the market include limited relief from U.S. waivers on domestic fuel transportation, a J…
A cargo from the U.S. Strategic Petroleum Reserve arrived in California this month, marking the first recorded delivery of SPR crude to the U.S. West Coast, according to ship-tracking service Kpler. The movement reflects a realignment of shipping routes and trade flows after the Iran war affected Middle Eastern crude supplies, and involved a chain …
A Reuters analysis of federal and industry data finds that President Trump’s March waivers of the Jones Act have so far had minimal effect on rising U.S. gasoline prices. High charter rates for foreign-flagged tankers, constrained availability due to geopolitical disruptions, and the small share of domestic fuel flows moved under the exemption have…
The head of Peru's National Society of Mining, Petroleum and Energy (SNMPE) warned on May 27 that the divergent mining policies proposed by the two presidential runoff candidates risk imperiling billions of dollars in investment. SNMPE leadership said neither platform provides a sustainable framework for the sector and urged stronger state capacity…
European natural gas benchmarks declined on Wednesday after data indicating higher supplies into Europe reduced some of the market’s risk premia tied to conflict-driven disruptions in the Middle East. The Dutch TTF front-month contract fell 5.1% to 45.165 euros per megawatt hour, while Britain’s June gas contract slipped 4.6% to 110.00 pence per th…
The market rally in AI-related semiconductor names continued this week as U.S.-listed Micron Technology and South Korea’s SK Hynix each reached or briefly touched $1 trillion in market value. Sharp gains in memory-chip shares followed strong demand and persistent supply shortages, while a labor agreement at Samsung helped soothe strike concerns and…
Three months into the Iran war, a roughly 40% rise in oil has reshaped inflation and interest-rate outlooks, strengthened the dollar as a safe-haven and left many Asian currencies under pressure. Stocks have generally held up thanks to renewed AI optimism, but airlines, luxury goods and government bonds have been hit. The energy shock is weighing p…
Chinese authorities have granted export quotas for urea fertiliser, according to sources with direct knowledge. The move could relieve international price pressure caused by supply disruptions related to the Iran war. Two domestic producers confirmed they received quotas; an Indian importer said a government notification permitted exports. China sh…
Oil prices pared gains on Wednesday as traders sought clarity on fragile U.S.-Iran negotiations after new military strikes raised doubts around efforts to reopen the Strait of Hormuz. Brent was trading near $98.16 a barrel and U.S. WTI near $92.23 as uncertainty around regional hostilities and shipping access weighed on markets.
Gold gained modestly in early Asian trading as markets continued to focus on ongoing peace negotiations between the U.S. and Iran. The metal has traded in a narrow band over the past 10 days amid mixed signals from the conflict, with recent military strikes and inflation data pushing investors to weigh the prospect of higher interest rates.
Bank of Japan Governor Kazuo Ueda warned that central banks should not treat rising oil prices as an isolated input. He said a temporary energy shock can become persistent if it propagates through wages, inflation expectations and firms' price-setting behavior, while the same oil price rise may have different macro effects depending on initial cond…
Oil prices declined in early Asian trading as indirect negotiations between the United States and Iran proceeded, even after both sides reported exchanges of fire earlier in the week. West Texas Intermediate for July fell 0.5% to $89.95 a barrel by 19:22 ET (23:22 GMT). Media accounts indicated the ceasefire remained intact as talks centered on a f…
Brent crude futures rose roughly 4% following U.S. military strikes in southern Iran, dealing a blow to recent optimism that a memorandum between the United States and Iran could end the three-month war and restore transit through the Strait of Hormuz. While Brent rallied to close near $99.58 a barrel, U.S. West Texas Intermediate fell as markets a…
Wheat futures in Europe climbed as markets weighed the potential impact of unusually high May temperatures on winter crops across Western Europe. Benchmark September milling wheat on Euronext rose 1% to 214.75 euros a metric ton by 1520 GMT, while meteorologists warned the intense heat is expected to persist through the week. Export data from Russi…
The Baltic Exchange's main dry bulk freight index rose on Tuesday after increases in capesize and panamax rates. The main index added 94 points to 3,085, while capesize and panamax segments posted notable gains, with average capesize daily earnings climbing as Chinese coking coal and coke prices strengthened.
The rouble price of Russian oil declined by 11% in May compared with April, driven by a firmer rouble and lower international crude prices linked to expectations of a deal to halt the conflict in Iran. The average rouble price between May 1 and May 22 stood at 6,518 roubles per barrel, down from April's 7,299 roubles. That level remains roughly 20%…
Oklo has been chosen by the U.S. Energy Department for advanced discussions about using plutonium from dismantled Cold War nuclear warheads as fuel for commercial nuclear reactors. The development follows a policy change ordered by the president that redirects surplus plutonium from dilution and disposal programs toward potential use in advanced nu…
Uzbekistan resumed shipments of non-monetary gold in April following a halt that began after September 2025. Official statistics show $1.5 billion in exports in the first four months of 2026, with central bank reserve movements suggesting sales activity in April. The restart coincides with record average gold prices and occurs alongside increased g…
Markets reopened after a long holiday weekend amid reports of progress toward an Iran ceasefire and the possible reopening of the Strait of Hormuz, sending crude nearly 7% lower to below $100 per barrel. New U.S. military strikes on Iranian targets and political provisos from the U.S. president tempered optimism. Stocks were mixed, inflation and Fe…
UBS analysts say that since the joint U.S. and Israeli assault on Iran in late February, gold has moved from being driven primarily by geopolitical risk to reacting to economic signals. Rising oil prices, surging government bond yields and a firmer U.S. dollar have increased the opportunity cost of holding non-yielding assets like gold, pressuring …
UBS has reduced its palladium price target across all tenors to $1,400 per ounce from $1,600, forecasting a return to surplus in 2026 after 14 straight years of deficits. The move follows data showing an undersupply in 2025, strong investment inflows that supported shortages, and indicators — including falling ETF holdings and rising scrap potentia…
Governments in the United States, Australia, Europe and Japan are deploying tens of billions of dollars to develop critical minerals and build strategic stockpiles to reduce dependence on China. Industry executives, investors and analysts caution that well-intentioned incentives and purchase guarantees can produce excess capacity and depressed pric…
U.S. Secretary of State Marco Rubio said negotiations with Iran could take "a few days" as Washington conducted fresh strikes it described as defensive in southern Iran. Diplomats were meeting in Doha to discuss a potential deal addressing the Strait of Hormuz and Iran's highly enriched uranium, while regional tensions persisted with Israeli strike…
