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.
2,687 total articles
Bank of America projects Dutch TTF gas prices around €50 per megawatt-hour in 2026, but stresses that this outcome depends on only short-lived losses of LNG exports from Qatar and the United Arab Emirates. The bank quantifies the impact of supply outages on European storage and warns that prolonged disruptions could elevate prices above 2022 highs …
Two sources familiar with the situation say Iran has placed roughly a dozen naval mines in the Strait of Hormuz. The move comes as exports of oil and liquefied natural gas through the chokepoint have effectively stopped following a war begun 12 days earlier by the United States and Israel. U.S. forces report striking mine-laying vessels, and Washin…
Barclays analysis of global trade data shows the Middle East supplies more than 10% of world trade value for 30 critical products across chemicals, construction materials, agriculture and basic manufacturing. The bank highlights concentrated exposures in feedstocks and materials that flow mainly to India, China and the U.S., warning of supply vulne…
The International Energy Agency's 32 member countries unanimously approved a coordinated release of 400 million barrels from emergency oil stocks, the largest such action in the IEA's history and only the fifth time the measure has been used. The release is intended to provide immediate relief to oil and fuel markets affected by events in the Middl…
Bank of America has raised its Brent crude price projection for 2026 to $77.50 per barrel, saying the Iran conflict has "wiped out" the pre-existing global energy surplus and left supply and pricing more vulnerable. The bank's baseline "regime alteration" outlook remains the most likely path, but new variants that extend the conflict into later qua…
Maritime authorities reported on Wednesday that three commercial ships were struck in the area around the Strait of Hormuz. A Thai-flagged cargo vessel, the Mayuree Naree, issued a distress call to Oman's Marine Security Center; 20 Thai crew members were evacuated with varying injuries and three sailors were reported missing. The U.K. Maritime Trad…
Russian oil production slipped by about 56,000 barrels per day in February versus January, settling at 9.184 million barrels per day, according to OPEC monthly data reviewed by Reuters. The decline comes as exports to India fell under US pressure but showed early signs of recovery after Washington granted a 30-day waiver for Indian refiners to rece…
A draft of OPEC’s monthly report indicates Saudi Arabia significantly increased oil production and supply to the market in February as part of contingency measures prior to strikes on Iran. The move coincided with a late-February attack that has since disrupted exports and forced stoppages, while OPEC left its global oil demand growth outlook broad…
The U.S. Department of Energy attributed an incorrect post on Energy Secretary Chris Wright’s official X account to department staff. The deleted item mistakenly suggested the U.S. Navy had escorted an oil tanker through the Strait of Hormuz, a move that briefly lifted industry hopes of restored shipments in a waterway closed since Feb. 28 and that…
UBS has upgraded its recommendations on the energy and agriculture sectors from neutral to moderately overweight, arguing that macro conditions, price signals and long-term structural trends are creating a more supportive environment for commodities. The bank flagged short-term upside risk to oil, noted the benefits of roll gains in a backwardated …
Uniper's chief executive said forward market prices suggest traders expect the current Middle East conflict involving the United States and Israel against Iran to be short-lived. The company is seeing higher near-term gas and power prices, but little to no measurable impact on prices for 2027 and 2028. Uniper reports no direct restrictions on LNG p…
Italy's Prime Minister criticized recent U.S. and Israeli military action against Iran as part of an expanding trend of unilateral interventions she described as occurring "outside the scope of international law." Speaking to parliament, she also stressed the need to prevent Iran from acquiring nuclear weapons, outlined defensive assistance Italy i…
Regional officials and analysts say the United States may have initiated the confrontation with Iran, but the immediate economic and security burdens are falling on Gulf Arab states. Iranian missile and drone strikes have hit airports, hotels, ports, military sites and oil facilities across the Gulf, triggering major disruptions to aviation and shi…
Energy and equity markets have moved from acute panic to a cautious pause as traders search for evidence that oil and gas flows in the Middle East might reopen. Initial price drops tied to an extraordinary strategic release proposal were followed by a rebound, while geopolitical signals on the ground continue to suggest the conflict may not end qui…
Austria's Economy Minister Wolfgang Hattmannsdorfer announced that the country will take part in a coordinated release of crude oil from strategic reserves after the International Energy Agency is expected to make a formal decision. The minister said Austria has been in close contact with other IEA members and will support a decision in principle t…
UBS presented three discrete scenarios for how the conflict involving Iran could shape oil and gas markets. The bank's forecasts range from a quick normalization of supply and moderating prices to a prolonged disruption that could push Brent well above $100 per barrel and tighten European gas markets, depending on the duration of shipping interrupt…
European Central Bank Vice President Luis de Guindos warned that heightened financial market volatility can amplify economic shocks, particularly energy price spikes, and said the bank will examine a range of growth and inflation scenarios ahead of its March policy meeting. Rapid oil price gains tied to the war in Iran have elevated inflation risks…
Fitch Ratings says prolonged Iran-linked disruptions to shipping lanes and West Asian airspace would have mixed but increasingly negative credit effects on Asia Pacific port and airport operators. The agency highlights network re-routing, potential Strait of Hormuz closure, and near-term traffic volatility at regional airports, particularly in Indi…
A recent uptick in diplomatic pageantry between Beijing and Pyongyang has been matched by concrete infrastructure work and trade flows along the 1,350-kilometer China-North Korea border. Satellite imagery, customs figures and on-the-ground reporting show China rebuilding cross-border links and expanding imports from North Korea as both capitals rea…
Air strikes and missile exchanges between U.S., Israeli and Iranian forces persisted into the 12th day of the conflict, with attacks reported across Israel, Lebanon and the Gulf. Tehran has signaled a heavy-handed response to any resumption of domestic protests, even as disruptions in the Strait of Hormuz and volatile oil markets provoke swift poli…
Oil prices eased in early Asian trading after a report that the International Energy Agency has proposed its largest-ever coordinated emergency release of crude to blunt the impact of disruptions tied to Iran. Brent and West Texas Intermediate futures slipped after initial volatility, while concerns persist over the potential for a prolonged closur…
The International Energy Agency has floated a plan to release more crude from strategic reserves than ever before in an effort to ease recent price spikes tied to the U.S.-Israel war with Iran. Member countries are set to consider the proposal at an extraordinary IEA meeting convened this week, with adoption hinging on no objections from any partic…
Gold ticked up in early Asian trading as markets digested mixed messages about the U.S.-Israel conflict with Iran and prepared for U.S. consumer inflation data for February. The metal rose above a recent $5,000 to $5,200/oz range, while other precious metals also advanced. Market participants remain cautious because energy-driven inflation could pr…
The International Energy Agency has put forward a plan for the largest emergency release of crude reserves in the agency's history to ease a recent surge in oil prices linked to the war involving Iran, the United States and Israel. The release would exceed the 182 million barrels previously dispatched in two tranches in 2022. The proposal was circu…
Sharp rises in diesel prices, driven by the Israel-U.S. conflict with Iran and disruptions to shipping through the Strait of Hormuz, have tightened an already fragile diesel market. Analysts warn higher diesel and jet fuel costs could slow global growth by increasing transport and production costs, pushing up food and consumer prices and potentiall…
