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.
2,383 total articles
Northwest European gasoline refining margins rose by $1.49 on Friday to $26.44 per barrel even though underlying crude oil prices fell. Trades in Eurobob cargoes were reported in the Argus window, and independent gasoline inventories at the Amsterdam-Rotterdam-Antwerp hub increased by more than 10% during the week to 1.14 million metric tons. Marke…
Extreme price volatility in global oil markets has prompted a rapid withdrawal of investor capital this year, with open interest in Brent futures falling at the fastest rate on record and traders reporting fatigue amid erratic political signals related to the Iran conflict. The retreat has thinned liquidity, magnifying price swings and raising trad…
Initial market estimates that all non-Iranian Gulf exports would be lost after Tehran said the Strait of Hormuz was closed have given way to evidence that significant volumes have continued to move. Ship-tracking data and statements from officials indicate millions of barrels have transited the strait in recent weeks. While that has helped push oil…
Energy Secretary Chris Wright told an industry event in Houston that roughly 7 million barrels per day of oil are being moved out of the Persian Gulf with U.S. military assistance. Wright said this represents about half of the volume that had been impeded in the Strait of Hormuz since the U.S.-Israeli war with Iran began, and that military efforts …
Government data from the Petroleum Planning and Analysis Cell shows India imported 20.08 million metric tons of crude oil in April, a rise of just over 3% from March. Compared with April last year, crude imports fell 4.3%. Refined product imports and exports also recorded declines amid higher global energy prices and shipping disruptions.
Goldman Sachs has pushed back its projection for Gulf oil exports to return to pre-crisis levels, now expecting normalization by late August instead of late June. The bank holds its Q4 2026 Brent price forecast at $90 per barrel while lowering its 2027 average to $80, citing a smaller-than-expected second-quarter supply deficit and continued rerout…
This week markets oscillated as the largest IPO in history met renewed fighting in the Middle East and hotter-than-expected U.S. inflation prints. SpaceX’s unprecedented listing, companion filings from AI companies and a sizable fundraising by Super Micro Computer reshaped equity flows, while elevated inflation readings, central bank moves and the …
UBS has reduced its short-term gold price forecasts by $300 to $900 per ounce after stronger-than-expected US economic indicators and a revised timeline that pushes Federal Reserve rate cuts into 2027. The bank says momentum and positioning point to possible near-term pressure toward $3,850-$4,000/oz, but it remains constructive over the next year,…
India summoned the U.S. deputy chief of mission in New Delhi on June 12 to register a protest against U.S. military strikes on commercial vessels off the coast of Oman. The move marks the second summons in three days after a U.S. navy action killed three Indian sailors aboard the Palau-flagged oil products tanker Settebello and a separate attack on…
European natural gas futures slipped over 2% after fresh signals of a potential U.S.-Iran peace deal reduced the geopolitical risk premium. Benchmark Dutch TTF and UK gas contracts fell to multi-week lows while crude oil declined, with markets remaining cautious until any agreement is formally signed.
Gold prices declined on Friday and looked set for a second straight weekly drop as persistent inflation concerns and rising expectations of a U.S. Federal Reserve rate increase pressured the metal. Renewed, but still uncertain, signs of progress toward a U.S.-Iran peace agreement limited how far gold fell, while oil and equities reacted positively …
Oil futures fell on Friday following U.S. President Donald Trump’s decision to call off planned strikes on Iran, easing immediate fears of a sharp escalation after retaliatory attacks earlier in the week. Brent and U.S. West Texas Intermediate both posted weekly declines, while analysts cautioned that upside risks remain if support holds.
Oil prices dropped in Asian trading and were set for a weekly loss after U.S. President Donald Trump said he canceled planned military strikes on Iran and indicated a diplomatic accord was close. Brent and WTI declined, while traders weighed a significant drawdown in U.S. crude inventories that points to robust demand.
U.S. motorists are entering the peak summer driving period while domestic gasoline stocks have thinned significantly. Persistent demand at the pump, strong exports of diesel and jet fuel, and refiners' tilt toward higher-margin distillates have eroded the once-comfortable inventory cushion. With inventories at seasonal lows and distillates at multi…
President Donald Trump told reporters the Strait of Hormuz will be reopened once a "great settlement" with Iran is signed, an outcome he said could come within days. He described the deal as ending Iran's pursuit of a nuclear weapon, called off planned strikes earlier in the day and said he had spoken with regional leaders about the agreement. Tehr…
U.S. President Donald Trump announced the cancellation of scheduled strikes against Iran that had been slated for Thursday evening, saying that discussions with Iran have been elevated to the highest level of Iranian leadership and approved. He indicated that multiple regional and international parties have signed off on the "discussions and final …
The U.S. Department of Agriculture has reduced its U.S. winter wheat production forecast for 2026/27 by 2% from last month, citing a severe drought across the Plains that has driven the hard red winter wheat estimate to its lowest level since 1957. The agency now projects total winter wheat production of 1.030 billion bushels, with hard red winter …
A wide range of governments have introduced measures to protect consumers and critical supply chains from sharply higher energy prices tied to the U.S.-Israeli war on Iran and disruptions near the Strait of Hormuz. Responses vary from direct subsidies and tax relief to release of strategic stocks, limits on exports and demand-reduction policies, re…
President Donald Trump said he favors taking Kharg Island, Iran’s key oil export hub. Military analysts say U.S. forces could likely capture the island quickly, but occupation would expose troops to missile and drone strikes, require sustained logistical protection, and could lengthen rather than shorten the war. The island handled the vast majorit…
Crude benchmarks for Oman, Dubai and the UAE’s Murban rose Thursday amid heightened tensions between the United States and Iran after comments from the U.S. president. Market moves coincided with reported reductions in Saudi shipments to China and shifting refinery purchases, and a separate purchase of Murban for delivery to India was recorded.
U.S. Central Command says a U.S. jet fired two Hellfire missiles into the engine room of the tanker Jalveer off Oman after its crew failed to follow directions. The vessel, flagged to Guinea-Bissau and reportedly carrying Iranian oil, is the third Indian-crewed tanker struck by U.S. forces this week. Authorities report the 20 crew members are safe …
The Baltic Exchange's dry bulk freight index slipped to a more-than one-month low as capesize vessel rates fell sharply. The overall Baltic index dropped 42 points to 2,729, while capesize earnings fell by $1,456 to $34,048 per day. Iron ore futures weakened amid rising shipments and subdued steel demand in China, while the panamax segment posted m…
From a subterranean operations center, the commander of Ukraine’s drone forces is orchestrating an intensified campaign to sever land access to Crimea. Using data-driven targeting and a rapid expansion of mid-range and deep strikes, his unit reports major reductions in traffic along the Novorossiya highway and significant attrition of Russian air d…
Fuel supplies on the Russian-held Crimean peninsula collapsed at many retail stations after renewed Ukrainian drone attacks further disrupted the land and sea routes that deliver petrol. Witnesses reported most pumps in Sevastopol empty and long lines outside the lone operating station in Yevpatoriya. Local officials said distribution was hindered …
The European Union's recent restriction on public financing for Chinese-made solar inverters is set to affect at least 14 gigawatts of planned capacity - more than 20% of the bloc's annual installations - according to calculations cited in reporting. The measure, prompted by concerns that internet-connected inverters from so-called "high-risk" supp…
