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
Citi projects Brent crude could reach $120 a barrel in the near term and lays out a bull-case of $150 if flows through the Strait of Hormuz begin to normalize in the third quarter. The bank also presents a central 2027 range of $80 to $90 per barrel, forecasts a 2026 contraction in oil demand growth of 0.6 million barrels per day, and expects globa…
European wheat futures rose after U.S. market gains and reports suggesting China may buy more U.S. grains and soybeans. Traders said the gains were tempered by a lack of detail and confirmation from China, while weaker crop ratings and an Algerian tender added to market focus. Benchmark September milling wheat on Euronext ended up 0.8% at 215 euros…
Natural gas deliveries to nine principal U.S. liquefaction terminals are set to fall to the lowest level in 16 weeks, driven by scheduled spring maintenance and intermittent plant outages. Projected feedgas volumes decline to 15.1 billion cubic feet per day from 16.3 bcfd the previous day, with average May flows below April’s monthly record.
European natural gas benchmarks rose on Tuesday, with the Dutch TTF front-month holding above 50 euros per megawatt hour, as the ongoing Iran war intensified worries about global supply. Market gains followed data showing a drop in LNG imports to Europe and reports of potential disruptions from planned industrial action in Australia and scheduled m…
Citi analysts warn that aluminium is encountering one of the largest modern supply shocks, with inventories at multi-decade lows and spare capacity nearly exhausted. The bank expects inventories to fall to fresh all-time lows in the next 6-12 months, projecting an average price of $4,000 a tonne in the second half of 2026 and a bull-case average of…
Indian Oil Corp is reporting a loss of 617 rupees ($6.39) on each 14.2-kilogram liquefied petroleum gas cylinder sold, a sharp rise from 171 rupees in April, driven by supply disruptions linked to the Iran war and the closure of the Strait of Hormuz. The state-run fuel retailer has diversified crude, LPG and LNG sourcing, purchased LNG from non-Mid…
U.S. President Donald Trump called off planned strikes on Iran after Tehran routed a fresh peace proposal to Washington through Pakistan, saying there is a "very good chance" of reaching a deal to curb Iran's nuclear programme. The announcement eased some of the recent market tension: crude prices retreated slightly but Brent crude remained above $…
Faced with sharply higher gasoline costs, Americans are altering travel choices and inventing practical workarounds. From a handyman who mounted a small gas engine on a Power Wheels toy to families staying closer to home and a rise in bus ridership, individuals and organizations are responding to sticker shock at the pump. Community efforts such as…
Nickel prices ticked up after Tsingshan Group asked nickel pig iron producers at its Weda Bay industrial park in Indonesia to cut output so electricity can be redirected to aluminium production. The move highlighted how the company's aluminium expansion is already constraining its nickel output capacity and raised short-term supply concerns for the…
Ukraine has intensified use of mid-range drone strikes - operations conducted tens to hundreds of kilometres behind the front - to target Russian air-defence systems, logistics and critical energy sites. Commanders and analysts say the scaling of these operations is complicating Russian battlefield support, enabling longer-range attacks to penetrat…
Gold edged higher in Asian trade after U.S. President Donald Trump said he postponed a planned attack on Iran and that negotiations were underway. An easing in U.S. Treasury yields and a sharp drop in oil prices following the comments supported the rally in precious metals, while bond-market selling took a breather.
On May 18 the U.S. Senate confirmed Steve Pearce to head the Bureau of Land Management (BLM). The confirmation occurred as part of a single bloc vote approving 49 nominees by 46-43. Pearce, a former oilfield services owner and ex-congressman from New Mexico, has signaled support for expanded fossil fuel development on public lands and previously ad…
Oil prices fell in early Asian trading after U.S. President Donald Trump said he had put off a planned attack on Iran while negotiations continue. Prices were further pressured after the U.S. Treasury announced another 30-day extension of a sanctions waiver permitting the purchase of seaborne Russian oil, a move intended to soften supply disruption…
Facing a combination of sharply higher fuel and fertiliser prices linked to the Iran conflict and an increasingly dry outlook for large swathes of the country, many Australian growers are cutting back on wheat planting and reducing fertiliser applications. Farmers report halving intended wheat area in some cases, while analysts estimate national pl…
U.S. Treasury Secretary Scott Bessent announced a 30-day extension of a temporary sanctions waiver that permits purchases of Russian seaborne oil and petroleum products already loaded on vessels. The move, intended to provide relief to energy-vulnerable countries cut off from Gulf shipments amid the U.S.-Israeli war with Iran and the closure of the…
Industry specialists say an agreement for China to boost purchases of U.S. agricultural goods could prompt Brazil to redirect exports to markets where U.S. shipments pull back. Key Brazilian exports to China were worth $55.22 billion in 2025, with soybeans and meat the largest components. Estimates of the deal's full effect remain tentative, but Br…
Protests that began as early-May strikes have expanded into a countrywide movement in Bolivia, blocking highways for nearly two weeks, creating shortages of food, fuel and medical supplies, and prompting government and international responses. President Rodrigo Paz defends austerity measures while opponents, including supporters of former president…
The U.S. Treasury has renewed a temporary waiver allowing imports of sanctioned Russian seaborne oil for an additional 30 days after the waiver lapsed. The extension follows requests from several unidentified countries that face disruptions to Gulf oil supplies linked to the Iran war and the closure of the Strait of Hormuz. Brent crude climbed on s…
US corn futures rose sharply in mid-day trading after a White House fact sheet formalized China’s pledge to buy substantial volumes of American farm goods, including a commitment of at least $17 billion per year for 2026 (prorated), 2027 and 2028. The move reversed a late-week selloff, with market participants citing renewed export demand prospects…
European natural gas benchmarks fell on Monday, tracking a drop in crude oil after reports the U.S. considered a temporary waiver on sanctions for Iranian crude. Prices eased as some demand was tempered by warmer temperatures and strong renewable generation, while many gas contracts remained sensitive to movements in oil markets.
Copper prices fell to their lowest level in a week as traders trimmed long positions following weaker-than-expected Chinese industrial production data, while rising crude oil futures - driven by an attack on a nuclear facility in the United Arab Emirates and stalled efforts to end the U.S.-Israeli war on Iran - added pressure to the market.
Pakistan has transmitted an updated Iranian proposal for ending the Middle East war to the United States, Pakistani officials said, while warning that negotiators have limited time to bridge outstanding gaps. Tehran confirmed its positions were relayed through Pakistan but provided no substantive details. The ceasefire remains fragile after six wee…
Global bond markets have roiled financial markets, undermining a stock-market rally fuelled by heavy investment in artificial intelligence. Long-term government yields in the United States and elsewhere have climbed to levels not seen in years, while crude oil has surged above $110 per barrel amid renewed tensions in the Gulf. Policymakers and inve…
A sharp rise in tungsten prices, driven by export curbs and tighter supply, has prompted U.S. drill bit makers to boost production of steel-body polycrystalline diamond compact (PDC) bits. While this shift helps rein in sticker shock for drillers, it introduces tradeoffs in durability and could raise the cost of new wells, complicating expected U.S…
Recent U.S. government biofuel blending mandates and a sharp rise in diesel prices tied to the U.S.-Israeli conflict with Iran have combined to restore profits to refinery renewable fuel operations. Mandates require a large increase in biodiesel and renewable diesel use and continue the long-running ethanol blending requirement, helping push Renewa…
