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.
1,900 total articles
Opinion polls indicate Viktor Orban, who has governed Hungary since 2010 and drawn endorsements from both U.S. President Donald Trump and the Kremlin, may be defeated in a high-stakes election that many Hungarians view as a decision over the country’s future in Europe. A centre-right challenger led by former Orban ally Peter Magyar has capitalised …
Calculations based on preliminary production figures and prevailing oil prices indicate Russia’s mineral extraction tax on oil rose to roughly 700 billion roubles in April, about double March’s take. The increase follows a sharp surge in global oil prices after attacks on Iran that effectively shut the Strait of Hormuz, driving heightened demand fo…
On April 9 Israel reported that Naim Qassem, the leader of Iran-backed Hezbollah, was killed in an overnight strike in Beirut. Hezbollah named Qassem as its leader about a month after the killing of his predecessor. The announcement, if verified by Hezbollah, would represent a significant setback for the group and for Iran, one of its principal reg…
Goldman Sachs cut its second-quarter oil-price forecasts after a two-week U.S.-Iran ceasefire that includes reopening the Strait of Hormuz, citing a reduced near-term risk premium and signs of recovering flows. The bank left its third- and fourth-quarter oil projections unchanged and warned that price risks remain skewed to the upside in scenarios …
Goldman Sachs lowered its second-quarter 2026 price forecasts for Brent and U.S. crude to $90 and $87 per barrel, respectively, following the announcement of a two-week ceasefire between the U.S. and Iran. Markets initially pushed prices down on hopes that the Strait of Hormuz could reopen but rebounded amid doubts about the ceasefire holding and l…
A conditional two-week cessation of hostilities between the United States and Iran prompted a surge in tanker bookings by traders and refiners, with Taiwan’s state refiner CPC and commodity trader Glencore taking steps to move Middle Eastern crude toward Asia. While some vessels are already heading toward the Strait of Hormuz to exit the Gulf, ship…
Goldman Sachs reduced its second-quarter 2026 Brent and U.S. crude price forecasts to $90 and $87 a barrel respectively following a two-week ceasefire agreement between the U.S. and Iran. The bank cited a reduced near-term risk premium and increasing flows through the Strait of Hormuz, while warning that upside risks remain if disruptions persist.
Gold eased in Asian trade after modest gains a day earlier as renewed conflict risks in the Middle East and an uptick in oil pressured bullion. Market participants are also awaiting U.S. March CPI data for further signals on inflation and the Federal Reserve's path, while the dollar's stabilization limited bullion's upside.
Oil futures staged a recovery on Thursday following their largest one-day fall since April 2020. Continued disruptions in the Strait of Hormuz and fresh Israeli strikes on Lebanon, which risk unraveling a recently announced ceasefire with Iran, underpinned gains despite a prior session’s collapse driven by optimism over temporary calm.
President Donald Trump’s sudden decision to accept a Pakistani-mediated two-week ceasefire with Iran, after issuing an unprecedented warning that a civilization could be wiped out, has exposed the practical and reputational limits of his confrontational negotiating style. While U.S. officials framed the agreement as meeting military objectives, ana…
U.S. crude futures climbed on Thursday morning following a session marked by the largest daily decline since April 2020. The rebound came after U.S. President Donald Trump agreed to a two-week ceasefire with Iran. Prices were also reacting to heavy Israeli strikes in Lebanon and sharp diplomatic criticism from Tehran.
A two-week ceasefire announcement sparked sharp declines in U.S. crude and fuel futures, yet analysts warn that motorists and airline passengers should expect elevated pump and jet fuel prices through the peak travel season. Persistent uncertainty over the Strait of Hormuz, recent regional attacks and a higher geopolitical risk premium mean retaile…
Indiana Governor Mike Braun announced a 30-day suspension of the state’s 7% fuel usage tax to provide immediate relief to consumers facing higher pump prices tied to the U.S.-Israeli conflict with Iran. The temporary measure can be extended depending on developments in the Middle East. State officials said they will monitor retail stations to ensur…
A negotiated cessation of hostilities between the United States, Israel and Iran has paused active fighting but consolidated a new strategic reality: Iran remains politically resilient, its regional networks intact, and it now exerts de facto control over the Strait of Hormuz. Analysts and Gulf officials warn that unless a comprehensive settlement …
Hours from collapse, a concentrated Pakistani diplomatic effort overnight helped secure a temporary ceasefire between Iran and the United States and opened the door for direct talks. The initiative involved high-level contact across Washington, Tehran and regional capitals, and only gained traction after Pakistan obtained assurances that Israeli st…
During a visit to Budapest, U.S. Vice President JD Vance described Ukrainian President Volodymyr Zelenskiy’s reported comments about Hungary’s Prime Minister Viktor Orban as "scandalous" and supported Hungarian assertions that Kyiv sought to influence Hungary’s upcoming election by disrupting energy flows. The dispute has fed into a broader standof…
Investors sold roughly $950 million worth of Brent and U.S. crude futures in a concentrated block at 19:45 GMT, hours before a U.S. announcement of a two-week ceasefire with Iran. The trades - totaling 8,600 lots - occurred after settlement and were followed by a roughly 15% fall in crude futures to below $100 a barrel when the ceasefire was announ…
Iran told U.N. officials in Geneva it will approach the forthcoming negotiations with the United States with caution, citing a deep lack of trust, and indicated the six-week-old war has altered considerations for the legal framework governing passage through the Strait of Hormuz. The comments followed a Pakistan-brokered two-week ceasefire and arra…
Oil prices fell sharply by roughly 10-15% after news of a two-week ceasefire between the U.S. and Iran and a conditional reopening of the Strait of Hormuz. Barclays analysts say the decline may not be sustained and expect continued volatility, while shipping firms say they need greater assurances before resuming transits. Market participants will c…
A two-week ceasefire agreed between the U.S. and Iran has opened the prospect of resumed tanker traffic through the Strait of Hormuz, but shipowners, charterers and refiners are seeking technical clarification before restarting transits. Hundreds of laden tankers and more than 1,000 ocean-going vessels remain trapped inside the Gulf, and industry g…
Global markets rallied after U.S. President Donald Trump announced a two-week ceasefire with Iran, triggering a fall in oil prices below $100 a barrel and a broad move into risk assets. Equities from the United States to Asia jumped, bond prices climbed and the dollar eased. Traders caution that the ceasefire is conditional and short-term, and upco…
European natural gas futures fell sharply on Wednesday after reports that a temporary ceasefire between the United States and Iran could ease recent disruptions to Persian Gulf energy exports. The Dutch front-month TTF contract plunged 14.6% to 45.50 euros per megawatt hour by 06:06 ET (10:06 GMT), marking its largest one-day decline in almost a mo…
French President Emmanuel Macron said about 15 countries have mobilised under France's leadership to plan a strictly defensive mission, in coordination with Iran, to help resume traffic through the Strait of Hormuz after a US-Iran ceasefire. Macron welcomed the ceasefire but stressed that Lebanon remains a critical concern and should be included in…
British Prime Minister Keir Starmer will visit Gulf states on Wednesday to coordinate with partners on keeping the Strait of Hormuz open permanently after a U.S.-Iran ceasefire, his office said. Starmer welcomed the ceasefire and said allied diplomacy should convert it into a lasting agreement that enables the strait to reopen. The visit was planne…
U.S. President Donald Trump accepted a two-week ceasefire with Iran hours before a threatened deadline to strike if Tehran did not reopen the Strait of Hormuz, conditioned on the waterway resuming oil and gas traffic. Pakistan helped broker the pause; Iran said it would halt counter-attacks and allow safe passage if attacks ceased. The arrangement …
