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
U.S. energy firms added drilling capacity for a second consecutive week, pushing the combined oil and natural gas rig count to 547 in the week ending May 1, the highest reading since early April, according to data from Baker Hughes. Oil, gas and miscellaneous rigs each rose by one rig, but the total count remains below year-ago levels.
The U.S. administration has taken the position that the hostilities that began on February 28 have "terminated," as the 60-day period under the 1973 War Powers Resolution expired on May 1. Congressional Democrats rejected that reading of the law, pointing to ongoing U.S. operations aimed at blocking Iranian oil exports and saying the statute contai…
Tether reduced its gold purchases intended for backing its USDT stablecoin to about 6 metric tons in the first quarter, down from 27 tons in October-December. The issuer continues to hold significant gold across its two products - USDT and the gold-backed XAUT token - with total holdings around 154 metric tons. The reserves backing USDT remain larg…
The U.S. Treasury's Office of Foreign Assets Control has issued an advisory warning U.S. and non-U.S. persons that payments to Iran tied to safe passage through the Strait of Hormuz - including nominally charitable donations - carry sanctions risk. The alert follows Iranian proposals for fees on vessels transiting the strategically vital waterway a…
Yardeni Research says the closure of the Strait of Hormuz since February 28 removed more than 15% of global oil supply, yet Brent crude has only climbed into the $90 to $100 per barrel band. Six factors - including expanded bypass pipelines, emergency releases and regional price divergence - help explain the muted response, while demand trends and …
Venezuela's oil exports climbed 14% in April to 1.23 million barrels per day, the strongest monthly outflow in over seven years, driven by larger shipments to the United States, India and Europe. Data and PDVSA documents show 66 vessels left Venezuelan waters in April, up from 61 in March, as the country draws down inventories and lifts crude outpu…
Global equities have climbed on optimism around artificial intelligence and solid corporate earnings, yet a deepening dislocation between physical crude prices and futures markets is raising concerns of a much larger oil shock. Physical barrels are trading significantly above pre-crisis levels, reflecting disruptions around the Strait of Hormuz and…
Attacks linked to the war with Iran have removed roughly 20% of global LNG capacity, pushing prices in Europe and Asia sharply higher. At the same time the United States - the world's largest producer and exporter of natural gas - is awash in fuel but cannot move much more to international buyers because pipelines and existing LNG facilities are al…
This week delivered a dense slate of developments across central banks, energy markets and technology earnings. The Federal Reserve left its policy rate unchanged while its departing chair said he will remain at the Fed until "things have calmed down," and the meeting exposed an unusually high level of dissent. The Bank of Japan likewise recorded a…
Simultaneous April 25 attacks in Mali by militants tied to al Qaeda and separatist Tuareg rebels demonstrated how disparate armed groups can conduct coordinated strikes against the country's military government. Despite interventions by French, U.S., UN and Russian forces since 2013, these militant organizations - along with factions aligned with I…
European natural gas prices increased on Friday as the conflict involving Iran showed no signs of abating and shipments through the Strait of Hormuz remained significantly disrupted. The Dutch front-month contract at the TTF hub rose to 46.580 euros per megawatt hour at 09:50 GMT (05:50 ET), while political statements from both the United States an…
Analysis of official notices and tanker-tracking data shows Russia has become the dominant crude supplier to Syria, increasing shipments by about 75% to roughly 60,000 barrels per day this year. The flows, moved largely on vessels under Western sanctions or high-risk flags and often involving ship-to-ship transfers, cover a substantial portion of t…
Gold held steady in Asian trading after suffering two consecutive months of losses, with prices supported only modestly as uncertainty over the Iran war and the potential for higher global interest rates continued to weigh on the market. Muted volumes due to holidays in much of Asia and upward pressure on oil prices added to the cautious tone, whil…
California motorists saw average gasoline prices top $6 a gallon, the highest since October 2023, as disruptions tied to the Iran conflict reduced global oil flows and strained deliveries to the state. The spike has sharpened political disputes over state fuel taxes and energy policy while squeezing consumers and raising concerns about summer trave…
Oil prices rose in early Asian trade after a volatile finish to April, supported by concerns that disruptions tied to U.S.-Iran hostilities and bottlenecks in the Strait of Hormuz could keep supplies constrained. Brent futures jumped to $111.50 a barrel for July delivery, while U.S. WTI rose above $105 a barrel, underpinned by reports of possible U…
Central bankers from Tokyo to Washington are increasingly divided over how to react to a sharp energy shock. With Brent crude near $120 a barrel and visible splits on policy committees, investors may face more uncertainty, mixed messages on rates, and higher market volatility in the months ahead. High-profile votes at the U.S. Federal Reserve and t…
Venezuela's acting president Delcy Rodriguez said the country's monthly minimum income will be raised to $240 and pensions to $70, a 40% boost for retirees, as public sector workers stage protests over insufficient pay. Rodriguez framed the move as a step to restore wage purchasing power while noting uncertainty over the split between base salary a…
India has reduced export duties on diesel and aviation turbine fuel, cutting the levy on diesel to 23 rupees per litre from 55.5 rupees and lowering the export duty on aviation turbine fuel to 33 rupees from 42 rupees. Duties on petrol exports remain zero, and levy rates on petrol and diesel for domestic consumption were maintained. The moves come …
A 60-day legal deadline tied to the 1973 War Powers Resolution is set to expire on May 1 after the U.S. formally notified Congress following the start of military action on February 28. With the situation reduced to a tense stalemate over maritime routes and a fragile ceasefire in place, the administration is weighing whether to seek a 30-day exten…
Independent storage of jet kerosene in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub dropped about 4.7% week-on-week to 552,000 metric tons, the lowest level since March 2020, driven by a halt in imports and continued firm demand from inland locations, Insights Global reported. Other product movements included a 1% decline in gasoi…
Prices for Russia's Urals crude at western ports returned above $100 per barrel after a broad rebound in global crude values. Traders' calculations put Urals at about $104 FOB at Primorsk and roughly $106 FOB at Novorossiisk, supported by stronger Brent and supply-concern dynamics tied to strained US-Iran negotiations and tensions in the Gulf regio…
Repsol's CEO Josu Jon Imaz said the Spanish energy group is not rushing to pursue a U.S. listing or reverse merger for its upstream oil and gas unit, despite prior plans pointing to a potential 2026 liquidity event. While the unit is technically ready for the American market, Imaz said Repsol and its partner EIG remain aligned in preferring to wait…
Chicago Board of Trade grain contracts gave back earlier advances on Thursday, mirroring a pullback in global crude oil after it surged to a four-year high. Soybeans led the decline, while corn and wheat also eased from multi-week highs as market participants weighed oil moves, planting progress in the U.S. Midwest and new Indonesian import control…
Paraguayan President Santiago Peña will travel to Taiwan from May 7 for a state visit that officials say is intended to strengthen diplomatic and economic links. The trip occurs as China expands engagement with Paraguayan political circles and as internal debate grows over the economic costs of recognising Taipei. Peña's administration has reiterat…
UBS strategists say gold could reach about $5,900 per ounce by late 2026, driven mainly by investment demand, central bank buying and macroeconomic forces including expectations of a weaker U.S. dollar and declining real interest rates. Near-term volatility and elevated real yields related to an oil shock may limit immediate upside, but the bank vi…
