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.
2,723 total articles
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…
Goldman Sachs models show that a 1 percentage point increase in U.S. diesel yield typically reduces finished motor gasoline yield by 0.8 percentage points as refiners redirect runs toward diesel when margins make it more profitable. In a prolonged Strait of Hormuz closure, OECD diesel inventories could remain above a 20-day critical threshold throu…
JPMorgan reduced its 2026 average gold price projection to $5,243 per troy ounce from $5,708, citing a cooling in near-term investor appetite and light positioning. The bank maintained its base-case bullish outlook, still forecasting a rise to $6,000/oz by year-end, and is watching a potential reopening of the Strait of Hormuz as the central cataly…
China has pledged to purchase at least $17 billion a year of U.S. agricultural goods, in addition to existing soybean commitments, for three years following a leaders' summit. The move would bring annual U.S. farm exports to China near $28 billion to $30 billion and necessitate increased imports of wheat, feed grains, meat and non-food agricultural…
Goldman Sachs has reaffirmed a bullish stance on gold with an unchanged year-end target of $5,400 per troy ounce after materially increasing its estimate of central bank buying. The firm updated its proprietary nowcast after identifying a systematic underestimation of sovereign purchases, pushing its 12-month moving average to 50 tonnes per month a…
Gold prices fell to their lowest level in about six weeks during Asian trading as surging global yields and persistent friction between the U.S. and Iran pressured the market. The dollar strengthened and other precious metals declined as investors weighed the inflationary risks of a prolonged Middle East conflict and the likelihood of tighter polic…
Oil prices climbed more than 1% in early Asian trade after a drone attack near the Barakah nuclear power plant in the United Arab Emirates intensified U.S.-Iran tensions. U.S. President Donald Trump warned that the "clock is ticking" for Iran to accept a deal, while reports indicated the U.S. and Israel have been discussing additional military opti…
A drone struck an electrical generator outside the secure perimeter of the Barakah Nuclear Power Plant in the United Arab Emirates, causing a fire but no radiological impact or injuries, Emirati authorities said. The incident comes amid a stalled diplomatic effort to end the conflict between the U.S.-Israeli coalition and Iran and to reopen Gulf sh…
At least four people were killed in Russia after Ukraine launched what Moscow described as the largest overnight drone attack on the capital in more than a year. Three fatalities occurred in the Moscow region and one in Belgorod; officials report dozens wounded and damage to residential buildings and infrastructure. Russia’s defence ministry said m…
The Venezuelan government has begun circulating a 63-page regulatory draft to operationalize a new hydrocarbons law, setting technical, fiscal and operational conditions for foreign and domestic companies that want to invest in the country’s oil and gas sector. The proposed regulations rescind the 1943 oil law and its 1969 regulations, create manda…
Draft implementing regulations for Venezuela's new hydrocarbons law indicate the Ministry of Hydrocarbons will decide royalty and tax rates on a project-by-project basis, overturning expectations that fixed rates below legal caps would be published. The law, approved in January, established a royalty ceiling of 30% and a maximum integrated hydrocar…
