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.
1,889 total articles
Bank of America analysts say past oil supply shocks have consistently boosted currencies of oil producers, notably the U.S. dollar and Canadian dollar, while weighing on currencies of energy importers such as the New Zealand and Australian dollars. The bank flags CADJPY and NZDUSD volatility as hedges that currently look attractively priced relativ…
Katyusha rockets were fired toward the U.S. embassy in central Baghdad on March 7, triggering explosions and sirens. Initial reports left damage and casualty status unclear, though a senior Iraqi security official said the C-RAM defence system intercepted one rocket and none struck inside the compound, with no American casualties. Iraqi authorities…
RBC Capital Markets says valuations for copper miners have climbed markedly since December, even as warehouse stocks have swelled. EV/EBITDA at spot prices for its coverage has risen about 20% and P/NAV roughly 10%, while copper itself is up about 14% year-to-date. The bank cites a so-called "halo trade" into commodities, seasonal and price-sensiti…
The conflict involving the United States, Israel and Iran has already triggered a substantial squeeze in oil and gas flows, sending global crude prices sharply higher and lifting pump prices worldwide. Damage to terminals and refineries, suspended shipments from major Gulf producers and continued attacks on shipping in the Strait of Hormuz mean tha…
In his first on-camera comments since recent regional strikes, the president of the United Arab Emirates described the country as being in a time of war yet resilient, saying the UAE is "no easy prey" and pledging protection for everyone in the seven-emirate federation. His remarks were delivered while visiting people injured in the strikes and wer…
Israeli forces carried out an airborne insertion near the town of Nabi Chit in Lebanon's Bekaa Valley overnight, residents and state media reported, and sustained strikes on the area killed at least 16 people in the past 24 hours. The action took place amid wider exchanges between Iran-backed Hezbollah and Israel that have prompted heavy Israeli bo…
Goldman Sachs' commodities strategists say recent disruptions around the Strait of Hormuz have increased the probability that global oil prices - particularly refined product values - could rise above the 2008 and 2022 peaks if reduced flows persist through March. The bank notes shipping through the chokepoint has fallen substantially, alternative …
China's central bank continued its steady accumulation of gold for a 16th straight month in February, increasing holdings by 30,000 troy ounces to bring total reserves to 74.22 million ounces. The buying streak coincided with a sharp rebound in spot gold prices and intensified geopolitical tensions in the Middle East, prompting institutional and re…
The White House has directed multiple federal departments to develop additional policy options to respond to steepening energy prices tied to the Iran conflict, prioritizing actions the president can take without congressional approval. Officials signaled the administration is preparing for the possibility it will need bolder interventions if oil a…
Retail gasoline and diesel prices across the United States have surged following recent hostilities involving the U.S., Israel and Iran, driving oil above $90 a barrel and lifting pump prices to levels not seen in months. The rise has hit Midwestern and Southern states hard, intensifying pressure on households and supply chains that rely heavily on…
U.S. Treasury Secretary Scott Bessent sharply criticized a recent JPMorgan analysis of the Development Finance Corp.'s ability to insure oil tankers in the Persian Gulf. JPMorgan estimated the DFC has about $154 billion in remaining lending headroom and said private markets are short roughly $352 billion in coverage for Gulf-bound vessels. The Trea…
Heavy crude grades from the U.S. Gulf Coast surged as Middle Eastern output curbs and the effective closure of the Strait of Hormuz pushed buyers toward U.S. barrels. Mars sour traded at an $11 premium to WTI, its highest level since April 2020, while benchmark Brent settled at $92.69 a barrel amid the supply disruption.
U.S. Senator Mark Kelly has advanced legislation to suspend the 18.4-cent-per-gallon federal gasoline tax through October 1, seeking to lower retail pump prices that have risen amid the U.S.-Israeli war with Iran. The proposal would require the Treasury Department to oversee the suspension to ensure that consumers receive the intended relief.
Japan, France and Canada are developing approaches separate from a U.S.-led critical minerals trade bloc to secure supplies of rare earths and other critical metals outside China. Proposed measures include import quotas, subsidies for Western Hemisphere projects, and a buyers' club led by Canada to build a dependable non-Chinese supply chain. Offic…
Goldman Sachs warned that oil prices may climb above $100 per barrel as early as next week unless there is evidence of a near-term recovery in crude and product flows through the Strait of Hormuz. The bank said it will revisit its price outlook if its assumption of a gradual normalization of flows over the coming days is not validated. Current base…
An analysis prepared by the Panama Canal Authority shows a 2.8% increase in vessel transits in the first four months of its fiscal year through January, with tankers, car carriers and dry bulk ships accounting for most of the growth. The authority reported 114 more transits than the same period a year earlier, reaching 4,156 vessels, and highlighte…
An escalation of conflict in the Middle East has effectively shut transit through the Strait of Hormuz and prompted production stoppages at key fertiliser facilities, sending fertiliser and fuel prices sharply higher. The disruption arrives ahead of spring planting in the Northern Hemisphere, threatening to inflate input costs for farmers already f…
The U.S. International Development Finance Corporation (DFC) will offer reinsurance for maritime losses in the Gulf region up to roughly $20 billion, intended to reassure oil and liquefied natural gas shippers amid halted transit through the Strait of Hormuz. The coverage, ordered by the President, will be rolled out initially for hull and machiner…
The White House said the United States is making significant progress toward asserting control over Iranian airspace and expects achievable objectives to be completed within four to six weeks. Press secretary Karoline Leavitt also confirmed the administration is reviewing potential candidates to replace Iran’s leadership, and reiterated the preside…
Energy markets have reacted strongly to recent military actions and transport disruptions in the Middle East, with benchmark gas prices jumping sharply after Iran closed the Strait of Hormuz and Qatar paused LNG production following drone strikes. Analysts warn that physical reductions in flows and shipping rerouting will tighten global LNG balance…
Gulf sovereign wealth funds - built from decades of hydrocarbon revenue and now holding roughly $5 trillion - are positioned to provide fiscal backstops as Iran-related attacks in the Gulf disrupt exports and raise costs. Recent strikes have cut shipments through the Strait of Hormuz, paused output at major facilities including Saudi Aramco’s large…
A Dubai-based private jet operator originally built to move pets between the UAE and the UK has seen its customer base shift to people seeking immediate exits from the region amid escalating military action. With commercial airports operating at reduced capacity and some airspace closed, private charters and flights out of neighbouring countries su…
The joint U.S.-Israeli strikes on Iran that began last Saturday and killed Iranian Supreme Leader Ayatollah Ali Khamenei have triggered intense retaliation from Tehran and a cascade of disruptions across the Middle East. Key maritime routes, production facilities and export flows have been interrupted, driving major benchmark oil prices sharply hig…
UBS strategists say that if fighting in the Middle East continues to disrupt tanker traffic through the Strait of Hormuz, oil prices could rise above $90 per barrel. Traders have already pushed crude toward strong weekly gains amid concerns that the waterway - which handles about 20% of global oil flows - could be closed. U.S. policy steps, includi…
Sao Paulo’s Biological Institute has planted about 1,500 additional coffee specimens at its Vila Mariana urban plantation to evaluate varieties billed as resistant to pests and coffee rust, as well as strains more tolerant of water stress. The institute, founded in 1927, continues research into biological pest control, soil and climate impacts on c…
