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
The global oil market has so far absorbed more than a billion barrels of lost supply since the Iran war began, aided by alternative exports, demand adjustments and large emergency stock releases. But with strategic inventories depleted, critical infrastructure damaged and ceasefire progress uncertain, the world now operates with a diminished safety…
Silver (SI) is trading at $62.08 on the 4-hour chart, confronting the 38.2% Fibonacci retracement at $62.13. Short-term indicators show an uptrend that is losing momentum near this resistance, creating a clear decision zone that could produce either a bullish continuation to $64.11 and beyond or a rapid retracement toward the $59-$60 support area.
Gold is trading at $4,162.55 on the 4-hour chart and has reached significant resistance at the 50% Fibonacci retracement level of $4,179.50. Short-term indicators show strong bullish momentum, but the metal remains below the 200-period moving average at $4,327.60 and faces layered resistance from the Ichimoku Cloud and a high-volume Point of Contro…
Australian Prime Minister Anthony Albanese apologised after making a crude remark about singer Kylie Minogue during a comedy podcast interview. The exchange, in which he answered a 'marry, date or shag' question posed by host Nikki Osborne, drew criticism from women's rights groups and opposition lawmakers, including senator Sarah Henderson.
Gold climbed in Asian trading as a weaker dollar and reduced market expectations for Federal Reserve rate hikes this year supported the metal. Spot gold traded higher after recovering from eight-month lows last week, while futures posted larger gains. Market attention remains on U.S. inflation and labor data, and the Fed's June meeting minutes due …
Oil prices drifted lower after OPEC+ agreed to lift production targets for August, reinforcing expectations of a better-supplied market. Traders are paring back the geopolitical risk premium that built during the Iran conflict as exports through the Strait of Hormuz recover, while analysts point to a bearish futures curve and growing prospects of a…
Oil slipped modestly after OPEC+ agreed to a further lift in production targets for August, even as exports from major Gulf producers show signs of recovery. Market reaction was muted given ongoing shipping disruptions through the Strait of Hormuz and uneven restoration of output among key members, while Russian shipments reached record levels in J…
Iran has initiated discussions with Japanese companies about resuming crude oil sales under a U.S. sanctions waiver issued June 22 as part of a 60-day peace process. The waiver runs until August 21, and potential Japanese buyers are pressing for an extended waiver and guarantees related to vessel security and insurance. Shipping hazards in the Stra…
OPEC+ members led by Saudi Arabia and Russia approved an addition of 188,000 barrels per day to their joint production quota for August. The increase, agreed at a video conference, brings cumulative quota restorations since the onset of conflict to 940,000 bpd. The decision arrives as Brent crude has retraced sharply from wartime peaks and as physi…
OPEC+ members are set to approve another rise in output targets beginning in August, with an increase of 188,000 barrels per day on the table. The incremental boost follows similar monthly increases in June and July, but a full return of supply remains constrained by disruptions to shipping through the Strait of Hormuz and the recent exit of the UA…
Authorities in St Petersburg and the surrounding Leningrad region reported a major overnight Ukrainian drone attack, with local officials saying the city and the Vysotsk port were struck. St Petersburg Governor Alexander Beglov called the assault "large-scale," while Leningrad region Governor Alexander Drozdenko said 72 drones were shot down and th…
A severe heat wave forced cancellations and postponements of dozens of public Independence Day events across much of the central and eastern United States, including a temporary closure of the Great American State Fair on the National Mall in Washington. Authorities issued broad heat alerts and urged caution as temperatures and heat indices climbed…
PJM, the largest U.S. grid operator, said it was under a federal alert and ordered reductions in consumption from customers contracted to curtail during emergencies as generator outages, overloaded transmission lines and intense heat raised the risk of supply shortfalls. Spot prices in northern Virginia surged past $2,000 per megawatt hour this wee…
Peru’s electoral office declared conservative Keiko Fujimori the winner of the June 7 runoff after an extended review of contested ballots. Fujimori captured 50.135% of the vote versus leftist Senator Roberto Sanchez’s 49.865%, a gap of roughly 50,000 votes out of about 18 million cast. The result caps a fraught process marked by protests, allegati…
Americans are proceeding with Independence Day travel plans even as gasoline prices stay well above last year’s levels. Price relief from reduced geopolitical risk has moderated fears of supply shocks, but U.S. gasoline inventories - particularly on the Gulf Coast - remain low and could keep upward pressure on pump prices.
Gulf oil shipments climbed sharply in June, rising by more than 3 million barrels per day from May to top 10 million bpd, driven largely by a record rebound in United Arab Emirates exports and increased movement through the Strait of Hormuz. U.S. military assistance and a June 17 agreement between Washington and Tehran to halt hostilities accelerat…
Iran has started negotiations to sell crude to Japanese companies, but potential buyers are requesting a longer U.S. sanctions waiver and guarantees about safe shipping in the Gulf, according to three Iranian and Western sources. The United States authorised limited Iranian oil sales in June as part of diplomatic efforts tied to nuclear inspections…
Global oil benchmarks were largely unchanged on Friday as market participants weighed fragile US-Iran negotiations aimed at easing tensions in the Strait of Hormuz against recent military exchanges. Brent inched higher while WTI was effectively flat; weekly moves were muted. Renewed shipping through the strait and rising Gulf output have reduced ne…
European natural gas prices rose to a three-week high as lingering worries about slow storage refills and infrastructure disruptions outweighed diplomatic progress in Qatar. Front-month Dutch and British contracts remained supported by a sluggish injection season, constrained Norwegian pipeline maintenance and fierce global competition for LNG carg…
Global crude benchmarks rose marginally on Friday as traders entered a long U.S. holiday weekend with guarded optimism over peace efforts between the United States and Iran. Gains were small after the previous session's lows and amid signs that some producers and tanker movements are increasing supply from the Gulf.
Oil prices slipped as signs of ample near-term supply and recovering Gulf crude flows reduced the geopolitical premium, even as market participants watched U.S.-Iran negotiations and pared some short positions before a U.S. holiday. U.S. WTI futures were down modestly, with market structure and Chinese buying by independents influencing near-term b…
Gold steadied on Friday following weaker-than-anticipated U.S. nonfarm payrolls for June, a development that trimmed bets on further interest-rate increases and helped the metal recover from earlier losses. Spot and futures gold moved higher, while other precious metals and the U.S. dollar reacted to the data. Trading volumes were subdued ahead of …
A divided 9th U.S. Circuit Court of Appeals panel upheld a South Coast Air Quality Management District rule that prohibits manufacture, sale and installation of certain nitrous oxide-emitting appliances in four Los Angeles-area counties. The June 2024 zero-emissions regulation, aimed at cutting smog and meeting federal ozone standards, survived cla…
Australia's Department of Industry, Science and Resources has warned that actions by China Mineral Resources Group (CMRG) to lower costs for Chinese steelmakers could put downward pressure on iron ore benchmark prices over the medium term. The advisory, published in the department's Resources and Energy Quarterly, highlights CMRG's stepped-up activ…
Kuwait's crude oil production climbed to 1.65 million barrels per day in June, supported by a late-month surge that pushed daily output to as high as 1.9 million bpd in the last 10 days of the month. May output had been roughly 580,000 bpd, significantly below pre-war levels of about 2.5 million bpd. The recovery has enabled Kuwait to ramp up shipm…
