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
On the one-year anniversary of his broad tariff announcement, President Donald Trump issued new proclamations imposing high duties on certain branded pharmaceutical imports and revising steel, aluminum and copper tariffs. The measures aim to restore duties lost after the Supreme Court struck down prior tariffs and to push supply chain changes, whil…
The U.S. Department of the Interior announced plans to provide employees with options to leave the agency through a deferred resignation program and voluntary early retirement as part of a broader efficiency initiative. The agency said it will reallocate more National Park Service positions toward visitor-facing duties and modernize procedures such…
President Donald Trump signed a proclamation that preserves a 50% Section 232 tariff on commodity imports of steel, aluminum and copper while changing how duties are applied to derivative products made from those metals. The move shifts some tariffs to be based on U.S. customer prices, removes the duty for low-metal-content items, and sets a flat r…
J.P. Morgan projects near-term oil could trade between $120 and $130 per barrel, with the prospect of topping $150 if disruptions to flows through the Strait of Hormuz continue into mid-May. The bank's central scenario assumes negotiations will eventually ease the disruption, keeping prices above $100 through the second quarter before a retracement…
The Environmental Protection Agency and Department of Health and Human Services announced a joint effort to monitor microplastics and pharmaceuticals in drinking water, marking their addition to the sixth Contaminant Candidate List and the release of human health benchmarks for 374 pharmaceuticals. The move initiates testing and research funding un…
The administration plans to retain a 50% tariff on commodity steel and aluminum imports while lowering duties on finished goods made from those metals to either 15% or 25% depending on the product. The change, aimed at easing compliance, would apply the lower rate to the full value of imported derivative products rather than just their metal conten…
The recent surge in global fuel prices has highlighted divergent capacities across South American economies to absorb an external shock. Argentina, under President Javier Milei’s free‑market agenda, faces mounting pressure as fuel increases push up transport, food and household costs, complicating efforts to bring down inflation. Neighbors from Chi…
Front-month U.S. crude futures surged to their largest-ever premium over the second-month contract on Thursday, with May WTI trading roughly $15.70 per barrel above June. The sharp backwardation followed U.S. President Donald Trump’s pledge to continue attacking Iran and comes as the U.S.-Israeli war on Iran, now nearing the end of its fifth week, …
President Trump's speech promising harsher strikes on Iran, without outlining a plan to reopen the Strait of Hormuz, pushed U.S. crude oil higher by more than 10% and set U.S. retail fuel prices on a path to steep increases. Gasoline is projected to rise to $4.25-$4.45 a gallon next week and could top $5 within a month if the strait remains closed.…
U.S. Secretary of State Marco Rubio warned that China’s detentions of Panama-flagged vessels following a Panamanian court decision raise serious concerns about using economic measures to challenge Panama’s legal sovereignty. The U.S. Federal Maritime Commission said it is closely monitoring an uptick in detentions that appears tied to a Panama Supr…
Satellite imagery from late March indicates significant damage to storage infrastructure at Russia’s Primorsk oil terminal, with at least eight large reservoirs struck and an estimated 40% loss of storage capacity. Combined with pipeline closures and seizures of tankers, the strikes have curtailed a substantial portion of Russia’s export capability…
Three industry sources say Ukraine's recent drone strikes on port infrastructure, pipelines and refineries have knocked roughly 1 million barrels per day - about 20% of export capacity - out of operation, forcing an imminent reduction in Russian oil output as pipeline systems and storage near capacity. The move would tighten global supplies already…
A prime-time presidential address that indicated another two to three weeks of military action in Iran, and contained few operational details, prompted a fresh risk-off move across financial markets. Brent and WTI crude climbed, Asian and European equities fell, the dollar strengthened and U.S. Treasuries sold off. Early U.S. economic readings show…
Britain will chair a virtual meeting of roughly 35 countries to examine options for reopening the Strait of Hormuz, which Iran has effectively closed. The United States is not scheduled to attend. Attendees will consider diplomatic and political measures and an initial focus on clearing mines before protecting tankers, with further military plannin…
UBS is holding to a bullish forecast for gold, saying the metal should hit fresh highs this year and that recent declines offer buying opportunities. The bank trimmed its 2026 gold projection to $5,000 per ounce but left 2027 and 2028 estimates unchanged. UBS also flagged resilient Chinese ETF inflows and physical demand, while cautioning that indu…
Australian growers are shifting away from nitrogen-intensive crops such as wheat and canola toward lower-nitrogen alternatives like feed barley as rising fertiliser and diesel costs linked to the Iran war affect planting decisions. Skyrocketing urea and diesel prices, disruptions to supplies through the Strait of Hormuz and export curbs from major …
Iran's armed forces have been instructed to maintain heightened vigilance and readiness for any form of attack, according to statements carried by state media. Army commander-in-chief Amir Hatami directed operational headquarters to closely monitor potential adversary activity with what he described as 'utmost pessimism and accuracy' and to be prep…
Gold prices reversed a four-session gain in Asian trading after a U.S. presidential address signaled an escalation in operations against Iran over the coming weeks. Spot gold and U.S. futures fell sharply, while oil rebounded and the U.S. dollar strengthened. Investors are also watching upcoming U.S. jobs data for guidance on Federal Reserve policy…
Homeland Security Secretary Markwayne Mullin has revoked a policy that required his personal approval for department contracts exceeding $100,000, the Department of Homeland Security announced. The change follows a review of DHS procurement procedures and was framed as an effort to improve efficiency for taxpayers. Democrats had previously urged th…
Oil futures slipped in Asian trading after remarks from U.S. President Donald Trump that signaled a potential pullback from Iran and data showing a bigger-than-expected rise in U.S. crude stocks. Conflicting reports about ceasefire discussions in Tehran and an impending presidential address kept markets on edge.
President Donald Trump recommended this week that countries facing jet fuel shortages from the Strait of Hormuz blockade purchase fuel from the United States, saying "We have plenty." Government statistics and industry tracking firms say U.S. production and exports are insufficient to fully replace roughly 500,000 barrels per day that typically mov…
Oil prices dropped more than $1 early Thursday as traders responded to comments from U.S. President Donald Trump and awaited a planned national address that markets interpret could signal a U.S. pullback from the Iran conflict. Brent slipped to $100 a barrel while U.S. crude fell to $98.71, with analysts cautioning that a U.S. exit alone may not re…
The Australian government will make up to A$1 billion in interest-free loans available to businesses deemed essential to critical supply chains, including transport operators and fertiliser producers, to help them cope with rising fuel costs linked to disruptions from the Iran war. The move is framed as a short-term buffer against global shocks and…
U.S. farmers reported intentions to reduce corn acreage and expand soybean plantings for 2026, according to the U.S. Department of Agriculture's first survey-based prospective plantings report of the year. The agency tied the shifts to rising fertilizer and fuel costs associated with the Iran war, while quarterly grain stocks data show ample invent…
Venezuelan interim President Delcy Rodriguez’s administration is preparing to install new boards for state oil company PDVSA’s U.S. subsidiaries, including Citgo Petroleum, according to four sources close to the preparations. The effort follows U.S. recognition of Rodriguez as Venezuela’s leader in March and will require individual clearances from …
