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
OCBC analysts argue that China's economy is comparatively insulated from oil shocks arising from the U.S.-Israel war with Iran because Chinese ships continue to transit the Strait of Hormuz, the nation holds substantial oil reserves, and oil plays a smaller role in its electricity generation. Rapid electrification and renewable capacity growth furt…
Heavy sour and medium crude grades from the U.S. Gulf Coast moved sharply higher as conflict in Iran prompted Middle Eastern producers to cut output and diverted buyers to U.S. barrels. Mars crude traded at its largest premium to WTI since April 2020, while broader benchmarks also climbed amid constrained flows through the Strait of Hormuz.
Oil futures rose roughly 20% in early trading on Monday, reaching levels not seen since July 2022, as the widening U.S.-Israeli conflict with Iran raised concerns about tighter crude supplies and sustained interruptions to shipments passing through the Strait of Hormuz. Market commentary highlighted reports that some Middle Eastern producers are cu…
Gold prices declined in early Asian trade as a rapid escalation in hostilities involving the U.S., Israel, and Iran redirected heavy flows into oil and the dollar. Bullion remained supported above $5,000 an ounce, but was outpaced by a sharp rise in crude and a stronger dollar after strikes on Iranian oil infrastructure and attacks on shipping in t…
Oil prices climbed sharply in early Asian trading as the widening conflict involving the U.S., Israel and Iran raised fears of prolonged supply disruptions. Brent futures for May briefly topped $111.04 a barrel before easing to $107.92 by 18:08 ET (23:08 GMT). The conflict entered its tenth consecutive day after air strikes hit oil facilities in Te…
U.S. crude oil futures jumped sharply on March 9 as an expanding conflict involving the United States, Israel and Iran stoked concerns about tighter supplies and potential prolonged disruption to shipments through the Strait of Hormuz. West Texas Intermediate spiked to levels not seen since July 2022, after a week of steep gains, while developments…
Top U.S. energy and diplomatic officials defended a 30-day waiver that allows Indian refiners to import Russian crude, arguing the pause will release barrels tied up at sea and help calm recent gasoline and diesel price spikes driven by concern over the Iran conflict. Officials said there is no physical shortage of oil or natural gas, and attribute…
Hussain Khrais, 66, who spent months and about $25,000 restoring his house in Khiyam after the 2024 clashes between Israel and Hezbollah, has fled his hometown as renewed hostilities and heavy Israeli airstrikes hit southern Lebanon. With roughly 300,000 people displaced and evacuation orders covering about 8% of Lebanese territory, families face r…
President Donald Trump said Britain was considering sending two aircraft carriers to the Middle East but asserted that the United States did not need them to prevail in its conflict with Iran. The comments, posted on Truth Social, continued a spat with British Prime Minister Keir Starmer after London declined to permit U.S. forces to use British ba…
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…
