Today's Commodities Pulse
Lower‑48 gas producers expand output despite storage surplus
U.S. lower‑48 natural‑gas operators are adding production capacity even though storage inventories remain in surplus, according to NGI. At the same time, spot prices are climbing as summer temperatures rise and LNG demand increases.
Also developing:
By the numbers: M Battery Materials acquires graphite assets for $20M
Indonesia’s EV Push Could Save $300 Bn and Cut 6 Bn Barrels of Oil by 2060
The International Council on Clean Transportation released a working paper showing Indonesia’s move to electric vehicles could reduce cumulative fuel consumption by 5.1‑6.7 bn barrels of oil equivalent and generate $255‑$321 bn in energy‑cost savings by 2060. The analysis links the shift to easing a fiscal burden that consumed roughly 10% of state spending in 2023 and to mitigating exposure to volatile global oil markets.
Sherritt International Halts Cuban Nickel Production Amid U.S. Sanctions
Sherritt International Corp announced the shutdown of its nickel mining, refining and power‑generation operations in Cuba after U.S. sanctions, sending its Toronto‑listed shares tumbling 42% on the news and leaving Cuba without a key source of hard currency and electricity.
Silver Prices Plunge 48% in 2026, Triggering Volatility Spike in Options Markets
Silver tumbled from an all‑time high of $118/oz in January 2026 to around $60/oz within months, igniting a sharp rise in volatility for silver options and futures. The swing reflects a mix of macro pressures, leveraged speculation, and persistent industrial...
China's April Coal Imports Drop 12.5% YoY to 33.08 Mt, Value Falls 6.2%
China's customs data show April coal imports slid to 33.08 million tonnes, a 12.5% year‑over‑year decline and 15.3% below March. The drop translated into a $2.62 billion import bill, 6.2% lower than a year earlier, underscoring softening demand for thermal coal amid...
Why Cereal Prices Have Skyrocketed Over The Years
Since its invention in 1863, breakfast cereal has become a staple, but its price has surged dramatically. A box that cost $20 in 1977 would cost about $100 in 2026, more than five times the original price. The rise stems...
China's Solar Boom Has Created a Massive Oversupply Problem
China now produces more than twice the global demand for solar components, driving a price war that has left many manufacturers indebted. Industry leaders and the government have convened to launch a $7 billion buy‑out of inefficient plants, impose capacity caps,...
The Worst Spring Drought on Record Is Putting U.S. Crops at Risk
The United States endured its worst spring drought on record, with more than 60% of the lower 48 states in moderate drought or worse. The Southeast was hit hardest, as nearly 100% of the region experienced moderate to exceptional drought—the...
DOJ Settles Antitrust Case Against Agri‑Stats, Raising Food‑Price Fears
The Justice Department announced a settlement of its antitrust lawsuit against Agri‑Stats, a meat‑industry analytics company. Critics argue the deal lets the firm continue sharing sensitive pricing data, potentially driving up chicken, turkey and pork prices for consumers.
European Stocks Slip 0.7% as Gulf Clashes Spur Energy‑Driven Sell‑off
Pan‑European equities fell 0.7% on Friday, with the Stoxx 600 closing at 612.14 points and Britain’s FTSE 100 slipping 0.4% to 10,233.07. The decline was sparked by fresh clashes in the Strait of Hormuz, rising Brent crude above $101 a...
Trump Urges China to Buy US Energy as Iran War Spikes Oil Prices and Fed Faces Pressure
President Donald Trump is set to ask Chinese President Xi Jinping to increase purchases of American oil and gas at a May summit, leveraging the Iran‑related Strait of Hormuz shutdown that has pushed U.S. gasoline prices above $4 per gallon....
Spirit Airlines' Collapse Highlights Jet Fuel Price Shock and $500 M Bailout Failure
Spirit Airlines halted all flights on May 2, 2026, after jet fuel costs surged to $4.51 per gallon—more than double its $2.24‑per‑gallon budget—while a proposed $500 million federal bailout was rejected by bondholders Citadel and Ares Management. The abrupt shutdown threatens jet‑fuel demand...
Oil Inventories Plummet, Looming Shortage Will Trigger Price Spike
The world is burning through oil inventories at the fastest pace on record. Since the US-Israeli war on Iran began, stockpiles have fallen by 4.8 million barrels per day, exceeding the peak COVID drawdown. Once inventories run dry, we will switch from...
Yen Surge Could Trigger Oil Price Crash
Japan's Yen Surge: The Oil Shock Threat Explained. We explore the real risk of a 'tail event' from Japan, focusing on a potential Yen surge and its devastating impact on oil prices. Discover the economic domino effect. TailEvent #YenSurge #JapanEconomy...
NYC Street Vendors Grapple with Soaring Costs as “Halalflation” Strains Supply Chains
New York City street‑food vendors are feeling the pinch of a supply‑chain shock dubbed “halalflation.” Rising food prices, $9 congestion tolls and higher fuel costs have cut profit margins, prompting calls for regulatory relief. The squeeze highlights how urban logistics...
Ryanair's 2025 Emissions Jump 50% Since 2019 as Jet Fuel Use Soars
Ryanair disclosed that its global CO₂ emissions in 2025 are 50% higher than in 2019, the steepest rise among the world’s top 20 airlines. The surge reflects soaring jet‑fuel demand in Europe, where low‑cost carriers have rebounded faster than legacy...
Manufacturers Face Crunch on Industrial Metals
The Iran war has sharply disrupted industrial‑metal supplies, pushing U.S. aluminum prices up nearly 90% as shipments from the Persian Gulf falter and tariffs jump from 10% to 50%. Automakers, which now use 30% more aluminum than in 2020, face...
Queue & A: CNG Drivers Line up for Answers as Demand Beats Supply
Commuters in Bhopal are confronting two‑hour queues at the city’s 28 CNG pumps, a stark contrast to the 191 petrol and diesel stations available. Demand for compressed natural gas has tripled over the past three years, yet supply has not...
Fuel Price Hike Coming? Oil PSUs Losing Almost ₹30,000 Cr per Month
Indian state‑run oil firms are absorbing roughly ₹30,000 crore ($3.6 bn) in monthly losses by selling petrol, diesel and LPG below market rates. Crude oil prices have jumped from about $69 a barrel in February to $114.4 last month, while the rupee’s...
Iran War Blocks 20 M Bpd in Strait of Hormuz, Shaking Global Oil Supply Chain
Iran’s shutdown of the Strait of Hormuz has halted roughly 20 million barrels of crude daily, a shock to the world’s oil supply chain. President Trump is expected to press China to buy more U.S. energy as the disruption fuels price...
Ofgem Lifts UK Energy Price Cap by 5%, Adding £94 to Average Household Bills
Ofgem announced a 5% increase to the UK energy price cap, lifting the average annual household bill by £94 to £1,931. The hike reflects soaring wholesale gas and electricity prices and will affect millions of consumers across England, Wales and...
Treasury Lifts I‑Bond Composite Rate to 4.26% as Gas Prices Surge
The Treasury announced a new 4.26% composite rate for Series I savings bonds effective May 1‑Oct 31 2026, up from 4.03% after CPI rose to 3.3% YoY. The hike, spurred by a 21.2% jump in gasoline prices following the Iran war, puts I‑bonds...
Tenaris to Acquire Artrom Steel Tubes for €86 Million ($93 M), Boosting Steel Pipe Capacity
Tenaris announced a definitive agreement to purchase 100% of Artrom Steel Tubes for €86 million (about $93 million) on a cash‑free, debt‑free basis. The deal adds roughly 450,000 t of steelmaking capacity and 200,000 t of seamless pipe rolling, pending EU and Romanian regulatory...
Renewed Iran Conflict Halts Chinese Rally, Drags Asian Stocks Lower
A flare‑up in the Iran‑U.S. conflict on Friday stopped a three‑day rally in China’s stock market and sent broader Asian equities sliding. Oil prices stayed above $100 a barrel, sparking currency weakness and inflation worries across the region.
Bank of America Strategist Calls Commodities the Biggest Trade of the Next Five Years
Bank of America strategist Michael Hartnett declared commodities the biggest trade of the next five years, anchoring his call on de‑globalization, chronic capital under‑investment and a shift away from dollar dominance. The thesis has sparked debate over a potential super‑cycle...
Oil-Price Bets Ahead of Iran War News Totalled $7 Billion, Reporting Shows
Reuters analysis uncovered a series of short positions on oil, diesel and gasoline futures worth roughly $7 billion that were executed minutes before four major U.S. announcements on Iran in March and April 2026. The trades, placed on ICE and CME...
Qatalum Maintains 60% Aluminium Output Amid Gulf Shipping Disruption
Qatalum keeps aluminium output at 60% as gas supply continues amid Gulf shipping disruption. https://www.metalnomist.com/2026/05/qatalum-aluminium-output-to-stay-at-60.html
Current Oil Price Low, but Inventory Deficit Just Arrived
Why do so many think today's oil price is too low? $106 WTI is 88% of the Ukraine-war peak, yet comparative inventory just moved into deficit In 2022, the C.I. deficit was 150x larger when oil was $120 Just because people think prices...
Fertilizer Squeeze: Why Soaring Import Costs Are a Policy Tightrope for India
India’s fertilizer import costs have surged after US‑Israel strikes on Iran, pushing global urea prices up 81 % in two months. The country relies on imports for 25 % of its urea, 90 % of phosphate and all potash, making the shockwave a...
$7 Diesel Cripples Trucking, Exposes US Oil Dependence
$7 diesel. NW Indiana. Bad for trucking. And supply chains. Imagine the price if the US did not have all that oil that Trump talks about.
Corn Bets May Be More Vulnerable than Soy
🔥Speculators built record bullish bets across U.S. grains & oilseeds in the first week of May, anchored by massive net longs in corn and soybeans. But which of those positions looks more vulnerable right now? I break this down in my...
Fluence Energy Shares Jump 33% on Q2 Revenue Upswing and Tightening Losses
Fluence Energy, Inc. saw its Nasdaq‑listed shares surge 33.08% to $25.25 after releasing second‑quarter results that showed revenue of $464.9 million and a net loss narrowed to $20.9 million. The jump reflects investor confidence in the company’s expanding energy‑storage portfolio and the...
Gold Holds Support, Poised for Range Breakout
Gold Price Forecast: XAU/USD Defends Key Support- Range Breakout Ahead https://t.co/YRJlERclMP $XAUUSD Weekly Chart https://t.co/SDW7ocoF3m
Iran Blockade Lowers Oil Prices, Confirming Original Prediction
When I first started pushing for an Iran blockade, my main point was that the big rise in oil prices already priced the incremental disruption to supply, so the pros outweighed the cons. That's been borne out. Oil prices are...
India's Sensex and Nifty Drop 0.7% as US‑Iran Flare Lifts Oil Above $100
Indian benchmarks slid roughly 0.7% on Friday as renewed US‑Iran clashes drove Brent crude above $100 a barrel. The Sensex lost about 500 points to near 77,300, while the Nifty 50 fell to around 24,160, even as the mid‑cap index...
Spain's Power Prices Plummet as Renewables Dom
NEW ANALYSIS: What's going on in Spain? Spain's wholesale electricity price in early 2026: €44/MWh. Italy: €127. Germany: €96. UK: €103. Wind+solar deliver 44% of generation. Gas sets price in just 9% of hours, down from 55% in 2022. Full analysis: https://t.co/ZpDqJ4goY2 https://t.co/nVuNjum8tX
Brent Slides 6% to $101, Monday Likely Flat
Brent futures price fell $6.88 (6%) from $108.17 to $101.29 week ending May 8 Downward or sideways price movement is likely on Monday based on 12-month spreads #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket https://t.co/mfF2wiV847
War with Iran Has Aviation Costs Sky High. Are There Alternatives to Jet Fuel?
The Iran‑Russia conflict has spiked jet‑fuel prices, forcing European carriers such as Lufthansa and KLM to trim routes. Sustainable aviation fuel (SAF), derived from sources like used cooking oil, waste and even human sewage, now accounts for roughly 0.6% of...
Falling Imports Reflect Export Collapse, Not Demand Destruction
falling imports isn't demand destruction, guys imports *have* to fall because exports have collapsed, going back to the discussion about the end of the "air pocket" then you draw down stocks, then prices rise, and then you destroy demand
US Oil Reserves Near Depletion by July If Hormuz Closed
My take on the upcoming oil inventory shortages: "If the Strait of Hormuz remains effectively closed, the US will come close to depleting its inventories of oil by the end of July. When inventories run out, we will face a real...
Indonesia, Philippines Launch $47 Bn Nickel Corridor to Secure EV Battery Supply
Indonesia and the Philippines signed a memorandum of understanding to establish a "Nickel Corridor" that will channel $47.36 bn of investment and create 180,600 jobs by 2030. The partnership links Indonesia's downstream smelting capacity with the Philippines' upstream ore, aiming to...
Enbridge Q1 Earnings Slip but FY26 Outlook Remains Intact
Enbridge Inc. posted first‑quarter earnings of C$1.67 billion ($1.24 billion), a drop from C$2.26 billion a year earlier, as non‑cash derivative adjustments weighed on results. The company reaffirmed its FY26 adjusted EBITDA guidance of C$20.2‑20.8 billion and declared a C$0.97 per‑share dividend.
Crude Oil at Record Premium Over Gas Signals Reversion Risk
Crude Oil's Extreme Premium vs. Itself, Natural Gas Crude has never stretched to a greater premium to its 100-week moving average and vs. the price of natural gas in the history of WTI futures trading (since 1985) and US natural gas...
Oil Inventories Plummet, Raising Spike and Shortage Risks
Bloomberg: “The world has burned through oilinventories at a record speed as the Iran war throttles flows from the Persian Gulf… The rapidly shrinking stockpiles mean that the risk of even more extreme price spikes and shortages is getting ever-closer, leaving governments...
A History of OPEC: Why Its Crisis Is Bad News
The United Arab Emirates announced it will leave OPEC on May 1, arguing that the cartel’s production quotas limit its roughly 5 million barrels‑per‑day capacity. The move marks the first exit of a major producer since OPEC’s founding and underscores a shift...
Wind‑storage Beats Coal, Slashes Germany’s Gas Costs
Firm wind+storage in Germany is now at $91/MWh, plummeting to $73 by 2030. It’s already cheaper than the marginal cost of coal and gas. This shift secures €250 billion in savings on Germany’s gas import bill by 2035 The math is...
Brazil Sets Record Soy Exports to China Amid Chinese Shortfall
🇨🇳China's soybean imports fell short of expectations again last month, but an armada of Brazilian soybeans is charging across the Atlantic. 🇧🇷Brazil exported more soybeans in April than in any month on record, with most of them destined for China. https://t.co/rLkRDdvjst
Ethiopia Leads Africa’s EV Boom as Fuel Prices Spike, $200M+ in Chinese Imports Arrive
Soaring gasoline prices have spurred a rapid rise in electric‑vehicle uptake across Africa, led by Ethiopia, which now has over 115,000 EVs and imported $200 million worth of Chinese models in 2025. The shift is reshaping demand, cutting fuel‑import bills and...
Analysts Predict Gas Prices, Miss Strait of Hormuz Reality
Wall Street analysts keep giving us gas price predictions for Memorial Day and end-of-year. They seem incapable of escaping the news cycle which is purposely avoiding the real truths on what's actually happening in the Strait of Hormuz. A thread....
WTI Spreads Hit Record Despite Lower Futures Prices
Record WTI spreads at lower futures prices than previous highs The market is pricing an acute near-term squeeze and a belief that it resolves #OilMarkets #WTI #Futures #Energy https://t.co/jobAC4TV8G
Alpha Metallurgical Resources Narrows Q1 Loss as Coal Prices Stabilize
Alpha Metallurgical Resources reported a first‑quarter net loss of $11.03 million, a sharp improvement from $33.95 million a year earlier. Adjusted EBITDA rose to $30 million, driven by higher metallurgical coal realizations despite a dip in tonnage, underscoring a stabilization in base‑metal prices.