Today's Commodities Pulse
UK energy bills surge to two‑year high as Europe feels shock from Iran conflict
UK households are set to face their deepest‑unwelcome energy bill increase in two years as wholesale prices climb amid the Iran‑related war. Analysts say the conflict will push household energy costs higher for the first time across Europe.
Also developing:
By the numbers: M Battery Materials acquires graphite assets for $20M
As War in Iran Roils Energy Markets, Europe Pays Price of ‘Dependency’
Europe’s energy markets were jolted on Thursday as military strikes on Qatar and Iran drove natural‑gas prices above €70/MWh and Brent crude past $114 per barrel, levels not seen since the 2022 Russia‑Ukraine war. French officials highlighted that 90% of the country’s diesel is refined outside the EU, underscoring a deep dependency on foreign fuel. The surge has hit transport operators hard, with taxi drivers and logistics firms reporting steep profit losses. EU governments are convening crisis meetings and debating tax cuts or price caps to ease the burden.
Oil $200 Price Unrealistic; Even $150 Doubtful
Of course it's possible that oil goes to $200. But that kind of price level basically assumes a return to full shut down for all oil coming out of the Persian Gulf and a very low price elasticity of demand....
Oil Surge Triggers Market Dip, Bitcoin Buying Opportunity
It's all about Oil and Natural Gas. Brent Oil hits $110 and higher. Natural Gas is skyrocketing. As a result, markets have been tumbling as another escalation is unfolding in the Middle East. If this doesn't consolidate, I don't see a reason for the...
If the Iran War Takes Oil Above US$120 a Barrel, How Bad Could the Shock Get?
The escalating US‑Israel‑Iran conflict has pushed crude prices above $120 a barrel as Iranian forces strike Gulf oil and LNG infrastructure and the Strait of Hormuz remains closed. Analysts warn that the disruption could evolve into a prolonged supply shock,...
Geopolitical Oil Surge Threatens India's Inflation and Rupee
Surging Crude Oil Prices: The geopolitical unrest caused Brent crude oil prices to spike past $115–$118 per barrel. As a major energy importer, this poses a significant risk to India's inflation outlook, the rupee, and corporate profit margins.
Iran Conflict Triggers Gold‑Crude Reversal Signal
Iran War Sparked Gold/Crude Reversion - Significant reversal potential, with a worthy catalyst, may be the takeaway from silver reaching its highest ever vs. copper and crude oil, and from the gold/crude ratio peaking in January. Was the Iran-US conflict...
Filipino Jeepney Drivers Struggle as Oil Prices Surge: ‘What We Earn Goes to Diesel’
The war in the Middle East has driven global oil prices higher, pushing Philippine diesel costs up more than double. Jeepney drivers like Toni Prado now earn as little as 200 pesos a day, down from roughly 1,000 pesos, prompting...
2026 Gold and Crude Face Pump‑Then‑Dump Threat
2026 Pump-Then-Dump Risks in Both Gold and Crude - Gold's big green 2026 annual candle to its Jan. 29 high of $5,595 an ounce risks turning red by year-end -- particularly if the Strait of Hormuz is secured -- with...
Gold Drops 12% Since War, Defying Safe‑Haven Expectation
I'm a fan of the debasement trade and think precious metals will keep going higher over the medium term. But the fact that gold keeps falling when it should act as a safe haven also isn't nothing. Gold is now...
Consus Ag Consulting AM Market Brief
Corn, soybeans and wheat rallied this morning as strength in the energy complex spilled over into grain markets. The rally is tied to heightened uncertainty from the expanding US‑Iran conflict, which has disrupted energy infrastructure and kept investors seeking safe‑haven...
All That Glitters: Gold’s Exceptional Performance in 2025 and Portfolio Implications
Gold delivered the strongest return among major asset classes in 2025, climbing roughly 64% and breaching $5,000 per ounce in early 2026 with an 18% January surge. The rally was fueled by heightened geopolitical risk, a weaker U.S. dollar, aggressive...
China Cutting Back Fertiliser Exports
China has imposed strict limits on fertilizer exports, banning nitrogen‑potassium blends and many phosphate varieties while allowing only a few products such as ammonium sulphate. The curbs affect up to 40 million tonnes, roughly half to three‑quarters of last year’s shipments,...
Oil Surge Boosts Trump TACO Risk, Yet Markets Hold
Brent is at $115. As oil prices rise, the risk of a Trump TACO also rises. That in turn depends on dysfunction in global markets. At the moment, even with Brent up 70% from a month ago, markets are looking...
A Dollar Disaster Looms
Gold and silver prices are sliding as concerns mount over the dollar and the broader fiat currency system. The decline mirrors the 2008‑2009 financial crisis, when gold fell from $1,000 to $680 before rallying to a $1,920 peak in 2011....
Profit‑taking and Portfolio Rotation Curb Gold Amid Risk
One of the most recurrent questions I’m seeing at the moment is – why are #gold prices not going up, when we’re seeing one of the biggest risk events in the last 10 years, and when gold was a major...
Oil and Gas Jump as Iran Strikes Gulf Energy Infrastructure
The episode covers the rapid escalation of Iran's attacks on Gulf energy infrastructure following Israel's strike on an Iranian gas field, which sent Brent crude above $116 a barrel and spiked European gas prices over 20%. Host Luke Vargas and...
Abaxx Joins Singapore Bullion Market Association, Boosting Kilobar Futures
Abaxx Singapore has been admitted as a Local Associate Member of the Singapore Bullion Market Association. The move underscores the launch of its kilobar‑native, physically deliverable gold futures contract and a pilot that uses digital title to mobilize vaulted gold...
We Can Tell You Who Will Really Get Rich From This Oil Crisis – and How We Can Stop Them...
Oil prices have surged above $100 a barrel, up from $60 earlier this year, as the Hormuz Strait bottleneck intensifies amid the US‑Israeli conflict with Iran. The spike mirrors the 2022 oil‑gas crisis, prompting governments to adopt emergency measures like...
Asian Stocks Sink After Oil Surges 5% and Energy Fears Rise
Oil prices surged over 5% on Thursday, with Brent breaching $113 per barrel after Iran struck Qatar's Ras Laffan LNG hub and threatened the South Pars field shared with Israel. The attacks reignited regional energy‑supply fears, sending European gas up more...
US Gas Prices Jump 37%, Reach 2022 High
Average US gasoline prices have surged 37% since the January lows, rising to the highest since 2022. The absolute price level, $3.88, is still within the range of normal from a historical perspective. But it's rising at an rapid clip,...
Stock Market Today: Oil Soars Past $115, Dow Futures Inch Lower
Oil prices jumped to roughly $115 a barrel after fresh attacks on Middle Eastern energy infrastructure, while European natural‑gas futures surged more than 20% following reports of extensive damage at Qatar’s Ras Laffan LNG plant. The price spikes triggered broad equity...
Updated Status of Precious Metals Correction
The Daily Gold released an updated analysis of the ongoing precious‑metal correction, zeroing in on junior gold miner exposure via the GDXJ ETF, the broader gold market, and the silver‑focused SILJ ETF. The note highlights that gold has stalled near...
Reserves Meant for Supply Shocks, Not Price Cushioning
Reserves shouldn’t be for cushioning prices at this point… you may never know with the madmen bombing everything in the Middle East, there may be no fuel coming in at all… the reserves are for such times…. If it was...
Fertilizer Shortage Hits Poor Nations, Rich Remain Unscathed
The fertilizer crisis brewing because of Hormuz is going to be felt predominantly by people in some of the poorest nations on earth. Americans will only barely notice. Why? 1. The US, China, Europe, and other rich regions apply so much...
North Sea Dated Surges Past $112 Amid Supply Shock
North Sea Dated jumps above $112/bl as Europe absorbs delayed supply shocks from the Mideast war. https://www.metalnomist.com/2026/03/north-sea-dated-benchmark-hits-highest.html
Treasury Secretary Hints at Unsanctioning Iranian Oil, Second SPR Release
What US Treasury Secretary Scott Bessent told @FoxBusiness about unsanctioning Iranian barrels -- and a potential 2nd SPR release. (I look forward to see how KSA, UAE, Iraq, Qatar, and Kuwait feel about unsanctioning Iranian oil barrels) https://t.co/buyI81abII
Gold Futures Extend Downward Trend, Key Support Holds
GC: overnight downside follow-through with more range expansion. Key reference point still in play. https://t.co/HJ2JZL0ipm
Oil Spike Is Tax, Not Rally, Hits Consumers
Brent near $110. WTI at $96-103. Strait of Hormuz blocked. $XLE at all-time highs. $SPY at 2026 lows. This is not an oil rally. This is a tax on every consumer, every margin, every growth assumption. https://t.co/QUhNdfGuZ7
Trolls Panic as Silver Nears Half Its January Peak
Funny reading back through the comments from the trolls now in a panic with Silver almost at 50% of its Jan high What ever happened to the Silver supply shortage and the big premiums in China?
2015 Yuan Devaluation Warns of Gold, Silver Risks
Commodities plunged post China yuan devaluation in 2015. I wonder if there is a signal here for Gold & Silver. China isn’t exporting their refined products to neighbors who are at great risk. China has 3-4 months of reserves itself -...
US Waivers De‑Stigmatize Russian Oil, Boosting Putin
Big thanks to @Aaron_Krolik for including me in this great @nytimes story on how Russia is a major beneficiary from the sharp rise in oil prices. Temporary US waivers of Russia sanctions are de-stigmatizing Russian oil and giving Putin a...
Platinum Now in Intermediate Bear Market; Risk of Full Rout
Platinum has now entered an intermediate bear market The problem with intermediate bear trends is that they can become complete routs https://t.co/MdjgBz11ky
Prolonged Disruptions Will Scar Oil Output, Keep Prices High
This is not good news for an already strained global energy market. The longer this goes on the more long-term damage will be done to oil production that will take markets longer to recover from. Oil prices will not “drop...
Brent Crude Spikes Past $118, Then Eases
“The price of Brent crude surpassed $118 a barrel on Thursday, an increase of nearly 10 percent, but has since pared some of those gains.” https://t.co/Z9YDmbtUW3
War‑time Gold Dips Then Soars: Expect Repeat Rally
Reminder from 2003 Iraq invasion, Gold dipped sharply right after start of war due to margin liquidation despite pre-war rally. Then roared for 7+ years. Today's US-Iran tensions + recent pre war rally = similar early pressure? Margin calls and sell the...
RBOB Futures Signal $4.10 AAA Gas Price Soon
$3.19 RBOB gasoline futures imply $4.10 AAA average gas price in a couple weeks https://t.co/7IwQpsyBoY
Middle East LNG Disruption
Disruption of LNG supplies from Middle East showing what an excellent idea it has been from our wonderful political class to run down the North Sea.
Iran Conflict Drives Oil, Fertilizer Prices, Crushing Farmers
NEW ODD LOTS HOW THE IRAN WAR WILL SQUEEZE AMERICA'S FARMERS EVEN FURTHER @TheStalwart & I brought back @AgrisAcademy's Jeff Kazin and Mike Rohlfsen to talk about how surging oil and fertilizer costs will make things even harder for farmers: https://t.co/sk6083JH4Y
Airlines Face Jet Fuel Shortage, Cancellations Loom
Airlines have been warned that they will face jet fuel shortages as soon as next month, risking flight cancellations
Gold Selloff Driven by Profit‑Taking, Margin Calls, and Speculation
Difnt explntns gold selloff by difnt people: 1. Reporters/Jr. anlysts: high inflation ends case 4 rate cuts 2. Jr.Traders: Selling few green holdngs to lock gains & absorb portfolio losses 4. AdvisoryNewsletters: Iran selling to finance ... 3. Sr Traders: Margin...
Gold Approaches February Low, Near Bear Market Threshold
Gold within striking distance of its February nadir as well... not far from bear market territory https://t.co/anEt7yJTiQ
Brent Surges, Outpacing WTI; Gold, Silver Plummet
Brent soars 6%... now $16-$17 above WTI... Gasoline futures jump another 8.5 cents... Gold and silver destroyed https://t.co/qLglGU9Cbr
Brent Surge Won’t Reach $150‑$200 Amid Capacity Limits
Brent is up 70% in the past month. This prices Strait of Hormuz tanker traffic at half its capacity indefinitely. With the Saudis diverting lots of oil to the Red Sea and Iran continuing to export, we're already almost at...
India Seeks More Fertilizer Imports Amid Supply Risks
MUMBAI/NEW DELHI(Reuters)-India, a leading importer of fertilisers, is in talks to increase purchases from Russia, Belarus and Morocco as Middle East tensions and China's export curbs risk tightening supplies ahead of the summer planting season - government and industry sources
European Gas Buyers Must Panic Immediately Amid Price Shock
European gas buyers need to panic ... now. Brutal for the more price elastic EM buyers here.
European Gas Prices Double in Four Weeks, Exposing Fossil Dependence
European natural gas prices keep on rising and have now more than doubled )+134%) in just four weeks from €29/MWh on 17 February to €67/MWh today. Geopolitical tensions and wars always drive up gas prices. Not a bug in the system....
Asia's LNG Shortage Revives Coal as Primary Fuel
MUST READ: Coal remains king — even in 2026. "... Across Asia, a sharp drop in liquefied natural gas supplies is pushing major importers back toward coal, undermining LNG’s long-held role as a stable energy anchor..." https://t.co/MZqvZYa8RD
Rising US Debt Drives Gold and Silver Surge
US national debt just hit ~$39T fueling fiat debasement fears. Gold's parabolic run to $5,000+/oz & silver to $120+/oz? Classic safe-haven hedge against exploding debt, uncertainty, central bank buying & weak dollar. $gld $slv https://t.co/IcA8Eo0nGL
European Gas Spikes 30% After Qatar LNG Plant Hit
European gas prices surge 30% after Qatar said the world’s largest LNG export plant was damaged in an Iranian attack (Still TTF futures are far from the record highs of 2022) https://t.co/FC5b6KjHpJ
EVs Shave 1.5 Mbpd Off Global Oil Demand
World 1.5MBPD displaced by EVs in 2024 China in 2025 Oil market not about the 100 mbpd we use, but the 1-2 mbpd YOY change Oil markets break on variations > 1-2MBPD China's vehicle fleet electrification has just removed 250ML/day of China's demand...