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
Fastmarkets Set to Launch New Rare Earth Spot Prices to Capture Global Trade Outside China
Fastmarkets will introduce three new global spot prices for dysprosium oxide 99.5%, terbium oxide 99.99% and ferro‑dysprosium 80% on March 19. The move responds to Chinese export controls and dwindling non‑Chinese supply, which have forced Japan and other magnet‑dependent economies to rely on stockpiles. By offering transparent, CIP‑based pricing, Fastmarkets aims to capture trade flows to Japan, the United States, South Korea and other importers. The benchmarks complement existing European warehouse prices and Chinese export rates, giving the market a fuller view of heavy rare‑earth trade.
Heating Oil Prices Near $4, Spiking From Middle East Tensions
If you heat with oil you are exposed to sky-high heating oil prices. US heating oil futures are near $4 per gallon and prices have almost doubled since February, driven by escalating disruption linked to the war in Iran and...
Calm Grain Markets, Chaotic Energy Markets
Australian grain markets are holding steady, with wheat around $300‑$330 per tonne and barley modestly firmer, while canola trades in the high $600s‑low $700s. In stark contrast, energy commodities have surged—crude oil sits near $95 a barrel, up about 50 %...
SPR Masks Shortage; Buy Cheap Future Oil Now
Sell the front, buy the future isn’t a trade—it’s a signal. The curve is too cheap in the back. Today’s SPR intervention is masking tomorrow’s shortage. #Oil #EnergyMarkets #SPR #Macro https://t.co/BTcsYGSuK0
Libya's Biggest Oil Field Shuts, Pipeline Fire Deepens Supply Shock
Libya’s largest oil field is going offline. Sharara exports halted after a pipeline fire—full shutdown within hours. Another supply hit in an already fragile system. #Oil #EnergyMarkets #Libya #SupplyShock
World Bank Predicts Commodity Prices to Plunge to Six‑year Low in 2026 Amid Historic Oil Glut
The World Bank released its March 2026 Commodity Markets Outlook, forecasting a 7% decline in global commodity prices this year – the lowest level since the 2020 pandemic lockdowns. The drop is anchored in a massive oil glut of about...
Middle East Conflict Fuels South African Petrol Shortage Fears
South Africa: Middle East conflict sparks fears of fuel rationing and petrol shortages in South Africa https://t.co/FvxkRqShtg
Price Hikes and Solar Surge Slash Pakistan’s LNG Demand
Pakistan’s LNG demand has dropped due to two main factors: 💰 The government hiked gas/power prices, resulting in demand destruction ☀️ In response to high utility bills, consumers and businesses rapidly installed solar panels (highlighted in thread below)
BIS Offers Explanation For 36% Silver Price Crash On January 30
The Bank for International Settlements (BIS) released a report attributing the 36% plunge in silver on January 30 to the expanding role of leveraged exchange‑traded funds (ETFs). Retail investors poured into double‑levered products such as AGQ, forcing rapid rebalancing in silver...
Seventh Oil Shock Arrives, Yet Recession Uncertain
The first five oil shocks since 1970 triggered recessions. The sixth one in 2022 didn't. Now we're in the seventh spike. 🔒 Members-Only https://t.co/E0T0q5vh0c
Fuel Supply Pinch Hits Junior Miners: AMEC
The Association of Mining and Exploration Companies (AMEC) warns that domestic diesel distribution bottlenecks are hampering remote Australian mining projects, especially junior operators. While fuel imports remain steady, major wholesalers are rationing supplies to independent distributors, creating uncertainty for smaller...
Oil Marches Higher as Mideast Crisis Persists
Benchmark crude oil prices surged to multi‑year highs on Tuesday after Iran struck a critical Gulf oil terminal and Israel reportedly killed Iran’s security chief in a bombing. The attacks heightened concerns over regional supply disruptions, prompting traders to bid...
Market Watch: Nymex Clings to $3 Handle as Winter Wanes
April natural‑gas futures on the NYMEX edged up 1 cent to $3.033 per million Btu, keeping the contract near the psychologically important $3 handle. Gelber & Associates highlighted a tug‑of‑war between brief late‑season cold snaps and a broader spring‑warming trend,...
Oil Prices Top $103 as U.S. Allies Reluctant to Escort Tankers in Strait of Hormuz
Oil prices surged on Tuesday, with Brent climbing to $103.42 a barrel and U.S. crude reaching $96.21, reflecting a 2‑3% jump amid heightened geopolitical tension. President Donald Trump warned that NATO allies are unwilling to join a U.S.-led naval escort...
Gas Car Drivers Hit 5 Times Harder By Iran Oil Shock Than EV Owners
A Transport & Environment study finds that a sustained oil price above $100 per barrel would make gasoline drivers in Europe pay roughly five times more per 100 km than electric‑vehicle owners. The analysis, based on the 2022 Russia‑Ukraine shock,...
China Cannot Escape the Energy Shock
China is grappling with a global energy shock that has widened the price gap between its domestic fuel and the higher rates in neighboring Hong Kong. The disparity, driven by lingering subsidies and import dependence, prompts Hong Kong motorists to cross the...
Consus Ag Consulting Afternoon Wrap Up
Today's agricultural futures market moved in mixed directions before rallying across the board. Soybeans saw spread trading keep spot prices flat while deferred contracts gained, and the whole soy complex later rose on energy support. Corn prices were buoyed by...
Delayed Publication of European Magnesia Prices
Fastmarkets announced a delayed publication of six European magnesia price indices, covering calcined agricultural, Greek raw, dead‑burned (90% and 95% MgO), fused (97% MgO), and lump forms (90% and 97% MgO). The notice lists the specific product codes (MB‑MAG‑0012, 0013,...
U.S. Exploring Venezuelan Fertilizer Purchases
The U.S. Treasury is expanding sanction waivers to allow imports of Venezuelan fertilizer as part of a broader effort to curb soaring input costs for American farmers. The move follows comments from Ag Secretary Brooke Rollins that the administration is...
Gina Rinehart’s $2.4 Billion Rare Earth Fortune – by Tim Treadgold (Forbes Magazine – March 16, 2026)
Australian mining magnate Gina Rinehart’s rare‑earth holdings have surged to over $2.4 billion, driven by a global push to diversify away from China. The portfolio, once a modest side‑investment, now represents a significant portion of her $25 billion wealth. China still controls...
Uranium Market Facing Supply Crunch as Nuclear Fleet Grows – by Georgia Williams (Investing News Network – March 11, 2026)
The uranium market is entering a critical juncture as nuclear power demand accelerates while supply tightens. At the PDAC conference, Cameco’s president and a UxC analyst warned that structural constraints—geopolitical disruptions and project development risks—could reshape pricing and security for...
UK Steel Decoilers Bracing for 50pc Quota Cut
The UK Department for Business and Trade is poised to slash tariff‑rate quotas for steel imports by up to 50%, targeting hot‑rolled coil (HRC) and hot‑dip galvanized (HDG) products. Argus estimates the cuts would create annual shortfalls of roughly 488,000 t...
Gold Daily Call for March 17th, 2026
Gold prices are consolidating around the $5,000 level, trading sideways with no clear directional bias. The 4‑hour stochastic indicator failed to generate bullish momentum, while the daily stochastic is deeply oversold—the most extreme since early November—suggesting downside may be capped...
Rising Crude Prices May Push US Towards Recession, Warns Moody's Chief Economist Mark Zandi
Moody's chief economist Mark Zandi warned that a 49% chance of a U.S. recession looms within the next year as crude oil prices surge amid the U.S.-Iran conflict. Brent crude jumped nearly 40% in March, reaching $119.50 per barrel, while...
Copper Shortage Looms as Tariff Fears, Mine Disruptions Fuel Tightness
A significant copper shortage is projected over the next 15 years, with ING Group forecasting a 600‑kiloton refined copper deficit in 2026, extending the shortfall from the previous year. Ongoing mine disruptions and growing tariff anxieties are tightening supply further....
Canadians Paying the Least at the Pump Are Complaining the Most, Poll Says
A poll by the Angus Reid Institute finds Canadians in the cheapest‑gas provinces—Alberta, Saskatchewan and Manitoba—are the most vocal about the financial strain caused by rising pump prices. Nationwide gasoline has jumped 23% to $1.74 per litre since the Iran‑related...
The Tariff Mirage: Why Steel Prices Are Higher than They Should Be
U.S. steel prices remain elevated because tariff uncertainty adds a risk premium that outpaces weak demand and softening industrial indicators. Reduced imports have pushed buyers toward higher‑cost domestic mills, providing short‑term price support despite limited capacity. Ongoing legal challenges to...
Energy Storage to Emerge as Demand Driver for Lithium: Liontown CEO
Liontown Resources CEO Tony Ottaviano says large‑scale stationary energy storage is emerging as a second engine for lithium demand, reducing reliance on electric vehicles alone. Fastmarkets forecasts global storage installations will grow ~25% annually, reaching about 800 GWh by 2030 and...
Uncovering the Hidden Drivers of Commodities
CME Group’s economic research maps the long‑term drivers behind the Bloomberg Commodity Index (BCOM) and its six sectors. Historical analysis shows energy’s early‑2000s surge tied to China‑India demand and geopolitical shocks, while precious metals have led recent performance, with silver...
EU Hints at 'Soft Price Cap' For the ETS Before 3Q
EU climate commissioner Wopke Hoekstra signaled a soft price cap for the EU Emissions Trading System could be introduced before the third quarter, ahead of the scheduled ETS review in July. The Commission will first tackle the market stability reserve...
Gold, Silver Rates Today: Comex Gold Gains $47/Oz; Silver Rallies $2 as US Dollar Eases From 10-Month High
Gold rose to $5,049 per ounce and silver to $82.76 per ounce on 17 March as the U.S. dollar eased from a 10‑month high. The rally was fueled by the weaker dollar, central‑bank meeting anticipation, and a concurrent jump in crude‑oil...
Big Oil Uses Doom Forecasts as Lobbying Tool
Big oil has its prophets of doom. When it's unhappy, it trots them out to prophesy doom. One such forecast in 2022 was oil would hit $380 because of the G7 price cap. This is lobbying on behalf of big...
Diesel Hits $5 a Gallon
U.S. diesel prices broke the $5 per gallon barrier on Monday, reaching a nationwide average of $5.044, the highest level since December 2022. The surge represents more than a 33% increase since the Iran‑related conflict began, outpacing gains in other...
Atlanta Residents Share This Week's Gas Prices
If you live in Atlanta, what prices have you seen this week for gas? I’m trying to see something 👀👀
Oil at $150/Barrel Could Push Inflation to 6% Q2
PANTHEON MACRO: In a $150/barrel oil scenario, “we think inflation would peak in Q2 at about 6% ..” https://t.co/lFerTyCGCR
Gas Prices Likely Remain High Through 2027
Gas prices staying up into 2027? It’s becoming a distinct possibility. Thanks to retired Marine Lt Col @HalKempfer for taking the time to talk supply chain issues, energy security, and the new Great Powers competition. Link below.
Gas Prices Surge While Food Inflation Still Lags
An update on a critical chart: Gasoline prices continue to climb, but attention should now shift to food prices, which have yet to follow. Expect policymakers to call it transitory again, even as resource prices — despite volatility — remain elevated by...
Crude Oil's Market Ripple Effects Discussed on Podcast
Plenty to talk about this week as @MrMBrown and I resume our weekly podcast. Amongst other things we'll be looking at crude oil's impact on markets which could well reverberate for some time #oilcrisis https://t.co/B6h8K0JLAj
White House Dismisses Prices, Gas Futures Keep Climbing
$UGA Daily. "You're gonna need a bigger jawbone." White House trying to talk down oil & gasoline prices. But gasoline futures ETF still stretching out higher. https://t.co/vicHCJhxQx
Airlines Face $400M March Fuel Surge, Higher Fares
"Global airlines sounded the alarm ... over soaring jet fuel prices triggered by the US-Israeli war against Iran, warning of hundreds of millions of extra costs, higher fares and cuts to some routes." Delta fuel costs up by $400mn for March...
Closing Hormuz Guarantees Outcome; Only Duration Matters
Keep Hormuz closed long enough and it is a mathematical and logistical certainty. The only debate is "How long is 'long enough' to make that happen?"
RBOB Gasoline Futures Near Last Week’s Spike High
RBOB gasoline futures $3.12 - that's very close to the spike high Sunday night last week https://t.co/x2eJ04zPio
Higher Oil Prices Trigger Demand Collapse, Recession, Fed Cuts
Actually Higher Oil Prices, cause Demand destruction that causes recession that causes Fed to cut
Oil Hitting $125 Could Reshape Global Economy
Oil prices climbing to $125 could shift the global economic outlook – Morgan Stanley’s Seth Carpenter @seekingalpha https://t.co/W6t7v236nu
Jawboning Can Crush Oil Futures, Physical Markets Needed
Oil futures having a hard time rising much in anticipation of the scarcity barreling down toward us all when—as we saw last week—jawboning can dump prices by $10 and blow folks out We'll need physical markets to drag paper barrels to...
Oil Chart Hints at Rising Inflation Pressures
$USO There's a lot going on behind the CL chart, lots of inflationary stuff we will see as the year goes on https://t.co/QQRYWzhzi2
Pakistan Faces Highest Energy Risk if Hormuz Closes
Pakistan looks like the Asian energy importer that is most at risk because of the closure of the Strait of Hormuz. More at today's Chartbook Top Links: https://t.co/7rDXmrxVqy
China‑US Summit Delayed, Soy Market Hopes Stall
🇺🇸🇨🇳Trump says they are "resetting" the meeting with China that was supposed to occur March 31-April 2. That's now been pushed 5-6 weeks out, putting it around April 21 - 28. Ag markets had been hoping the meeting would result in more...
Rising Tanker Traffic Could Shrink Brent's War‑driven Risk Premium
Great piece by @MelissaLawford in @Telegraph on tanker traffic through the Strait of Hormuz and what's going on in global markets. Brent is up 42% from before the war, a big risk premium. As oil tanker traffic picks up, this...
Brent up 42%, Now Mirrors Post‑Ukraine Invasion Levels
The Brent oil price is up 42% from before the war. This shock has spilled over into all kinds of other things, but what spot and options now markets price (blue) is basically on par with what we saw after...