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
Traders Go for Burundi and Rwanda Tea over Kenyan Levy
Kenya introduced a 0.8% export levy on home‑grown tea on May 1, 2026, raising the cost of Kenyan tea at the Mombasa auction. The levy, collected upfront by the Kenya Revenue Authority, has prompted traders to favor Rwandan and Burundian teas, with major buyers such as Pakistan protesting. Kenya Tea Development Agency (KTDA) has already paid about Sh 450,000 (≈ $3,000) in the first week, a cost that will likely be passed to smallholder farmers. The government says levy proceeds will fund farmer income stabilization, research and infrastructure, but the immediate market shift threatens Kenya’s export volumes.
India's Goldilocks Growth Model Tested by Oil Shock and Rising Inflation
India’s “Goldilocks” growth scenario—strong GDP, moderate inflation and stable finances—is under pressure as crude oil prices have surged about 40% and inflation expectations have been lifted to 5.1%. Analysts say markets have already priced the shock, but the outcome will...
China's Trade Grows 14% YoY, Boosting Global Commodity Demand
China's foreign trade expanded 14.2% year‑on‑year in April, reaching 4.38 trillion yuan ($639 bn). Exports jumped 9.8% while imports surged 20.6%, driven by higher purchases of crude oil, iron ore and soybeans, underscoring robust commodity demand.
Introducing the ‘NACHO’ Trade: How Wall Street Is Betting on Higher Oil Prices and Persistent Inflation
Wall Street has coined “NACHO” (Not a Chance Hormuz Opens) to describe a trade that profits from higher oil prices and lingering inflation. The strategy pairs long exposure to oil‑linked assets with short positions in short‑term Treasuries, betting that the...
Gas Prices Stay Above $4.50, Diesel Near Records
Heading into the peak U.S. driving season, the latest AAA data show regular gas (petrol) prices holding above $4.50 a gallon and diesel prices near record highs. #economy #markets #gas
Jet Fuel Exports Hit 10‑Year Low, Europe Looks to U.S. Supply
Global seaborne jet fuel exports dropped to a ten‑year seasonal low of 1.1 million barrels per day in April, a 630,000 bpd decline from a year earlier. With Middle‑East shipments stalled and prices for Jet A‑1 up 50%, European airlines are evaluating...
Rare Metals Race Fuels New Capitalism in Emerging-Market Supply Chains
Zambia’s copper exports, worth $7‑10 billion annually, and China’s aggressive undersea mineral program are intensifying a global fight for rare metals. The competition is reshaping supply chains in Africa and beyond, forcing emerging markets to confront new geopolitical and environmental pressures.
China's Crude Imports Fall 20% as Hormuz Shipments Stall, Gas Down 13%
China’s April crude oil imports slipped 20% year‑on‑year to 38.47 million tons and natural‑gas imports fell 13% to 8.42 million tons as shipments through the Strait of Hormuz stalled. The decline follows a series of U.S. strikes on Iranian‑flagged tankers and Tehran’s...
Brent Crude Slides to $70 a Barrel as Hormuz Tension Extends, Fitch Warns of Prolonged Disruption
Brent crude fell to $70 a barrel, the lowest level since early 2024, as Fitch Ratings warned that the Strait of Hormuz disruption could last longer than initially expected. The price slide follows a recent peak of $126 per barrel...
Buy Short‑Dated Refined‑Product Futures Amid Tight Global Oil Stocks
GS: global oil stocks at ~98 DoD; rapid depletion, regional concentration and naphtha/LPG/jet shortages risk local fuel runs. Trade: buy short-dated refined-product futures. — Viktor Kopylov, PhD, CFA. More insights: t.me/si14Kopylov
CPC to Leave Gasoline, Diesel Prices Unchanged for Next Week
State‑run oil supplier CPC Corp. announced a price freeze for Taiwan’s gasoline and diesel for the week of May 12‑17, keeping retail rates at NT$32.4, NT$33.9 and NT$35.9 per liter for 92‑, 95‑ and 98‑octane gasoline and NT$31.0 for premium diesel....
Excited About Gold But Unsure of Its Trajectory? Try These 3 Approaches
Gold’s price has swung dramatically this year, hitting all‑time highs before retreating amid geopolitical tension and policy uncertainty. By early May the metal rebounded, climbing roughly 2% in a week and posting a 9% year‑to‑date gain. The article highlights three...
Taiwan’s Plastic Habit Collides With Shortages Caused by a Faraway War
Taiwan’s plastic sector is scrambling for feedstock after the Iran war disrupted petrochemical shipments from the Persian Gulf. Formosa Petrochemical, the island’s largest producer, imports two‑thirds of its naphtha from the Middle East, but tankers stopped arriving in early March,...
New Wind‑Storage Beats Fossil Costs, Proving Bankruptcy
In the UK, Germany, and Spain, building brand-new wind + storage is cheaper than simply paying for the fuel and maintenance of existing fossil plants >Storage costs fell 93% since 2010 >New gas generation is now >$100/MWh >Firm wind + storage in Germany...
Boosted Precious
#GLD, #GLDM no update #IAU +4koz #gold #SIVR +713koz #silver #PPLT +100k units, #PALL bought 1.1koz #palladium #SCPO +38k units, no #copper bought
Oil Ticks Higher as Gulf Clashes Threaten to Derail Ceasefire
Oil prices edged higher on May 9 as Brent crude rose 1.2% to about $101 a barrel, even though the benchmark posted a 6% weekly decline. The move reflects trader anxiety that fresh clashes between the United States and Iran...
Baltic Dry Index Climbs to 2,991, Highest in Two Years on Capesize Surge
The Baltic Dry Index jumped 5.6% to 2,991 points on Wednesday, its highest level since December 2023. The surge reflects a sharp uptick in demand for Capesize vessels and a tightening global fleet, putting pressure on the cost of moving...
Fuel Shortage Spikes Texas Gas Prices, Looming Downturn
25% of the fuel that has kept prices here in the US artificially lower is now vanished from the market...gas has jumped .20 a week here in Texas since the war started. Its bout to ve a rough fall
Oil Expected to Decline as Iran Conflict Likely Subsides
$USOIL - Given that it's highly unlikely that the war in Iran will resume crude oil should generally move lower over the coming weeks, with occasional bounces whenever there's news about an escalation of the situation like the ones we...
DRC Miners Shift to Copper as Cobalt Prices Crash, Glencore Leads Pivot
Major mining firms in the Democratic Republic of Congo, spearheaded by Glencere, are slashing cobalt output and expanding copper production after cobalt prices fell to a nine‑year low. The shift aligns with soaring copper demand from AI data centers, electrification...
US Refineries Ramp Up Ahead of Summer Driving Surge
Summer driving season approaching - U.S. refineries have the pedal to the metal right now - triggering stress points.
Copper's Record Highs Yet Cheap vs Gold—Brief Rally Likely
It’s wild to see copper hitting record highs while still trading near historical lows when priced in gold terms. The copper-to-gold ratio remains nearly 80% below its 2006 peak. More importantly: Periods where copper became this cheap relative to gold have historically not...
Corn Futures Slip to Three‑Week Low as Oil Prices Fall and Planting Accelerates
Corn futures dropped about $4.5 per bushel to a three‑week low on May 7, 2026, as falling oil prices eroded biofuel demand and U.S. planting reached 38%—ahead of the five‑year average. The twin pressures of weaker demand and stronger supply...
China's April Crude Imports Plunge Below 2019 Levels
Big drop in crude import volumes out of China in April Imports dipped below 2019 levels Clearly helped stabilize the global market (gas imports also down) https://t.co/XJmsiZkLkp
Investors See Middle East Conflict De‑escalating Amid Ceasefire Violations
Week Ahead: Trump-Xi and US-China CPI: There were several developments to note last week, but arguably the most important was that investors are optimistic that the Middle East war is winding down despite some violations of the ceasefire. June WTI...
Cotton Rallies Back on Friday
Cotton futures closed Friday up 177 points, with the July contract gaining 54 points for the week. Managed money added 12,829 contracts, pushing its net long to 51,184 contracts—the highest level since April 2024. USDA export sales commitments sit 1%...
Fertilizer Shortage Spikes Potato Prices, Makes $136k Spenders Millionaires
FACT: If you spent $136,000 on potatoes last month, you'd be a millionaire right now. Potato prices have skyrocketed from €2.5 to €18.5 per 100 kg because fertiliser supplies are drying up after the Strait of Hormuz was closed. https://t.co/vyaLL0pKgh
Markets View Iran War as Ongoing Demand Drag
WTI fell 6% this week and 12-month spreads fell 25%. Markets now see the Iran war as a persistent drag, not an imminent systemic collapse They increasingly expect demand destruction, not growth, to rebalance the market. #WTI #OilMarkets #Backwardation #DemandDestruction #EnergyCrisis #Brent...
Corn Bulls Bounce Back Into Friday’s Close
Corn futures edged higher on Friday, with the near‑month contract gaining about 3.5 cents to close at $4.56 per bushel and the July contract up 3.75 cents to $4.71. The broader cash corn index rose 3.75 cents to $4.3075 per...
China’s Refined Fuel Exports Hit Decade Low Despite HK Exemption
China's exports of diesel, gasoline, jet fuel other refined fuels fell to the lowest level in a ~decade in April thanks to the export ban. That probably understates the contraction because the trade figures include HK, which is exempted from...
China’s Refineries Cut Throughput, Using Underground Storage
Why aren’t China’s onshore crude inventories collapsing? Because Chinese refineries have throttled back crude throughput, says @HFI_Research They’re drawing refined product inventories and crude from UNDERGROUND storage. The system is rebalancing flows, not operating normally. #China #OilMarkets #EnergyCrisis #Refining #CrudeOil #OilStorage #Macro...
Soybeans Recover Higher on Friday
Soybean futures rebounded on Friday, gaining 10 to 17¼ cents and closing near $11.40 per bushel, while July contracts rose 4¾ cents for the week. Managed money increased its net long position by 36,335 contracts, reaching 221,617, and speculators extended record net...
Energy Prices Surge Over 50% Since New Year
JUST IN: Since January 1, 2026, prices have increased for gasoline by 103%, heating oil by 84%, Brent crude oil by 66%, crude oil by 66%, European gas by 56%, and coal by 23%.
Wheat Bounce Higher Into the Weekend
U.S. wheat futures rallied on Friday, with CBOT, Kansas HRW and Minneapolis contracts gaining between 5¾ and 11¼ cents. CFTC data showed managed money shifting to a net short of 9,903 contracts in CBOT wheat, while speculators added 7,245 contracts...
Albemarle (ALB) Gets Truist Price Target Boost on Lithium Price Momentum
Truist Securities raised its price target for Albemarle Corp. (ALB) to $245, up from $210, while keeping a Buy rating. The increase reflects revised earnings forecasts for 2026 and 2027, driven by sustained lithium price momentum into early 2026. Analyst...
Gold Has Climbed Back Above a Key Trend Line. Are More Gains on the Way?
Gold futures surged above the 21‑day moving average on May 8, signaling a potential rebound after a prolonged pullback since the January record high. The same contracts also retested the 50‑day moving average for a second day, a key medium‑term trend...
Gas and LNG Markets, May 8, 2026
The May 8 Energy Intelligence roundup highlights a surge in U.S. gas demand as summer travel and AI‑driven data centers push prices to post‑2022 highs. A landmark $66.8 billion Dominion‑NextEra merger signals utility consolidation aimed at capitalising on that demand. Meanwhile, supply...
Mideast Disruption Hits 1 Billion Barrel Milestone
Energy Intelligence estimates that the ongoing war in the Middle East has removed roughly one billion barrels of crude oil, petroleum products and other liquids from global markets, based on shipping data analysis. The disruption reflects a combination of port...
Delayed Publication of Fastmarkets’ North American Ferrous Scrap Prices for May
Fastmarkets, which normally publishes North American ferrous scrap prices by the 10th of each month, announced a delay for the May data set. The postponement stems from ongoing negotiations between buyers and sellers and the fact that the 10th falls...
Market View: Elevated Storage Levels Keep Lid on US Gas Futures
US natural gas futures rose to a three‑week peak on May 4, driven by signs of market tightening. However, abundant gas inventories kept the June NYMEX contract from breaking the $2.80 per MMBtu resistance level. Storage volumes remain well above the...
Market Watch: June Nymex Sinks Amid LNG Plant Maintenance
June Nymex natural‑gas futures slipped 1.2 cents to $2.757 per million Btu as demand softened. The Energy Information Administration reported a 7% weekly drop in LNG feed‑gas consumption, driven by maintenance at Corpus Christi, Cameron LNG and Calcasieu Pass. Meanwhile,...
Natural Gas Spot Prices, May 8, 2026
The request contains no actual article content—only navigation elements, share links, and a login prompt—so there is no information to summarize about natural gas spot prices on May 8, 2026.
Cattle Futures Finish the Week Lower
Cattle futures on the Chicago Mercantile Exchange slipped this week, with June live cattle down $1.15 to $248.90 and August feeder cattle falling $2.42 to $362.22. The decline was fueled by technical selling and a stronger corn market that raised...
Fertilizer Prices Surge as Hormuz Crisis Triggers EU Subsidy Plan
Global fertilizer prices have jumped after the near‑closure of the Strait of Hormuz disrupted ammonia, urea, sulfur and phosphate flows. The European Commission responded with emergency aid covering up to 70% of extra fuel and fertilizer costs, allowing farmers to...
Copper Hits Record, Enters New Price‑Discovery Regime
Copper officially closed at record weekly prices today. This increasingly looks like the beginning of a true price-discovery phase for the metal. It reminds me of gold once it finally cleared the $2,000/oz level and the market began adjusting to a completely...
Egg Prices Hit Record Low Near One Dollar
Eggs approaching $0 Down to 17 cents per dozen wholesale ($0.99/dozen at the store by me)... easily a record low, adjusted for wages https://t.co/nNvmz5OSuZ
Cenovus Warns Oil Sands Growth Is Drying Up as Policy Uncertainty Mounts
Cenovus Energy posted a record Q1 2026 with net earnings of C$1.57 billion (≈$1.2 billion USD), a 19% rise in upstream output to 972,100 BOE/d, and a 10% dividend increase. CEO Jon McKenzie warned that Canada’s unresolved carbon‑pricing talks and a unique industrial carbon tax...
Daily Energy Report
Global gasoline exports have plunged after the Strait of Hormuz was shut, eliminating roughly 120,000 barrels per day that previously flowed through the chokepoint. The abrupt loss sparked localized shortages and nudged retail prices higher, although the overall gasoline market...
Copper Near Record Highs. Market Fears Supply Constraints and Bets on Str...
Copper futures on the COMEX rose above $6.29 per pound, edging close to the record set in late January. The rally is fueled by expectations of sustained demand from AI data centers, power‑grid modernization and electric‑vehicle production, while supply worries...
Natural Gas Bulls Look to LNG Risks for Support as Shoulder Season Drags On
Natural gas spot prices were largely flat on Saturday‑Monday delivery, except in West Texas where they plunged amid robust production and weaker LNG demand. Maintenance outages at key LNG facilities and milder shoulder‑season weather further dampened demand. June NYMEX futures...