Today's Commodities Pulse
Oil Premiums Collapse as US‑Iran Deal Sparks Relief
Spot premiums for crude and refined products across Asia, Europe and Africa fell sharply after the announcement of a preliminary U.S.–Iran agreement. Dubai’s premium to swaps slid to $2.06 a barrel, near pre‑war levels, while Angolan crude now trades at a $2.20 discount to Brent. Asian naphtha entered contango, with margins plunging about 90%.
Money and Me: When Gold Breaks, AI Bites Back, and Japan Shakes the World
In this episode, host Michelle Martin and guest Simon Ree, founder of Tao of Trading, dissect a volatile market landscape where gold and silver have sharply retreated after a steep rally, and Microsoft’s stock fell despite strong earnings, raising concerns about its OpenAI partnership. They also examine Japan’s bond yields soaring to multi‑decade highs, sparking fears of a yen carry‑trade unwind. Ree highlights the interplay of politics, monetary policy, and tech risk, offering traders actionable insights across metals, technology equities, and currency markets.
Interview with Jesse Day of Commodity Culture
In this episode, host Alasdair Macleod and guest Jesse Day of Commodity Culture explore the theory that China is amassing silver to eventually back the yuan with a silver standard, a move that could accelerate the dollar’s decline. They discuss...
No Glut in Sight: Why Oil Bears Remain Mistaken—Despite OPEC+ V8 Easing the Taps in April
The episode explains that recent oil price gains are driven primarily by sharp production cuts in the United States and Mexico caused by an unusually harsh winter, rather than by OPEC+ policy changes. Geopolitical tension, including rumors of a possible...
Silver Suffers Steepest One‑day Drop Since 1921
January 30, 2026 . . . . Worst one day % drop in silver prices since 1921.
Inventories Before and During the Storm: A Reliable Predictor of… Nothing
The episode examines U.S. oil inventory data, highlighting that the Strategic Petroleum Reserve (SPR) has accumulated more barrels since early 2025 than the increase in domestic crude production. This discrepancy undermines claims of a true global oil surplus, as much...
Pro Farmer Podcast | A Winter Wonderland
On the January 26, 2026 episode of the Pro Farmer Podcast, hosts Davis and Hillari examined how unusually frigid temperatures could jeopardize the upcoming winter wheat crop. They highlighted potential germination delays, reduced tiller development, and heightened disease pressure. Editor Bill Watts...
Iraq’s January Oil Exports Surge: A Short Explanation.
The episode examines recent Kpler data showing Iraq’s seaborne crude oil exports jumping to an average of 3.457 million barrels per day in January, a rise of roughly 208 kb/d from December. It notes that pipeline shipments to Turkey have stayed steady...
Gasoline Inventories Rise to Highest Level Since 2020
The episode examines the recent surge in U.S. gasoline inventories, which have climbed to their highest level since 2020, and explores the factors driving this buildup, including weaker demand, refinery outages, and seasonal storage patterns. Analysts discuss how the inventory...
Assisted Thinking
The episode “Assisted Thinking” dissects the stark contrast between China’s massive reliance on coal—accounting for 58% of its primary energy in 2024—and the Western media narrative that paints Beijing as a climate leader. By examining data from the Statistical Review...
Annual Review of EU’s Gas Market in 2025 and the Outlook for 2026
The episode reviews the EU gas market in 2025, noting a modest 1.2% demand rebound after two years of decline and a sharp increase in LNG imports that offset a 15 bcm loss of Russian pipeline gas following the end of...
Are the Attacks on Kazakhstan’s Petroleum Sector Potentially Linked to Retaliation Against Trump’s Venezuela Strategy?
In this episode, A.F. Alhajji examines a sudden decline in OPEC+ oil output, focusing on recent attacks on Kazakhstan’s petroleum infrastructure and their possible connection to U.S. policy toward Venezuela under former President Trump. He argues that the disruptions may...
Monday: Silver Slides as Iran Tensions Ease
In this brief episode, ANZ’s research analysts discuss the recent decline in silver prices, attributing the slide to easing geopolitical tensions with Iran. They note that reduced risk premiums are dampening demand for safe‑haven assets, while broader market dynamics and...
Weekly Indicators for January 12 - 16 at Seeking Alpha
Seeking Alpha’s weekly indicators for Jan 12‑16 highlight a normalizing yield curve and mortgage rates at three‑year lows, which are reviving the housing market. At the same time, gasoline prices have slipped to their lowest level in almost five years, creating...
Counterparty Risk in Silver Exposed
The episode examines the recent price dynamics of precious metals, noting gold's steady rise to $4,606 and silver's rapid surge to $90.75, driven by heightened open interest on the COMEX. It highlights the emerging counterparty risk in the silver market,...
Friday: Oil Down 4.9% as Iran Tensions Ease
In this brief episode, ANZ Research analysts discuss the recent 4.9% drop in oil prices, attributing the decline primarily to easing geopolitical tensions with Iran. They explain how reduced risk of supply disruptions has softened market sentiment and led to...
The Gasoline Build Paradox: Weather and Shale Vs. Economic Growth?
The episode explores the paradox of rising gasoline consumption despite advances in shale production and the influence of weather patterns on fuel demand. It examines how economic growth, seasonal temperature shifts, and the resilience of the oil market interact to...
Heat Pumps That Pay: How Industrial Process Heat Is Becoming a Cost-Saving Asset
Industrial heat, the world’s largest energy end‑use, is now a balance‑sheet issue as manufacturers grapple with volatile fuel prices and rising carbon costs. A new generation of high‑temperature heat pumps can deliver up to ~200 °C, turning waste heat and low‑grade...
Kazakhstan, Venezuela, and Iran: Key Wildcards Driving Oil Price Volatility
The episode examines three emerging wildcards that could destabilize oil markets: a sharp decline in Kazakhstan’s crude exports due to Ukrainian drone attacks and weather‑related production cuts, political and operational uncertainties in Venezuela, and renewed sanctions and geopolitical tension surrounding...
Powell’s Fed Up
The episode reviews Jerome Powell’s remarks that a potential criminal indictment against him must be viewed against the backdrop of broader political pressures from the administration. It also analyzes December’s U.S. jobs data, which showed a slowdown in hiring while...
Annual Review of the Global LNG Market in 2025 and Outlook for 2026
The 2025 global LNG market was driven by strong European demand as the region reduced reliance on Russian pipeline gas and rapid import growth in the MENA region, especially Egypt, while Asian demand, notably China, softened due to higher domestic...