Know What's Happening in Commodities
Know What's Happening in Commodities
OPEC+ agrees to modest oil quota increase amid Middle East war
OPEC+ members agreed in principle to raise oil production quotas for May by roughly 206,000 barrels per day. Saudi Arabia and Russia led the video‑conference decision as the conflict in the Middle East constrains output and shipments. Delegates said the move signals alliance cohesion despite the geopolitical shock.
Also developing:
Crude oil surged past $100 a barrel, its highest level since 2022, prompting a wave of volatility across the S&P 500. Analysts warn that higher input costs and inflation risk could weigh on large‑cap energy, industrial and consumer firms.
India’s cotton imports jumped 130% in volume and 92.5% in value in 2025, driven by a steep fall in global cotton prices. Lower import prices prompted textile manufacturers to increase purchases, seeking cost savings and higher quality raw material. Brazil...
The Australian and New Zealand dollars slipped to near‑key technical supports after Brent crude rebounded to just under $99 per barrel amid renewed Middle‑East conflict. Higher energy costs and a shift in global risk appetite are pressuring the two Southern‑Hemisphere currencies.
U.S. and Israeli strikes on Iran have driven Brent crude above $100 per barrel, triggering the sharpest macro‑economic shock in weeks. Energy‑importing economies from Kuwait to Japan face double‑digit GDP contractions, soaring import bills and heightened inflation, while Gulf diversifiers...
EPA Administrator Lee Zeldin announced a May 1‑May 20 emergency waiver permitting the sale of E15 gasoline across the United States. The move targets soaring pump prices—now near $4 per gallon—linked to the Iran war and seeks to boost domestic...
Federal Reserve Governor Michael Barr warned that the escalating Iran war could lift oil and gasoline prices, keeping inflation above the Fed’s 2% goal and delaying any further rate cuts. The comment adds a geopolitical layer to the Fed’s dual‑mandate...
The latest ranking of the world’s 20 largest gold mines shows Nevada Gold Mines retaining the top spot with 2,595 koz in 2025, while production at several sites shifted dramatically amid market volatility. Gold prices surged to a record $5,600 per...
Key pushback to a blockade is that it might spike oil prices. Iran's 2 million barrels per day could spike oil prices by 20% if they go offline, but - with Brent already up 60% from before the war -...
The renewed Iran war has disrupted urea and ammonium nitrate production, slashing exports and driving global fertilizer prices up roughly 30 percent. The price surge coincides with the critical U.S. planting window, adding $10‑$20 per acre to corn fertilizer costs....
Gold prices slipped sharply after U.S. import prices rose 1.3% month‑over‑month, reviving fears of persistent inflation and prompting Federal Reserve officials to signal further rate hikes. The move underscores growing market anxiety over the Fed’s dual mandate.
The war sparked by Iran’s confrontation with the United States and Israel has closed the Strait of Hormuz, driven Brent crude above $100 a barrel and halted key fertilizer shipments, while India grapples with an LPG shortage that threatens millions...
Chevron warned that California is on the brink of a historic fuel shortage after diesel prices surged past $7 a gallon, the highest on record. The company said it may cease refining in the state unless taxes and regulations are...
Investors are comparing the newer AAAU ETF with the market‑dominant GLD as spot gold steadies around $4,500 per ounce. Recent data show gold ETFs shed roughly 62 metric tons in March, prompting a focus on expense ratios, trading liquidity...
Iran’s decision to block the Strait of Hormuz has driven Brent crude up to $104 a barrel, a 40% jump since the war began, while roughly 2,000 vessels remain stranded. The move fuels a price surge, a de‑facto toll‑booth regime...
The U.S. Environmental Protection Agency, led by Administrator Lee Zeldin, approved a short‑term waiver permitting nationwide sales of E15 gasoline from May 1 to May 20. The move targets near‑$4‑per‑gallon pump prices that have surged amid the Iran war, while sparking debate...
The ongoing war in Iran is disrupting every node of the regional liquefied natural gas (LNG) supply chain, choking exports from Qatar and the United Arab Emirates. With Gulf output curtailed, European and Asian buyers are forced to vie for...
European households are grappling with soaring energy bills as gas prices remain high. The EU forced an 18% cut in gas consumption after Russia's invasion, surpassing its target, and experts now urge a repeat of that mandate. Alternatives such as...
Canada’s Farm Credit Canada report shows farmland values grew 9.3% in 2025, matching the prior year’s pace but hiding regional splits. A RealAgristudies survey from October 2024 found only 36% of farmers expected any price rise, with most forecasting modest...
Barclays estimates that a prolonged closure of the Strait of Hormuz would remove 13‑14 million barrels per day from global oil supply, representing roughly 13% of projected 2026 demand. The bank warns that if the disruption extends into late April, Brent...
A sharp rise in diesel to about 39 baht ($1.11) per litre—driven by the US‑Israeli war on Iran—has left more than half of Samut Sakhon’s trawlers idle and threatens to shut down Thailand’s multibillion‑dollar fishing sector within days. Thailand exports roughly...
In this episode of Plugged In, the hosts examine how the war in Iran is reverberating through Europe’s power markets, reigniting price volatility and testing the resilience of the continent’s energy transition. Julia Demedag outlines Germany’s improved but still gas‑dependent...
ConocoPhillips Chairman and CEO Ryan Lance warned that the removal of 8‑10 million barrels per day of oil and roughly 20% of global LNG capacity is creating a tight market that will push oil prices higher. He said U.S. shale output...
Saudi Arabia is accelerating crude exports from its Yanbu Red Sea terminals, aiming for a 5 MMbpd target as the Strait of Hormuz remains effectively closed by Iran. The East‑West pipeline linking Abqaiq to Yanbu can handle 7 MMbpd, but 2 MMbpd are...
"We're going to see prices at the pump go back down," says White House's Karoline Leavit Trump's prioritization of domestic oil production will to it, she says Just like Drill, Baby, Drill that never happened for the last 15 months? You don’t offset...
Pretty solid export sales #corn 47.9 mb. Needed each week to meet current USDA projections 23.2 mb. #Soybean export sales 24.6. Needed each week to meet current USDA projections 8.3 mb.
Geraldine Slattery, president of BHP’s Australian operations, warned that ongoing energy disruptions caused by geopolitical tensions are pushing nations to prioritize supply security over climate goals. The warning comes as oil prices have surged 35% and BHP faces pressure over...
BRENT SPOT SO TIGHT Dated-to-Frontline (DFL) Brent crude oil timespread is currently sitting just shy of last week's all-time high, and if we closed here we'd finish at a fresh daily ATH. Signals extreme tightness in North Sea spot crude markets amidst...
🇺🇸U.S. export sales met or exceeded expectations last week. Mexico and Colombia led in corn sales, and Germany and Mexico were the leaders in soybeans for new outright sales (China topped net sales, and those were due to a switch...
Aliko Dangote’s refinery has lifted its ex‑depot gasoline price to N1,285 per litre – its fifth hike in March – as the U.S.–Israel war on Iran pushes crude to $120 a barrel. The move deepens Dangote’s downstream foothold while sparking...
Gold at $4,560. Real yields still elevated. Gold is supposed to fall when real yields rise. It's not falling. That's not a hedge. That's a warning. $GLD $TLT $SPY https://t.co/eAdLleClyB
March 2027 RBOB gasoline futures $2.21, implying $3.15 at the pump by the winter https://t.co/TkEv0pc6Zf
S&P Global’s flash Purchasing Managers’ Index surveys for March 2026 show business activity edging closer to stagnation worldwide, with the eurozone slipping to 50.5 and the UK composite at 51.0. At the same time, input‑cost inflation jumped as Brent crude...
Using premarket marks, this is Crude (USO) vs VIX. You can see the AM VIX move is high relative to the move in oil (red dot). Black dots are last 5 days. https://t.co/ZgBEOTzNOF
Taiwan spent an extra $600 million to secure LNG through June to replace lost Qatari supply 🇹🇼 💰 Taiwan’s Economic Minister said spot LNG prices are “about twice as high as long-term contract prices with Qatar” The island depends more on gas...
Goldman Sachs increased its estimate of a U.S. recession this year to a 30% probability, up from 25% a week earlier. The revision reflects tighter labor markets, higher oil prices and diminishing fiscal and monetary headroom. Competing forecasts from peers...
ONE thing President @edmnangagwa understood very early in his presidency is that SUBSIDIES create ARTIFICIAL SHORTAGES. Countries with fuel subsidies are already experiencing MASSIVE SHORTAGES… https://t.co/bpI2xgOqg6
The FAT TAIL for the Persian Gulf crisis Prolonged energy disruption & economic dislocation THRU 2027, says @ProfessorKaren That assumes the conflict is resolved in April or May
Iron ore prices have plunged as the market reacts to ongoing geopolitical conflicts rather than fundamentals of the metal itself. Rising input costs—particularly energy and logistics—are squeezing steel producers, prompting a sharp slowdown in production. This combination has turned the...
Oil production in Iraq down again because storage tanks are filling up and the country can't export. https://t.co/tyEDWv8Trb
Even if a “deal” happens tomorrow, the damage doesn’t reset Kuwait Petroleum says full production recovery takes 3–4 months A ceasefire is just the start of a long, uneven rebuild #Oil #Kuwait #Hormuz #EnergyCrisis #SupplyShock #Geopolitics #OOTT #Markets
The Democratic Republic of the Congo’s weekly mineral price bulletin for March 23‑28 2026 shows a broad slide in several key exports, with copper falling to $12,718 per tonne and gold dropping to $164 per kilogram. Zinc, tin, silver and nickel also...
Intro econ for NYT reporters, oil was priced in yen it would be going up more in percentage terms in yen than it is going up in percentage terms in dollars. The unit is just a convention https://t.co/zCOwmbyJQv
Gasoline is telling you what this war really means. Up $1.00 a gallon in just 25 days. It's the first wave of the coming tsunami of inflation #GasPrices #Oil #Inflation #EnergyCrisis #Iran #Hormuz #Economy #Geopolitics #War #OOTT
Indonesia is seeing a surge in coal and crude palm oil (CPO) prices as the US‑Israeli war on Iran pushes oil to about $100 a barrel, prompting countries to seek cheaper coal and bio‑fuel alternatives. Newcastle coal futures have climbed...
Russia stopped exports of ammonium nitrate through April to ensure domestic supply during planting season. Russia controls a massive portion of global trade in ammonium nitrate at about 40%. IT LOOKS LIKE MOSCOW IS SAYING SANCTIONS WILL HAVE TO GIVE OR FERTILIZER...
Good morning, We are in Day 26 of the war and Asia is reeling from the conflict as we are most dependent on Middle oil and gas. Let's talk about how Asia is affected by this conflict, a thread. You can...
The U.S.-led war in Iran has sent oil prices soaring, pushing gasoline costs for a heavy‑duty pickup in Houston from about $70 to $90 per tank. Phrostibe Italian Ice, a family‑run mobile vendor, is feeling the squeeze, redesigning delivery routes,...
US officials are examining what a potential spike in oil prices as high as $200 a barrel would mean for the economy, sources tell @hlowenkron @SalehaMohsin and me, a sign of studying possible fallout from extreme scenarios for the #Iran...
Gas shortfall fears pushed out again as grid battery boom and electrification take fresh bite from demand #energysky -- via Renew Economy: https://t.co/SIHv5tanVT https://t.co/F4npGu5RMq
Will U.S. diesel and jet fuel inventories decline to historic lows? US Weekly Oil Data: US Inventories, Exports, Imports, and Refinery Utilization (12 Charts). Link: https://t.co/9fNzVH20GN
