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
Japan to Receive Russian Crude as Hormuz Disruption Spikes Oil Logistics
A tanker carrying Russian crude is scheduled to dock in Japan tomorrow, marking the country's first post‑Hormuz import of Russian oil. The move comes as the Strait of Hormuz remains disrupted by the Iran‑U.S. standoff, pushing global oil prices above $120 a barrel and reshaping supply‑chain routes.
Middle East War Triggers 24% Energy Price Surge, Sparking Vietnam Inflation and World Bank Alarm
The war in the Middle East has pushed global energy prices up 24% this year, the steepest rise since Russia’s 2022 invasion of Ukraine. The surge is feeding higher transport costs in Vietnam, accelerating its inflation, while the World Bank...
Gulf Diplomatic Proposals Stabilize Oil, Boost Asian Stocks by 3% on May 4
Asian equity markets rose roughly 3% on May 4 after Gulf diplomatic proposals eased oil‑price volatility. Brent crude steadied at $108.36 per barrel, and MSCI's broadest Asia‑Pacific index outperformed, led by a 4.6% jump in South Korean tech shares.
DR. NOMI PRINS | The Silver Squeeze Just Got Real!
Silver prices have fallen about 35% from their January peak, yet physical market tightness is intensifying. China set an eight‑year high by importing roughly 790 tons of silver (≈$610 million) in January‑February, while simultaneously tightening export licences for refined metal. The Silver...
Over A Barrel? Middle East Energy Crisis' Next Phase
The Iran crisis has tightened oil and gas supplies, pushing Brent to $114 a barrel and WTI to $105. Asia and Europe are bearing the brunt of the shortage, while U.S. crude and refined product exports have surged to record...
Daily Energy Report
Oil prices surged on May 4 as Iran intensified drone and missile attacks on UAE infrastructure and shipping in the Strait of Hormuz, pushing Brent crude to about $115 a barrel and WTI to $106. The United States responded with...
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Just 11 States Still Have Gas Below $4 as Prices Keep Rising—See Your State Average
Gasoline prices surged to a national average of $4.46 per gallon, the highest level since July 2022, as the Iran conflict pushes crude oil higher. After a brief two‑week dip, the market has added 44 cents since April 22, lifting the price...
Consus Ag Consulting Afternoon Wrap Up
Futures opened the week choppy as grains slipped lower while the soy complex posted gains. A more favorable U.S. weather outlook and stronger foreign export flows pressured wheat, especially after India lifted its export restrictions. Feed‑corn sales provided modest support,...
WTI Crude Rises More than $4 and the Bond Market Is Noticing
WTI crude futures jumped more than $4, with June contracts closing at $106.42 and December contracts climbing to $83.67, a new March‑23 high. The rally follows Iran's attack on UAE oil infrastructure, heightening supply concerns in the Gulf. At the...
Spot Natural Gas Prices Gaining as Weather Demand Builds
Natural gas spot prices edged higher on Monday, with the NGI Spot Gas National Average climbing 3 cents to $1.545 per MMBtu. The rally was driven by cooling weather forecasts that are expected to lift heating demand across the Northeast and...
Guyana President: Energy Supply-Demand Gap Widens Further
Guyana President Irfaan Ali warned that the global energy supply‑demand gap is widening as the Iran‑Israel conflict pushes oil prices above $100 a barrel and disrupts key chokepoints like the Strait of Hormuz. The war has strained infrastructure and forced nations...
Another Solid Week for Corn Export Inspections
U.S. corn export inspections surged to 2.03 million tons for the week ending April 30, up 411,136 tons from a year earlier, pushing season‑long totals to 55.48 million tons—well ahead of the 2024/25 pace. Wheat inspections also climbed, reaching 434,204 tons and a year‑to‑date...
Fresh From the Trading Room: Certainly Uncertain
Inspirante Trading Solutions warns that WTI crude oil has rebounded above $107 and is eyeing the $110 threshold, a level that historically precedes equity market stress. Brent surged 7.6% to $119 after President Trump signaled a prolonged U.S. naval blockade...
Cash Dairy Prices Steady-to-Lower Monday
Cash dairy prices on the Chicago Mercantile Exchange were largely flat to lower on Monday. Dry whey slipped to $0.6950 per pound, while 40‑pound cheese blocks fell to $1.6325. Butter decreased $0.04 to $1.5550, and nonfat dry milk held steady...
Russia's Oil Revenues Jump as U.S. Waiver Boosts Asian Sales and New Syrian, Japanese Shipments
Russia's oil earnings have surged after the U.S. Treasury extended a limited sanctions exemption, allowing Asian buyers to increase imports. Record shipments to India, China, Syria and a new cargo to Japan are driving the rebound despite Western sanctions.
Trump's 'Project Freedom' Aims to Reopen Hormuz, Oil Prices Remain Flat
President Donald Trump unveiled 'Project Freedom', a plan to shepherd commercial vessels out of the Persian Gulf and through the Strait of Hormuz. The announcement triggered a short‑lived dip in oil prices, but Brent and WTI settled unchanged as markets...
US Consumer Resilience Overestimated Amid Rising Energy, Services Costs
"Increase in the retail prices of gasoline, diesel, jet fuel and naphtha between February 27 and April 27: it is “somewhat counterintuitive” that the US is now experiencing some of the largest price increases globally, and might indicate that it...
Bassett Miscalculates: US Shale Peaked, Oversupply Looms
Bassett’s math doesn’t add up on several fronts: U.S. shale oil production has peaked for now, the increase in U.S. crude deliveries is the result of large withdrawals from the U.S. SPR, and the announced increase in the OPEC+ group...
War-Driven Energy Shock Makes Case for More Alternative Fuels
Bunker fuel prices have surged 70% since the Middle East conflict, with very low sulfur fuel oil climbing to over $930 per metric ton. The International Maritime Organization’s Marine Environment Protection Committee concluded its latest session on a Net‑Zero Framework...
Cotton Yarn Rise to ₹300/Kg Squeezes Gujarat’s Textile Value Chain
Cotton yarn prices in Gujarat have surged to a four‑year high of ₹300 per kg (about $3.60), driven by strong demand from China and Bangladesh. Fabric costs have risen ₹10‑₹25 per metre, and several powerloom units have shut down, tightening supply across...
Cotton Prices Rise by 4% in Single Day in India
The Cotton Corporation of India (CCI) lifted the price of a 356‑kg candy by ₹2,900 (about $35), a 4% jump and the steepest single‑day rise this season. The new level of roughly ₹65,600 ($791) per candy puts Indian cotton at...
US Butane Exports Hit All-Time High in April: Kpler
U.S. butane exports surged to an all‑time high of 689,000 barrels per day (1.9 million tonnes) in April, driven by Asian buyers replacing Middle‑East output lost to the Strait of Hormuz blockade. India led the demand, taking 247,000 tonnes, while Morocco,...
Treasury Blockade on Iran Pushes Brent Crude Over $120, Saps U.S. Market Gains
U.S. Treasury Secretary Scott Bessent announced an expanded economic blockade on Iran, a move that lifted Brent crude to roughly $120 per barrel. The surge in oil prices weighed on U.S. energy stocks and pulled broader market sentiment lower, underscoring...
Qatar Extends Force Majeure on LNG Supply Through Mid-June
QatarEnergy has extended the force majeure on its LNG deliveries until mid‑June because the Strait of Hormuz remains almost entirely closed to tanker traffic. The suspension follows earlier force majeure notices issued after the Iran‑Israel conflict escalated in February and...
Current Price of Oil as of May 4, 2026
Oil prices rose to $115.01 per barrel for Brent crude on May 4, 2026, a $3.81 increase from the previous day and roughly a 92% jump from a year ago. The gain follows a month‑over‑month rise and reflects ongoing supply‑demand dynamics...
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PUMP PAIN: SA Petrol Price to Surge 14% to Almost Record High on Wednesday
South Africa will see petrol prices jump 14% on 6 May, with the pump price rising R3.27 per litre (about $0.17) to R26.52/L (~$1.40). Diesel will increase R6.19/L (~$0.33) to R32.09/L (~$1.69), reflecting a Brent crude surge to $101 a barrel....
Can Canadian Energy Turn an “Unprecedented” Oil Crisis Into an Opportunity?
Oil prices could surge to $150 a barrel as the Strait of Hormuz remains effectively shut, stripping roughly 650 million barrels from global supply and pushing inventories toward historic lows. Brent briefly topped $126 per barrel and U.S. crude hovered near...
Crude Futures Rise on Reported US Vessel Attack: Update
Front‑month Brent futures surged more than $5 a barrel, hitting $114.30 after unverified reports that a U.S. Navy frigate was struck by missiles near Iran’s Jask island in the Strait of Hormuz. The price jump represented a 5.7% rise from...
Factory Sector Purchasing Manager Surveys Upstaged By Fresh Tensions in the Strait of Hormuz
World oil prices jumped at the start of the tenth week of the Middle East conflict after Iran reportedly fired on U.S. escort vessels in the Strait of Hormuz. WTI crude rose to about $105.55 a barrel (+3.6%) and Brent...
OPEC Report Shows Oil Demand Reached Over 105MMBpd in 2025
OPEC’s Annual Statistical Bulletin projects world oil demand to reach 105.15 million barrels per day in 2025, a 1.30 million‑barrel increase from 2024. Global crude production is expected to rise to 74.85 million barrels per day, driven by higher output from OPEC members...
German Fuel Demand Drops Ahead of Tax Cut
German diesel and gasoline spot volumes dropped sharply in the week ending 1 May as the two‑month energy tax cut took effect. The government lowered the fuel levy by €14.04 per 100 l (about $15.30), translating to roughly 17 ¢ per litre for...
Soybean Net-Longs Triple Corn, Heightening Liquidation Risk
Following the Money, Soybeans Lead Risk vs. Reward Speculator net-longs in soybeans dwarf those in corn and wheat, indicating an epicenter for position liquidation risks in grains. The dollar value of hedge fund net-longs in soybean complex futures is about 3x...
Wheat Futures Hit 2‑Year High on Record Speculator Net‑Long
Bouncing Wheat, Long Specs and Reversion Risks The benchmark wheat future has risen to its highest price in about two years on the back of grain speculators being the most net-long in four years -- and it's the time of year...
High Volatility Renders Short-Term
4 hour across gasoline, $CL_F , brent and the 2 year yield. Again most either bought late, faded early or just are using chart time frames that won't help much when vol is this high for this long. https://t.co/Ie8cBLcCWt
Oil Futures Hit New Highs, Expect $90+ Prices
What does the oil market think? Both the July (orange) and December (blue) Brent Crude Oil Futures Contracts are at new highs. The December contract is now signaling that the market expects crude oil to be above $90 for the next seven...
Hormuz Blockade Accelerates Critical Mineral Demand Surge
🚨 Strait of Hormuz Blockade = Potential Boom for Critical Minerals Iran's closure has slashed ~20% of global oil & LNG flows. Governments are accelerating the shift to renewables + EVs faster than planned.Demand was already projected to surge…the crisis...
USDA, DOJ Crack Down on Meatpackers, Prices Fall
USDA and DOJ hold a presser to declare they are holding meatpackers accountable. They brought down both live cattle and feeder prices.
Data Centers Spike Northeast Carbon Prices Above California
Data centers are driving a surge in carbon prices in the US Northeast, helping push CO2 costs in the region past California and raising the prospect of higher energy prices for consumers. https://t.co/sNPWSP51NO
Corn Rallies as Ag Commodities Chase Energy Price Levels
There goes corn today. Another strong move in agricultural commodities as they continue catching up to energy prices. https://t.co/9xrvHbXgUm https://t.co/v2CK1VmaKr
Iran's War Funding Erodes as Oil Blockade Delays
Yes, energy prices will continue to rise. But if Iran isn't able to get oil to customers then it's ability to wage war is being drained with every day and every drone launched. The blockade should have been in place in...
Oil Markets Tumble Early with Unexpected TACO Move
gee, I didn't think the TACOing in the oil markets down would happen this early in the trading day
Gold Slides Below Weekly Low, Eyes 200‑Day MA
$Gold has broken last week's low. As I posted previously, the minimal target remains the 200 day MA that is currently at 4283. If it closes below the 200 DMA we'll see a retest of the March low at 4100....
Brent Hits $114 Amid US‑Iran Tensions, Inflation Looming
https://t.co/Tigb4k2zAJ Brent crude at $114 now and no end to the U.S.-Iran conflict. Can’t wait for the next inflation readings….And economic data,
Brent Oil Volatility Spikes with Every War Headline
July Brent Crude Oil gyrations over the last 24 hours on every War headline. https://t.co/NguXR9zWen
Middle East Incidents Lift Oil to $104/$113
After reports from UAE of intercepted missiles from Iran, a fire in Fujairah and a cargo ship with an as-yet unexplained engine fire , US WTI and UK Brent oil prices up near $104 and $113 respectively: https://t.co/zuJPK9uWkU
Longer Ship Routes Raise Oil Prices
Oil supply is not just barrels. It’s TON MILES If crude has to move from farther away because VLCCs avoid the Persian Gulf, the same barrel uses more ship-time. That means higher oil & product prices #Oil #Shipping #Energy #OOTT #Tankers #Hormuz
Tariffs, War, and Anger Spark Massive Aluminum Self‑Sabotage
Sky-high aluminum tariffs + a war that knocks out Middle Eastern aluminum supplies + pissing off one of the world's largest aluminum suppliers (and your nextdoor neighbor) = inarguably one of the biggest industrial own-goals in recent memory https://t.co/dgPngPBWuE
Crude Jumps on Unconfirmed Iranian Attack, Shipping Reports Swirl
gm, crude popped this morning on reports that Iran hit a US warship (CENTCOM has since denied) before pulling back Mixed reports of additional Iranian attacks on commercial shipping over past 24 hours, while Trump claims this AM 2 US-flagged ships...
Gas Price Forecast Jumps to $5.40, up $1
Top tick in gas prices this year? $5.40 per @Kalshi ... that's up a buck from the current level https://t.co/6iN7z5X7oB https://t.co/tl2oanX6LG
Real Gas Prices Match 30-Year Average After Adjustments
After adjusting for wages and fuel efficiency, gas prices are basically at the 30-year average @dualityresearch https://t.co/Ve6pijIEJ4 https://t.co/oYQQ7QtykW