Know What's Happening in Commodities
Know What's Happening in Commodities
Ireland launches €250M relief package as heating oil prices double
Heating oil prices in Ireland surged from about $545 to over $1,090 per fill within a month amid the Middle East conflict. The government responded with a €250 million ($273 million) relief package that includes excise cuts and a diesel rebate, though experts say a national energy‑security strategy is still lacking.
Also developing:
By the numbers: Oil majors acquire $164M of Alaska oil leases
The outbreak of the Iran war has pushed global oil‑derivative prices higher, causing imported 10 ppm (S10) diesel in Brazil to trade above biodiesel for the first time since October 2023. On 6 March, S10 diesel at Paranaguá reached R5.173 /m³, surpassing the R4.656 /m³ biodiesel benchmark in the Paraná‑Santa Catarina hub. Diesel prices jumped 45 % since the conflict began, while Brazil’s diesel imports rose 17 % year‑on‑year to 2.7 bn L. The price reversal fuels biodiesel lobby calls for a higher blending mandate.
European jet fuel reached an all‑time high of $1,646.25 per tonne on 12 March, with premiums soaring to $109.72 per barrel over Brent crude and $518.5 per tonne over ICE gasoil. The price surge follows the war in the Middle East,...
European refiners are maintaining their spring turnaround schedules despite a sharp surge in crack spreads triggered by the US‑Iran war’s disruption of Strait of Hormuz flows. Jet crack spreads peaked at $109.19 per barrel and diesel cracks at $63.92 per...
Brent crude has traded in a $47 range since late February. $73 to $120 and back to $96. That's not a market. It's a seismograph. Nobody has conviction. Everyone has exposure.
During a Senate Agriculture Committee hearing, lawmakers highlighted how the Iran‑Israel war threatens the Strait of Hormuz, a conduit for up to 30% of global fertilizer exports. Farmers warned that disrupted shipments could push already‑high input costs to record levels,...
Around 15 metric tons net of physical Silver was drained from the SGE & SHFE Silver vaults today.
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Gas prices rose another two cents on Thursday, pushing the national regular‑gas average to $3.60 per gallon – a 62‑cent increase since the end of February. The surge follows higher crude prices driven by the Iran conflict, ending a 13‑week...
The recent surge in global natural‑gas prices has laid bare Britain’s over‑reliance on imports, costing households roughly three times what Americans pay. The author argues that a decade‑old decision to ban on‑shore shale fracking has left the UK vulnerable, missing...
Gold prices dropped sharply on Thursday, with front‑month COMEX gold falling $49.8 (‑0.96%) to $5,129.30 per ounce. The decline coincided with crude oil jumping to $94.50 a barrel, up $7.25 (8.31%) as Iran intensified threats and the Strait of Hormuz...
Friend of mine that runs a large agricultural operation just texted: "We locked in pricing for farm inputs late last year & early this year before the Iran War started, which is good because now our suppliers will not even provide...
U.S. data centers, especially those supporting artificial intelligence workloads, are projected to drive a sharp rise in electricity consumption, pushing natural‑gas‑fired power generation beyond the Energy Information Administration’s current forecasts. The EIA’s latest analysis highlights that gas will continue to...
The ongoing conflict in the Middle East has disrupted the Strait of Hormuz, choking the primary aluminium supply chain that relies on Gulf Cooperation Council (GCC) smelters. Force‑majeure notices from Qatalum and Aluminium of Bahrain have driven premiums higher, with...
U.S./Iran war is not (yet) an oil shock Oil futures prices have increased by more than a third since Israel and the United States attacked Iran and almost two-thirds since the start of the year but the increase is not yet...
Oil didn't buy the "supply of reserves" news. Why ? It was already priced in. What's next ? Well , it's a 🧵 1/1
Albert Edwards warns that markets are overlooking the inflationary pressure from a new oil price spike, arguing that bond yields could rise if the risk is ignored. He notes that unlike the previous surge, stimulus cash has largely vanished, so...
The chart below shows the national average retail gasoline price from an AAA Motor Club survey. Yesterday was day 11 since the war started on February 28. The middle panel shows the 11-day dollar rise. The current 61-cent rise was exceeded...
America’s Strategic Oil Exports @WSJ Great and important read. I still believe the WSJ Editorial Board does some of the most balanced and informed analysis in the media. https://t.co/sxJ6f76VCl The International Energy Agency said Tuesday that its 32 member countries will...
U.S. natural gas futures were largely flat Thursday, with the front‑month contract up 1.3 cents to $3.222 per MMBtu. The Energy Information Administration reported a 38 Bcf draw from storage for the week ended March 6, near the low end of forecasts....
Airfares are beginning to climb as jet-fuel prices surge following U.S. and Israeli strikes on Iran, pushing airlines to raise fares and fuel surcharges while warning of more increases if the conflict drags on. Carriers say travel demand remains strong,...
📉U.S. UCO imports fell off a cliff to start 2026. U.S. imports of waste vegoils (including used cooking oil) dropped to a 3+ year low in January. Volumes were down 82% from January 2025 and no imports were recorded from China...
The escalating Middle East conflict is pushing crude oil toward $200 a barrel, straining global markets. The Philippines’ strategic reserves only cover about 45 days, leaving the nation exposed to price shocks. A newly mandated four‑day work week will shift...
If Hormuz flows do not resume for a month, that's the worst-case disruption duration my colleagues at @RapidanEnergy and I modeled last June when we mapped out a US-Iran conflict on global oil and LNG markets and prices. We modeled disruption...
Renewables are the only exit strategy: Day 12 (updated) impact of the Israel and US attack, tracking Force Majeure, surcharges, and the explosive inflation behind the headlines FORCE MAJEURE IMPLICATIONS >Shell: FM on all LNG cargoes from Qatar >QatarEnergy: Pretty much totally down,...
Oil prices rose despite the International Energy Agency and U.S. government announcing a large Strategic Petroleum Reserve (SPR) release. Analysts say the release was too modest to offset ongoing supply constraints from OPEC+ cuts and heightened geopolitical risk in the...
The Iran War could trigger a global economic crisis and you won’t find a better summary of why than this one sentence from Rachel Ziemba below. Yes, this is about gas prices. But it’s also about: - the cost of food...
Donald Trump suggested the US‑Israel conflict with Iran could end soon, but analysts warn the war may linger, keeping oil markets on edge. Prolonged fighting threatens to disrupt the Strait of Hormuz, a critical chokepoint for global oil shipments, which...
ING commodity strategist Warren Patterson discusses the ongoing oil price volatility, with Brent crude intermittently breaching $100 per barrel despite the International Energy Agency’s announcement of record supply releases. He examines how the conflict with Iran, particularly the strategic choke...
Why are oil speculators assuming this war is short and irrelevant? Yesterday I talked to an energy analyst I highly respect, and he waved off the Iran situation. Oil/gas markets are dynamic and flexible, he posited, they can handle it....
While crude for next month delivery is still well below the Monday highs, crude for delivery in 12 months is almost back to its recent peak https://t.co/SGyTj8k9S6
in fairness this is the only correct answer, if Bessent says "$xyz" then the Iranians have every incentive to act in a manner that drives oil prices to "$xyz"
I don't know if the peak oil price will be $125 or $225 but I strongly suspect on a time basis it comes in the next 4-6 weeks, and markets will trade differently after that peak (like June 2022).
Nothing new here, and cycles matter + drivers/duration, but I'd note in more durable moves you can repress or disinflate, but you can't do both. The room for repression is def far less, the durability and duration of the drivers in...
Cramer getting sassy about Iran not having the cards to force oil to $200/bbl by citing the US experience in the... Vietnam War? I've LITERALLY NEVER BEEN SO BULLISH. https://t.co/d8799zIp8i
Brent closes the day above $100 a barrel for the first time in three and a half years. Note: during the 2022 crisis, Brent settled above triple-digit level for 110 days. So far in 2026, just one day.
Brent crude price, Iran-War-to-date My expectation is that this rough/steady slope will hope, grinding $3+/bbl higher each and every day this crisis persists, always with the possibility of big lurches higher should Iran successfully take out major regional oil infrastructure. https://t.co/nwGMcg7rja
J.P. Morgan just raised its gold target to $6,300. When the biggest bank on Wall Street tells you to buy the hardest asset, maybe the dollar story isn't as strong as you think. https://t.co/Rt7VeK8qHJ
🚨 Mid-week Iran War and oil market update for Commodity Context subscribers. More regular coverage of the acute volatility across the increasingly strained oil complex in Oil Context Weekly tomorrow. https://t.co/lvkkTTJr9s
Gas prices are up 22% in the past month, but that's for regular unleaded. Diesel is up 32% -- and that's a pass-along price that can impact what we pay for lots of goods.
Over the past 25 years anual average REAL TERM Brent oil prices were > $100/b in six separate years and were >$150/b four of those (2008, 11, 12, 13). So by historical standards, today’s oil prices aren’t particularly high yet.
There also is a world market for oil. When oil prices go up in Europe and Asia, people here pay more. Even a Trump-Energy Secretary should know this.
Saudi Arabia is booking more and more super oil tankers at sky high rates (>$450,000 a day vs pre-war levels of $100,000 a day) to shift crude from the Red Sea into global markets.
NEW: Russia is earning up to $150mn a day in extra budget revenues from oil sales amid price rises thanks to the US-Iran war. Moscow has so far earned $1.3bn-$1.9bn from taxes on oil exports and could receive $3.3bn-$4.9bn in total...
US crude #oil is up nearly 10% - second largest day's rally for the commodity in four years. Looks like the implied volatility was giving a portentous signal ahead of time. It wasn't like the closure of Hormuz was surprising news......
Rio Silver $RYO.V $RYOOF Great buy opp setting up here on Rio Silver with Silver still trading at $85/oz and the company going into production by year end ... https://t.co/FCYB1X4WaD
If the Trump admin is suspending the Jones Act you better believe that they're pretty darn close to some kind of petroleum export restrictions. Those will make the *domestic* US pricing environment more tolerable for a few weeks—after which it will...
Oil is still well below its highs from the extreme buying that we saw early Monday morning. But if it closed here for the day, it'd be its highest close yet.
U.S. comparative inventory rose 1.5 mmb for the week ending March 6 Crude C.I. rose 1.8 mmb, gasoline rose 1.5 mmb and distillate rose 0.9 mmb #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket https://t.co/bXRNoEFCkI
Gold should be exploding right now. Here's why it isn't Oil +8%. Stocks tanking. USD rising on safe haven flows But gold? Flat Meanwhile Iran's new Supreme Leader Khamenei says Strait stays closed warns of US military bases attacks Watch what happens next👇...
Prediction markets think WTI futures haven’t peaked yet Market-implied odds of maximum price of front-month contracts this year https://t.co/KJycyDttIE https://t.co/obrkd1ueUb
All eyes & hopes rest on the 2 main oil ports of #MinaAlFahal in Oman and #Fujeirah in UAE if any of these continues to be impacted then it's serious for oil prices. ميناء_الفحل #ميناء_الفجيرة#
