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
Indian gas utility GAIL has purchased a cargo of Omani liquefied natural gas for delivery next week, priced between $17 and $20 per million British thermal units. The cargo, loaded on the vessel Orion Hugo chartered by Shell, is slated to arrive in India around March 15. The purchase comes as India seeks to close a shortfall caused by the closure of the Strait of Hormuz and a force‑majeure on Qatar supplies. The deal helps sustain the country’s roughly half‑imported 195 mmscmd gas consumption target.
Also, as the IEA releases, member countries are reaching out to China to make sure it doesn't use the opportunity to buy more barrels for its own reserve (as it did in 2022). (...the IEA-Chinese coordinate was last done in 2011...
The European Commission is evaluating a gas‑price cap to dilute gas’s influence on electricity pricing across the bloc, as announced by President Ursula von der Leyen. The measure is intended to curb soaring power bills for households and industry. Critics...
S&P Global Ratings warns that India’s oil‑marketing firms IOC, BPCL and HPCL could see profit margins squeezed as they keep retail petrol and diesel prices steady amid a recent crude price surge. Crude oil jumped above $100 per barrel after...
In this episode, Jim McCormick of agmarket.net breaks down the March USDA WASDE report, noting that wheat and corn numbers were largely unchanged while soybean imports and crush demand were modestly increased. He explains how the lackluster report has nudged...
Four years after Russia’s invasion of Ukraine, Moscow’s gas strategy has shifted from dominating Europe to seeking new markets amid a severe EU storage shortfall. The EU’s gas inventories sit at just 30 % of capacity, prompting a short‑term reconsideration of...
Australia is rapidly constructing massive, windowless steel cylinders on the outskirts of its largest cities to store fuel. Each tank, up to 50 metres in diameter and ten storeys high, can hold tens of millions of litres of petrol. The...
The International Energy Agency has proposed the largest ever release of strategic oil reserves to curb a price surge linked to the Middle East conflict. Oil prices slipped below $90 a barrel after the report, boosting equity markets. Governments are...
South Korea will speed up the restart of nuclear reactors undergoing maintenance to secure energy as the war in the Middle East chokes fossil fuel supplies 🇰🇷☢️ The nation will seek to start two units this month, and a further four by...
Tomorrow the 32 International Energy Agency members will vote on a proposal to tap up to 400 million barrels from their strategic petroleum reserves, a release larger than the 240‑million‑barrel drawdown after Russia’s 2022 invasion of Ukraine. The IEA holds 1.8 billion...
Good morning #China 🇨🇳 silver is trading at $100.84/oz or a premium of 13.8% above #LBMA gold is trading at $5,229/oz or a premium of 0.3% >LBMA
More on the IEA reserves: US has only crude Japan has a mix of crude and products Europe has mostly products The mix of the release is as important as the size of the release
Indian edible‑oil buyers are accelerating shipments as vegetable‑oil prices and freight rates surge, fearing delays from the Middle East conflict. India, the world’s largest importer, is curbing fresh purchases of soy and sunflower oil, which could temper further price spikes...
When the IEA release is announced, my focus won't be on the headline number (say 300-400m barrels). Ignore that number. The key is the flow, in BARRELS PER DAY, the IEA promises FOR THE FIRST 20-30 DAYS of the stockdraw, and...
Spoke with Bloomberg earlier today about the IEA stocks release plan, the information war on top of the military conflict in the Mideast, the severe pricing dislocations in the oil market, plus the unfolding impact of the continued closure of...
Australia’s diesel imports remain strong, with about 5.8 million tonnes expected by the end of March 2026 – the second‑largest first‑quarter volume on record. Real‑time tanker tracking from LSEG Vessel Explorer captures roughly 90 % of these shipments, confirming that physical supply...
How would a big IEA release look considering: -- The war is about to be over "very soon" -- The market is well-supplied, as repeatedly and recently claimed -- Brent is <$90 Just asking... 😅🤔
The world's largest LNG plant hasn't exported a shipment in five days. That's the longest streak since at least 2008 🇶🇦⚠️ Qatar shut its Ras Laffan facility last week after a drone attack The longer Qatar's outage continues, the tighter the market...
The G‑7 is debating a coordinated release of 300‑400 million barrels from IEA strategic petroleum reserves to mitigate the Hormuz supply crisis. Historical draw‑down rates have never exceeded about 2 million barrels per day, meaning the release would cover only a fraction...
The IEA is preparing to release more oil than it did after Russia invaded Ukraine. The Strait of Hormuz remains closed to tankers. 🔒 Members-Only https://t.co/TcCIMKXR4l
Crude Oil adjusted for inflation is quite cheap An all-time high is very realistic -- that would put Crude above $220 per barrel Likely by the end of this decade $CL_F https://t.co/oQOmEtjGtH
Diesel prices are edging toward $5 a gallon, squeezing margins for owner‑operators and carriers. While macro forces such as Middle‑East tensions and Fed policy are beyond a driver’s control, two levers remain: where fuel is purchased and how much is...
US #EIA forecasts #Brent >$95/barrel over the next two months in its latest STEO. https://t.co/YJdFYlyAms
IEA Proposes Largest Ever Oil Release From Strategic Reserves…but if one country objects then it won’t go through (kinda like OPEC…) https://t.co/wnthFedVaT
The March WASDE report was largely unchanged, with U.S. corn ending stocks holding at 2,127 million bushels and global corn stocks edging higher. Meanwhile, the Middle‑East conflict is pushing nitrogen‑based fertilizer prices up, raising concerns over planting costs. Higher fertilizer costs...
Gasoline Prices Spike, Now up 25% since January, Diesel Prices 40%, Heating up Inflation. California is back over $5. Prices in Texas jumped by 25% month to month, to over $3.23. https://t.co/hv90K5cgPf https://t.co/NCe7JLzqmA
My monthly takes a look at oil price scenarios Inspired by Jurassic Park and Jeff Goldblum’s explaination of chaos theory. This hit close to home. Made my mom cry - should have warned her about the ending. The Butterfly Effect...
Diesel prices jumped nearly a dollar, with the EIA reporting a national average of $4.86 per gallon for the week ending March 9, the highest level since December 2022 and approaching the $5 mark. California remained the costliest market at $6.10 per...
Want to understand what's going on with rising oil prices and Iran? I gave a full breakdown on @tbpn. The basics: • There is absolutely no substitute for reopening the Strait of Hormuz, whether through rapid victory or through a well-protected convoy. •...
Oil prices are spiking as the frozen Straits of Hormuz has become the epicenter of the conflict. As of Sunday night’s futures open, WTI futures are trading at $108, which could make the...
The episode covers a sharp drop in oil prices toward $80 a barrel as markets anticipate the release of strategic stockpiles amid Middle East tensions, while Australian consumer confidence falls and business sentiment turns negative. It highlights China’s surge in...
Absolute insanity: In just 2 hours, oil prices have now fallen -$10/barrel and risen +$11/barrel, with prices now nearing $90/barrel again. This is unprecedented volatility.
After a weaker overnight session, the market opened mixed with grains under pressure and soybeans gaining. Soy products rallied, driven by speculation that soybean balance sheets may tighten enough to trigger rationing. Grain prices were weighed down by divergent global...
February 2026 saw a split in global ferrous scrap pricing, with Europe and China posting modest gains while the United States and Turkey experienced declines. Turkish HMS 1&2 (80:20) slipped 0.6% to $373.1 per tonne, and U.S. East Coast HMS...
The Israel‑U.S. attacks on Iran have turned the Strait of Hormuz into a virtual no‑go zone, halting shipments of crude, natural gas and key fertilizers. Blocked exports of nitrogen, ammonia and phosphates pushed urea prices 71% to $600 a ton,...
US oil prices fall over -16% on the day and officially drop below $80/barrel. Geopolitical risk premiums are being rapidly priced-out. The oil market says the war is ending.
An analyst cited by the Wall Street Journal estimates that if the U.S.-Israeli conflict with Iran ended today, shipping traffic in the Persian Gulf would normalize in about two weeks and oil production would return to pre‑war levels within two...
Brent becomes extremely volatile amid confusion about war’s duration Brent futures traded in a record daily range of more than $35 per barrel on March 9, as traders reacted to conflicting signals about the closure of the Strait of Hormuz...
A now-deleted post from Energy Secretary Chris Wright whipsawed crude for the second-straight session 🤡 @ENERGY $USO https://t.co/XlECoBdhiQ via @WSJ
New free article: Tail Events in Crude Oil Plus Inflation-Adjusted Prices. Link in reply below. 👇 https://t.co/zZ0F6nhkje
Why you reeeeally need to think before you tweet if you’re the Energy Secretary. Oil prices fell under $80 bc of this. US official: ‘Not true’ Navy successfully escorted oil tanker through Strait of Hormuz https://t.co/nI7oZeeaDh
Foreign Minister of Iran claiming current oil disruption is 4-20x more severe than previous oil crises https://t.co/33VOGTSEeb
Reports indicate US Energy Secretary deleted his social media post claiming the US Navy escorted an oil tanker through the Strait of Hormuz. USD has turned better bid following the deletion. Stocks trim earlier gains. April WTI recovering off...
The Strait of Hormuz carries 20% of global oil demand. It's still closed. OPEC+ pledged 206K bpd in April. Middle East producers are cutting because storage is full. Supply math doesn't work when the pipe is shut. https://t.co/EMaJvlSk4u
U.S. Navy escorts its first tanker through the Strait of Hormuz. #corn & #wheat prices follow crude oil lower, but #soybeans hang onto modest gains on hopes we'll get final RVOs from EPA any day, with possible exports to China....
Oil market isn't going the way Iran hoped. Amazing what the Saudi/UAE pipelines can do, plus the (very clear) threat of SPR release. Plus, oil crisis are defined by price x duration. Without a feared long disruption, investors aren't chasing oil futures...
This Bloomberg headline crossing now may explain the new downturn in crude oil prices (repost) --- *US NAVY ESCORTED AN OIL TANKER THROUGH THE STRAIT OF HORMUZ
JPMorgan sees a 10% $SPY pullback. Goldman raised Brent to $76 Q2 target — before oil hit $111. When the sell-side is behind the curve, the real move hasn't happened yet. https://t.co/eWvAv1XMRu
*US OIL PRICES EXTEND DECLINE, FALL 15% TO TRADE NEAR $80/BBL April 2026 WTI futures are now down ~32% since Sunday night's peak https://t.co/9QugACQ3Q0
Think of this graph of real U.S. price and electricity production data, straight from the Department of @Energy, next time you hear the false claim that renewables increase electricity prices and that coal, gas, or nuclear is needed to keep...
