Know What's Happening in Commodities
Know What's Happening in Commodities
Spot oil prices hit record $144.46 as Brent futures tumble
Spot oil prices surged to a record $144.46 per barrel, the highest since the 2007‑08 rally, while Brent futures dropped to $95.20, a 13% decline. The spread between Dated Brent and futures widened to $35.87, reflecting tight prompt supply after Strait of Hormuz disruptions and optimism following a US‑Israel‑Iran cease‑fire.
Also developing:
By the numbers: IFC commits $5.25bn to back FQM's Taca Taca mining project
On April 10, 2026 MCX spot gold slipped 0.6% to ₹152,561 per 10 g (≈ $1,837) and silver fell 0.7% to ₹242,067 per kg (≈ $2,917). The pull‑back was sparked by profit‑taking as the US dollar strengthened and crude oil rose about 1%. A tentative US‑Iran cease‑fire eased geopolitical risk, reducing safe‑haven demand for bullion. Prices across major Indian cities remained tightly clustered, showing only marginal regional differences.
The Dubbo cattle sale on 9 April 2026 posted a yarding of 7,700 c/kg (≈$51 USD/kg), the highest level in the past two weeks. Prices for prime vealers and yearlings ranged from 362‑500 c/kg ($2.4‑$3.3 USD/kg), while feeder steers and heifers traded 380‑529 c/kg and 316‑484 c/kg respectively....
The Albanese government announced it will underwrite spot‑market gasoline and diesel purchases for Ampol and Viva Energy at prices above normal commercial rates. The move targets regional and farming communities where stations have run dry, and is framed as a...
Ford Motor Co. has formally asked the U.S. administration for relief from the 50% ad valorem aluminum tariff after a September blaze at Novelis' Oswego, New York plant knocked out aluminum sheets needed for the F‑150. The outage threatens $1.5‑$2 billion...
A broad coalition of the EU‑backed EPP and national‑conservative parties in the European Parliament formed on Thursday to overhaul Germany’s faltering energy policy. With fuel prices up 25%, gas 20% and electricity 70% since 2005, the bloc pushes for nuclear...
The U.S. Energy Information Administration has upgraded its 10‑year average NGL production forecast by 14.4% to 8.85 million b/d and raised demand outlooks for hydrocarbon gas liquids. The revision signals a major supply‑side shift for a key petrochemical feedstock and could tighten...
Indiana Governor Mike Braun announced a 30‑day suspension of the state’s 7% gasoline sales tax, leaving the $0.36 per‑gallon excise tax untouched. The move follows a sharp rise in fuel prices after the United States launched military action against Iran,...
It is not good to have your cities built around a substance that is dependent on the Middle East not having wars Global oil has peaked. Now all we can do is fight over less and less available cheap oil, and...
What about the US adding to exports? It rose to 5m/barrels day from 4 last year and 3m/barrel in 2022. Obvs seems we are still short 8m/barrel a day... https://t.co/SkCnXO0dU9
The United States and Iran announced a two‑week ceasefire on April 8, 2026, but within 48 hours Israel’s heavy bombardment of Lebanon and Iran’s retaliatory moves have rattled the deal. The fallout has knocked the CAC 40 lower, slumped India’s Sensex by 1,100...
Middle East Energy Shock Snaps China’s Deflationary Streak—Factory-gate prices rise in China for the first time in over three years @hannahmiao_ https://t.co/8yOC6VYhc5 https://t.co/8yOC6VYhc5
Renewables don’t solve oil shocks, says @JasonBordoff They rewire the dependencies. Less oil means more minerals—and supply chains that run through China. And the economy's heavy lifting—mining & global transport—runs on fossil fuels not electricity You don't escape energy risk
Standard Chartered warns that the recent oil‑price correction may be too deep, noting Brent crude at $95.57/bbl and WTI at $96.99/bbl after the steepest drop since the Iran war began. The bank’s Q2 forecast still targets Brent around $98 and...
LNG is going to the highest bidder. This carrier is diverted form Europe to Brazil Map form @Kpler
As of today, Saudi Arabia has 31 mb of crude in storage on its Western cost. (Kpler data)
In mid‑March, heightened Iran tensions triggered a sharp sell‑off in gold and mining stocks, which many analysts deemed an overreaction. The dip pushed gold into deep oversold territory, prompting a swift rebound as the 200‑day moving average stayed intact. Technical...
JUST IN: Oil prices are climbing as the U.S.-Iran ceasefire hasn't increased traffic through the Strait of Hormuz.
JUST IN: Oil execs are pushing back on White House talks that could let Iran impose tolls on Strait of Hormuz shipments, threatening oil costs.
Argentina’s oil output surged to 847,000 barrels per day, a 16% year‑over‑year rise driven by the Vaca Muerta shale play. Production in the Neuquén Basin jumped 30%, positioning the country as Latin America’s fourth‑largest oil producer. The government targets 1 million barrels...
The vast majority of the “dislocation between physical and paper barrels” is very simply extreme backwardation, meaning the steep premiums for spot deliverable barrels (as BBG referred to them today, ASAP barrels) relative to later-dated cargoes. Crude futures curves have...
Gold edged toward a third consecutive weekly gain on Friday, hovering around $4,765 an ounce. The metal is on track for roughly a 2% rise this week as central‑bank buying offsets lingering inflation worries. Traders are eyeing a U.S. delegation...
Oil futures climbed Thursday after a sharp sell‑off on Wednesday when traders reacted to the fragile cease‑fire between the US and Iran in the Gulf. The cease‑fire, brokered by Washington, eased immediate geopolitical risk but left uncertainty over longer‑term supply...
U.S. gasoline prices surged to an average of $4 per gallon in early April 2026, the highest level since 2022, driven largely by geopolitical tensions from the Iran war. Retail stations are seeing tighter margins because they cannot pass wholesale...
After a brief lull, gold and silver markets are searching for direction following the collapse of a last‑minute ceasefire that had temporarily eased fears of a broader conflict. Prices have largely held steady, but the sudden reversal of geopolitical risk...
The S&P 500 just posted its 7th straight gain. The Dow turned positive for 2026. Everyone is celebrating the ceasefire. But there's a number hiding in plain sight that should terrify you: physical Brent crude is trading at $124.50 while...
Saudi Arabia announced that attacks on its energy infrastructure have reduced its oil production capacity by roughly 600,000 barrels per day. The cut pushed Brent crude above $96 a barrel, marking a 1.2% gain on Thursday, while West Texas Intermediate...
Europe’s gas market has cooled from March’s three‑year highs, but analysts warn the relief is fleeting. Storage levels sit at just 29% of capacity, well below the 35% benchmark from a year ago, leaving the continent exposed as it races...
US natural‑gas futures slipped 5.4 cents on Thursday, settling at $2.67 per MMBtu, the lowest level in 17 months for the prompt‑month contract. The decline followed a larger‑than‑expected weekly build in storage, which analysts at Gelber & Associates said confirms...
An attack on Saudi Arabia's East‑West pipeline knocked out roughly 700,000 barrels per day of throughput, tightening global oil supplies. Meanwhile, U.S. LNG exports surged to a record 43.3 million tonnes in March, driven by new projects and a redirection of...
British Prime Minister Keir Starmer told ITV’s Talking Politics podcast he is "fed up" with UK energy bills swinging wildly because of actions by U.S. President Donald Trump and Russian President Vladimir Putin. He linked the volatility to recent oil‑price spikes...
Fastmarkets published its latest North America ferrous scrap price assessment for No.1 busheling steel scrap delivered to mill in Chicago on Thursday, April 9, 2026. The assessment is part of Fastmarkets’ broader scrap pricing package and provides a delivered‑mill benchmark for high‑grade...
Oil prices surged on April 9 as a fragile US‑Iran ceasefire failed to quell market nerves, pushing Brent above $85 per barrel while spot prices held steadier. Iranian missile strikes on Saudi oil assets trimmed OPEC‑Plus output by roughly 200,000...
Lion Selection Group’s managing director Hedley Widdup says the mining rally that began in April 2024 is only at its early stage, with the ASX Resources Index up roughly 70% and capital flowing back into junior explorers. Since 2022 the...
Iran attacked Saudi Arabia's strategic East‑West pipeline, knocking out about 700,000 barrels per day of capacity, and simultaneously struck the Manifa and Khurais production complexes, trimming Saudi output by roughly 600,000 barrels per day. The pipeline, which routes crude to...
On April 9, 2026 a cluster of natural‑gas market developments were reported. The EU announced a softening of its methane‑emission regulations to avert a potential supply crunch, while Israel’s Energean signaled the restart of production at the Karish offshore field....
Oil prices rose sharply on Thursday as West Texas Intermediate settled at $97.87 and Brent at $95.92, driven by persistent disruptions in the Strait of Hormuz and a reported 600,000‑barrel‑per‑day cut to Saudi production capacity. Despite a tenuous cease‑fire between...
Oil prices closed up about 1% on Thursday, with Brent at $95.92 and WTI at $97.87, but both remained below the $100 barrier for a second day. The market initially spiked over 5% on doubts about the durability of the...
The United States and Iran agreed to a two‑week ceasefire on April 8, 2026, but Israel’s massive bombardment of Lebanon and Iran’s threats to close the Strait of Hormuz have already strained the truce. Oil prices surged, dragging down European...
Iran’s deputy foreign minister Saeed Khatibzadeh announced a temporary closure of the Strait of Hormuz, accusing Israel of breaching the cease‑fire. The move pushed U.S. crude oil futures more than 5% higher after a 16% plunge the day before, reviving...
News today did not lead to higher PM futures open interest (unless you count gold OI being 2.5k contracts off the bottom)... #gold 357k +2.5k #copper 228k +3k #silver 116k +0.6k #platinum 61k +1k #palladium 14.6k -0.6k new low
Demand for rare earth magnets has doubled since 2015, and the International Energy Agency projects a 30% increase by 2030. China now controls roughly 60% of mined production, over 90% of refining, and 95% of permanent‑magnet output, creating a single‑source...
Brazil is on track to exhaust its 1.106 million‑tonne beef export quota to China by early May as cattle prices hit a record R$365 (≈US$71.6) per arroba. March saw a historic 233,950 tonnes of fresh beef shipped, generating roughly R$7 billion (≈US$1.37 billion) in...
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The USDA’s latest World Agricultural Supply and Demand Estimates (WASDE) raised season‑average price forecasts for wheat, corn, soybeans, soybean meal, cheese and cotton. Wheat and corn prices each rose 5 cents to $5.00 per bushel and $4.15 per bushel respectively,...
🟥🟥🟥Official Source at the Ministry of Energy: Operational Activities Halted at Several Energy Facilities in the Kingdom due to Recent Attacks https://t.co/YhaVlatjkT Riyadh, April 9, 2026, SPA -- An official source at the Ministry of Energy stated that important energy facilities in...
The analog chart below shows the major oil events since the 1970’s. The green line (1990 Gulf War) remains the best-case scenario, namely a short war that produces a full roundtrip in crude oil. Even by 1990 standards, the stock market...
Ground beef prices CONTINUE TO SOAR. Prices are higher than during the pandemic and up over 20% from a year ago. AFFORDABILITY = TRUMP'S ACHILLES HEEL. https://t.co/20cGSN0AIn
15 attacks in 12 days by Iran disrupted global oil and LNG flows #OilMarkets #Energy #Shipping #Geopolitics #Hormuz https://t.co/ocx5vrbgxM
The physical Brent market remains very, very strong, even if Dated Brent has come off from its all-time high reached on Tuesday (down around $15). Physical premia for prompt oil (or as my colleague @AlaricN calls it: “ASAP barrels”) are...
The more "messy"/"inefficient" the re-opening of the Strait of Hormuz is, the higher shipowners' profits are 🇮🇷🛢️🚢 @ed_fin on "Persian Gulf Traffic Jam" as tanker bull case: Apple🔊https://t.co/qUjYx8adg2 Spotify📽️https://t.co/07NUjj4n74 1/2 https://t.co/yWohqK1at9
Crude oil finished the week at $112 (WTI) and $109 (Brent), making the current oil shock almost a double. https://t.co/7EKQWyQ7zM
