Today's Commodities Pulse
Western subsidies risk creating a surplus in critical minerals
Western governments are committing tens of billions of dollars to critical minerals to curb China’s dominance. The United States has earmarked over $20 bn and Australia $9.4 bn, prompting analysts to warn of potential oversupply in rare‑earths and other metals.
Also developing:
By the numbers: M Battery Materials acquires graphite assets for $20M
"Energy Dominance" In Action
The closure of the Strait of Hormuz has tightened global oil supplies, prompting buyers to turn to alternative sources. U.S. crude exports jumped to 5.2 million bpd, the highest level in seven months, while net imports fell to a record‑low 66,000 bpd, nearly making the United States a net exporter for the first time since World War II. Export capacity is estimated at about 6 million bpd, but pipeline and terminal constraints are already limiting further growth. The surge is also inflating tanker freight rates as Asian charterers scramble for U.S. Gulf cargoes.
Cal-Maine’s Stock Falls as DOJ Reportedly Weighs Bigger Crackdown on Majo...
Cal‑Maine Foods’ shares slipped in after the Wall Street Journal reported the Justice Department is weighing a civil antitrust suit against the egg giant and several rivals. The probe follows a two‑year surge in egg prices that peaked above $6...
Crude Prices Deflate as Hormuz Hopes Gain Momentum
Oil markets fell sharply on Friday after U.S. and Iranian officials announced the reopening of the Strait of Hormuz. Physical spot prices and futures contracts both tumbled, reflecting traders' optimism that resumed Middle‑East shipments will narrow the current supply gap....
Justice Department Preps Antitrust Lawsuit Against Egg Producers
The U.S. Justice Department is preparing a civil antitrust suit against several leading egg producers accused of coordinating prices through an industry‑wide benchmarking service. The move follows record egg prices that topped $6 per dozen in the spring of 2024‑25...
Oil Prices, Apr. 17, 2026
Energy Intelligence, in partnership with Refinitiv, published its daily oil‑price snapshot for April 17, 2026. The report aggregates international spot and futures prices for crude benchmarks and refined petroleum products. It serves as a real‑time barometer for market participants tracking...
Market View: West Texas Gas Prices Plunge Well Below Zero
West Texas natural‑gas spot prices plunged well below zero as abundant Permian production collided with a maintenance shutdown on a key Southwest pipeline. The bottleneck forced the market to pay shippers to move gas, driving prices into negative territory for...
Fertilizer Prices Fall After Iran Says Strait Is Open
Urea prices in the U.S. Gulf fell about 18% to $640 per ton after Iran announced the Strait of Hormuz was open to commercial traffic. The drop follows a peak of $780 per ton earlier in the week and offers...
Aluminium in Crisis: War, Tariffs and a Market Running on Empty – by Andy Home (Reuters – April 16, 2026)
The ongoing Iran war has sparked a severe aluminium shortage, amplified by a missile strike that knocked out Emirates Global Aluminium’s Al Taweelah smelter. Aluminium Bahrain and Qatar Aluminium have already trimmed output due to power constraints, and the conflict has...
JinkoSolar Q4 2025 Earnings Call Shows 26 GW Shipments but Margin Collapse
JinkoSolar announced $2.5 billion in Q4 2025 revenue and shipped 26 GW of modules, but gross margin fell to 0.3% and adjusted net loss widened to roughly $120 million. The company’s net debt jumped to $3.44 billion, underscoring pressure from raw‑material costs and a...
Closing Grain and Livestock Futures: April 17, 2026
U.S. grain futures showed mixed movement on April 17, with May corn edging up 0.25 cent to $4.48 per bushel and soybeans gaining 3.5 cents to $11.67, while May wheat slipped 7.25 cents to $5.91. Livestock contracts fell across the...
Europe's Chemical Industry Slumps Over 80%, Threatening Global Commodity Demand
Investment in Europe's chemicals sector collapsed by more than 80% in 2025, cutting new capacity from 1.9 million to 0.3 million tons and wiping out 37 million tons of existing capacity. The downturn, driven by high energy costs, stringent regulations and cheap Chinese...
US Oil Shipments Via Panama Canal Near 4-Year High
U.S. crude shipments through the Panama Canal have surged to roughly 200,000 barrels per day, the highest level since July 2022. The spike is driven by Asian refiners seeking an alternative to Middle‑East oil after a week‑long disruption in the...
Hormuz Is (Apparently) Unblocked. Energy Markets Remain a Mess
Iran’s foreign minister announced that commercial traffic through the Strait of Hormuz is "completely open," a sentiment echoed by President Donald Trump. The news sent Brent crude futures tumbling more than 10% to $89 a barrel, their lowest level since...
Tight Cattle Supplies Could Continue to Support Prices
U.S. cattle on feed slipped 1% year‑over‑year to 11.576 million head, according to USDA data released in mid‑April. Steer‑calf and heifer inventories each fell about 1%, while March placements into feedlots dropped 7% to 1.709 million, the second‑lowest monthly total on record....
Gulf Oil Damage Means Two-Year Recovery Even if Strait Reopens
My view on @cgtnamerica on the long-term impacts of the Strait of Hormuz closure: "The fallout from the Gulf situation will cast its shadow for a while. 80 petroleum & refining facilities have been damaged. Even if the Strait opens tomorrow,...
Hormuz Closure Could Cut Global Energy, Drop GDP 10%
With Iran tensions flaring, a Strait of Hormuz shutdown could slash 10% of global energy. That means a straight 10% GDP collapse, no ifs or buts.
Nat-Gas Prices Rise on Expectations of Hot US Temps to Boost Air-Conditioning
May Nymex natural gas (NGK26) closed up 1.02% as forecasters expect above‑average spring temperatures to drive higher air‑conditioning demand. The rally follows a recent 17‑month low that was sparked by milder weather and elevated storage levels, which sit 5.8% above...
Futures Settle: Hints of New Demand Trump War Fallout, Boosting Nymex Natural Gas
Natural‑gas futures on the NYMEX held a tight range Friday but edged higher as traders sensed a modest lift in near‑term demand. The front‑month contract gained momentum after reports of President Trump’s peace overtures, which eased geopolitical concerns tied to...
Consus Ag Consulting Afternoon Wrap Up
Early trade on Friday was shaped by pre‑weekend position squaring and shifting dynamics in the Persian Gulf. A tentative cease‑fire between the U.S. and Iran, along with an Israel‑Lebanon truce, eased some headline risk but left uncertainty about troop movements....
European Steel Mills Signal €50-70/T Long Product Hikes
European steel producers in Italy and Germany announced €50‑70 per tonne ($59‑$82.5) price hikes for long products, to be offered next week. The increases reflect rising energy costs, the Carbon Border Adjustment Mechanism and tighter EU safeguards that bolster domestic...
Gold Soars As Iran Reopens The Strait Of Hormuz For All Ships
Gold prices jumped on Friday as Iran announced the full reopening of the Strait of Hormuz through April 22, easing a key oil‑shipping chokepoint. The front‑month COMEX gold contract rose 1.61% to $4,885.50 per ounce, while silver gained 4.4% to $82.47...
Daily Energy Report
Oil prices plunged more than 10% on April 17, 2026 after Iran announced the Strait of Hormuz was fully open for commercial shipping, sending Brent crude down $13 per barrel. The announcement, reinforced by President Trump’s remarks, sparked a rally...
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2266677324-578755e0d87348f391ce31a05edf704b.jpg)
Stock Market Today: Indexes Soar, Oil Dives After Iran's Foreign Minister Says Strait of Hormuz 'Completely Open' During Ceasefire; Dow...
Iran’s foreign minister announced the Strait of Hormuz was "completely open" during a 10‑day Israel‑Lebanon cease‑fire, sending West Texas Intermediate down 11% to about $84 a barrel and Brent to $89. The plunge hammered the S&P 500 energy sector, which fell...
Grains Report 04/17/2026
The latest grain report shows wheat futures gaining in Kansas City as the Great Plains missed expected rain, while USDA data reveal higher wheat ending stocks driven by stronger imports. Rice prices slipped, with USDA projecting a 12% cut in...
Global Commodities: Prices Get Relief
In this episode, J.P. Morgan Global Commodities Research analyst Greg Shearer explains how the recent reopening of the Strait of Hormuz and damage to Middle‑East aluminum smelters are reshaping supply dynamics for both oil and aluminum. He uses a "black‑hole"...
India Can Handle the Energy Shock if Iran Ceasefire Holds, Top Government Adviser Says
India’s chief economic adviser V. Anantha Nageswaran said the country can absorb the current energy‑price shock from the Iran war if the cease‑fire holds and extends. He expects oil supply and prices to normalise by the end of Q3 2026, allowing India...
Crude Oil Falls 10% as Strait of Hormuz Opens
Oil prices plunged over 10% on April 17 as Iran announced the Strait of Hormuz is fully open, allowing tankers to resume flow from the Persian Gulf. Brent crude fell 10.5% to $89 per barrel and U.S. crude dropped 10.8%...
CFTC Probes $‑Billion Oil Futures Spikes Linked to Trump’s Iran Policy Moves
The U.S. Commodity Futures Trading Commission has opened a probe into billions of dollars in oil futures trades that spiked minutes before two Trump administration announcements on Iran. The investigation targets activity on CME Group’s NYMEX and ICE’s futures platforms...
The World Needs an Oil Buyers’ Club
A U.S. naval blockade of Iranian ports in the Strait of Hormuz is cutting off a quarter of the world’s traded crude oil. The loss of Iranian shipments, combined with reduced output from Gulf producers, is deepening an already severe...
Australia Secures 100 Million‑Litre Diesel Boost Amid Fuel Crisis
Australia has secured an emergency shipment of 100 million litres of diesel from Brunei and South Korea following high‑level negotiations, a move aimed at easing a severe fuel shortage caused by Middle‑East conflict and a refinery fire. The boost comes as...
Wholesale Diesel Plunges; Retail Lags—Buy Cost‑plus
Diesel wholesale rack prices have dropped $.70/gallon in the past week and could drop another $.50 -.70 gallon over the weekend. Meanwhile, retail diesel has only dropped $.15/gallon since last week and if past trends hold the truckstops will be...
Is Hormuz Strait Open? A Short Comment for Traders and Investors
Traders are closely watching the Strait of Hormuz after recent satellite data confirmed that the main shipping lane remains fully operational. Kpler’s April 17 2026 analysis shows no significant vessel congestion or closures, despite regional geopolitical tensions. The report highlights that oil...
India’s Wheat Procurement Plummets 40% Due to Delayed Start in Madhya Pradesh
India’s wheat procurement for the 2026‑27 Rabi season is down 40% year‑on‑year, with total purchases at 5.134 million tonnes versus 8.357 million tonnes last year. Quality‑norm relaxations in Punjab and Haryana have already boosted purchases in those states, while Madhya Pradesh’s procurement...
Global Fertilizer Shortages Will Worsen Before Easing.
Energy & fertilizer shortages will likely still become greater before they ease, with prices needing to bring down demand to the new supply levels after damage assessments. We'll likely see lower fertilizer levels globally over the coming year, although it...
Crude Prices Shift; Everything Else Stays Unchanged
Nothing fundamentally changed today… … except the price of crude, which is a pretty important thing.
Brussels Under Pressure as Europe Risks Running Out of Jet Fuel
The European Union will unveil a draft plan on April 22 to address a looming jet‑fuel shortage triggered by the stalled reopening of the Strait of Hormuz. The proposal could introduce bloc‑wide monitoring of airport fuel inventories and a temporary suspension...
Traders Wager $760M on Oil Dip Before Hormuz Reopening
"...around 20 minutes before Iran's foreign minister announced on Friday that the Strait of Hormuz was open" Traders place $760 million bet on falling oil ahead of Hormuz announcement https://t.co/CGzgaSsWa9
Iran Conflict Destabilizes Eastern Mediterranean Gas Sector
The Iran war has disrupted Eastern Mediterranean gas production, exports, and development, threatened regional energy infrastructure, and increased political and investment uncertainty. /1
Jet Prices Dip Slightly on Hopes Hormuz Traffic Will Resume Soon
Jet fuel prices slipped modestly as optimism grew that a U.S.-Iran cease‑fire could lead to the reopening of the Strait of Hormuz. European jet‑fuel benchmarks have fallen about 16% from their recent peak but remain roughly 90% above pre‑war levels....
War on Iran Pushes US Gas Prices Above $4 per Gallon
Thanks to the US-Israeli war on Iran, prices at the pump have JUMPED by $1.15. The national US average just hit $4.13/gallon. US-ISRAELI WAR ON IRAN = CREATING AMERICAN PAIN AT THE PUMP. https://t.co/2D7sRK3hnJ
Oil Dips, but Hormuz Ceasefire Keeps Markets Wary
Oil prices are falling, but don't celebrate at the pump just yet. The Strait of Hormuz is "open" — for now. We're 5 days into a 10-day ceasefire. A lot can still change. https://t.co/RUshSF8tJh
Oil Prices Plunge as Iran Claims Hormuz Open
🛢️ OIL & IRAN WAR CONTEXT WEEKLY 🛢️ Crude prices cratered and term structure flattened on Friday following Iran’s declaration that Hormuz is “open” despite the fact that little traffic has actually managed to cross the Strait today. Summary below, link in...
Iran War’s End Won’t End Supply Chain Risks
Is the Iran War Almost Over? Why That Doesn't End the Supply Risks. #oatt #oott https://t.co/SUroio6mpX
Cattle Prices Slip $
About a 9 buck break in cattle from the highs in short order is probably about enough. Things are not as much one sided as they were from a few days ago. Equilibrium restored.
Hormuz Optimism Pushes Dated Brent Below $100
Hormuz optimism not just a "paper" market phenomenon. Backwardation coming off across the full Brent curve, and Dated Brent just fell back below $100/bbl for the first time since March 11th. https://t.co/KHm34R8Ort
Oil Markets Converge as Brent Slides Below $100
It turns out that oil financial and physical markets do converge -- just not in the way that many were expecting. Dated Brent is now below $100 a barrel (from $145 last week), and physical differentials in the key pricing window...
Analyzing US Refineries and Venezuela's Post‑Maduro Oil Rebound
There's a timeline in which the Iran War never happened, the Strait of Hormuz was never closed, and I spent the past two months doing really interesting niche data work on US refineries, light-heavy crude balances, and tracking the post-Maduro...
Oil Prices Plunge as Iran Confirms Hormuz Open
The physical oil market, like the futures, has had a big reaction to Iran saying the Strait of Hormuz is open. WTI Midland crude traded CIF at dated Brent plus $10.40, down a massive $6.80 from Thursday's offer. Lower offers too in...
Gold Jumps 19%, Bulls Eye Key Resistance
Gold Price Short-term Outlook: XAU/USD Surges 19% - Bulls Test Key Resistance https://t.co/Vjtj8eVXWs $XAUUSD Daily & 240min Charts https://t.co/ssUIryqB5v
Strait of Hormuz Reopens, Physical Oil Prices Converge to Futures
The blockade called Iran's bluff and the reopening of the Strait of Hormuz in response is a remarkable success in very little time. Physical oil prices (white) will now converge down to futures prices (orange), a scenario most didn't think...