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
The Oil Market Faces a Major Reckoning if US-Iran Peace Talks Fail
Oil futures on the NYMEX are trading below $100 per barrel, while spot prices for immediate delivery to Asia and the Middle East sit between $126 and $140. The $30‑$40 premium reflects supply constraints caused by Iran’s restriction of the Strait of Hormuz. Traders are betting on a diplomatic breakthrough in US‑Iran talks, but the May contract’s April 21 cutoff looms as a critical deadline. If negotiations falter, a rush to secure remaining contracts could spark a rapid price surge.
Commodities: Oil Supported By Ongoing Supply Risks
Oil prices rose for a second consecutive session as fresh supply‑risk concerns in the Middle East kept Brent near $96 per barrel. Attacks on Saudi and Kuwaiti infrastructure have tightened the market, preserving a geopolitical risk premium despite cease‑fire talks....
When Demand Falls but Prices Rise, Who Really Pays?
U.S. food prices remain 25‑30% above pre‑pandemic levels even as consumer demand eases, breaking the traditional price‑volume link. Cereal and snack categories illustrate the paradox: prices for family‑size boxes now sit between $6 and $8 while sales volumes decline. Companies...
US-Iran Ceasefire Eases Oil Prices but Gulf Economies Showing Strain – Oxford Economics
A two‑week US‑Iran cease‑fire announced on April 7 triggered a 13% drop in Brent crude, pulling prices to about $93 per barrel. Oxford Economics still expects a two‑month closure of the Strait of Hormuz followed by lingering disruptions, forecasting a 0.8%...
Rising Energy Prices Trigger Systemic Cost‑of‑Living Surge
This isn’t just about oil. It’s a shift in the entire system. Energy → food → cost of living When energy moves structurally higher, everything built on top of it follows. That means: Higher food prices More pressure on households Less margin for error And a move away...
Gold Digger: Is Gold Too Bullish on the Ceasefire? Experts Are Split
Gold prices hovered around $4,762 per ounce after a cease‑fire in the Iran conflict eased short‑term panic but left the market divided. Metals Focus highlighted Turkey’s massive 131‑tonne gold sell‑off in March as likely temporary, citing past patterns of rebuilding...
China's Sulphuric Acid Export Ban Boosts Copper Prices
Chinese authorities have announced that China will not be allowed to export sulphuric acid from next month, with the only exception being electronic‑grade sulphuric acid. This means that neither smelter acid nor sulphur‑based acid can be exported will be able...
MCX Crude Oil Prices Headed for Weekly Loss Amid Fragile US-Iran Ceasefire; What’s the Strategy Ahead?
MCX crude oil futures jumped over 3% on Friday, opening at ₹9,200 per barrel (≈$111) as international markets reacted to supply worries in the Strait of Hormuz. Despite the rally, Brent and WTI have each fallen 11% this week, the...
Wagyu F1 Feeder Prices Settle Around 520-530c/Kg, Despite Climate of Uncertainty
Australian Wagyu feeder cattle prices have remained remarkably stable, with F1 × Angus steers trading around 520‑530 cents per kilogram despite the looming 55% tariff on beef exports to China and ongoing Middle‑East tensions. Supply‑chain surveys show higher‑grade F4‑Purebreds at 540‑570 c/kg and full‑bloods...
The Commodities Feed: Oil Supported by Ongoing Supply Risks
Oil prices extended gains for a second day as Saudi Arabia’s crude‑export capacity fell roughly 600,000 barrels per day after attacks on its energy infrastructure and a strike on the East‑West pipeline cut another 700,000 barrels. Brent hovered around $96...
Oil Prices Jump $1 as Hormuz Traffic Stalls
Oil Prices Rise $1 Amid Strait of Hormuz Disruption Both Brent and WTI crude oil prices advanced by $1 per barrel as traffic through the critical Strait of Hormuz shipping route remains nearly halted, impacting global oil supply chains.
Gold, Silver Rate Today, 10 April: Check Live Price of 24 Kt, 22 Kt, 18 Kt Gold and 10 Gm,...
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...
Dubbo Sale 9 Apr 2026: Yarding Lifts to 7700, as Restocker and Slaughter Types Soften in Price
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....
Australia Underwrites Spot‑Market Fuel for Ampol and Viva Energy Amid Iran Tensions
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 Asks Aluminum Tariff Relief After Novelis Fire Disrupts F‑150 Output
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...
German Conservatives Form New Coalition to Tackle Energy Crisis, Push for Nuclear and Gas
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...
EIA Lifts 10‑year US NGL Production Outlook by 14% and Demand Forecasts
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 Suspends Gas Sales Tax Amid US–Iran War
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,...
Peak Oil Makes Conflict Over Cheap Fuel Inevitable
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...
Libya’s Oil Steady, Prices Surge, Dinar Jumps 27%
Since the start of the US-Israeli war on Iran, Libya's oil production has stabilized at ~1.3 million barrels/day and the price has SOARED. As night follows day, the Libyan dinar APPRECIATED by 27% vs. the USD. https://t.co/5PPdIEUYSV
US‑Iran Two‑Week Ceasefire Falters as Lebanon Strikes Ignite Market Turmoil
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...
Wheat and Rice Prices Slip Below Pre‑War Levels
Food shock? Food crisis? Well, the price of the world’s most important staples for food security (wheat and rice) is now below pre-war levels. From Feb 27, wheat 🥖 is down ~1% while rice 🍚 is down ~2%. And yes,...
Goldman: 10% Gas Price Rise Boosts Inflation
Goldman on what a 10% increase in natural gas prices means for inflation > https://t.co/RDkqRBzqV2
Standard Chartered: Oil Price Correction Is Likely Overdone
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...
US Crude Exports Rise to 5 Mbpd, Still 8 Mbpd Short
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
Middle East Energy Shock Ends China’s Deflation, Prices Rise
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
Where Metals & Miners Stand Now
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...
Renewables Shift, Not Eliminate, Energy Risk
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
LNG Rerouted to Brazil as Highest Bidder Wins
LNG is going to the highest bidder. This carrier is diverted form Europe to Brazil Map form @Kpler
Shale Play Pushes Argentina Oil Output To All-Time High
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...
Saudi Arabia Holds 31 Million Barrels on Western Coast
As of today, Saudi Arabia has 31 mb of crude in storage on its Western cost. (Kpler data)
Oil Climbs Despite Unchanged Hormuz Traffic After Ceasefire
JUST IN: Oil prices are climbing as the U.S.-Iran ceasefire hasn't increased traffic through the Strait of Hormuz.
Gold Heads for Weekly Gain as Traders Weigh Iran Truce Prospects
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 Execs Resist White House Talks on Iranian Hormuz Toll
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.
Record Prompt Backwardation Drives Extreme Spot Premiums
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...
Oil Prices Rise as Gulf Tankers Remain at Standstill
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...
Fuel Prices Are Skyrocketing, But Most Of The Money Isn't Going To Gas Stations
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...
Gold & Silver Look For Direction After Ceasefire Collapse...
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...
Hidden $28 Brent Spread Signals Market Danger
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...
Ground Beef Prices Surge Over 20% YoY, Hitting Affordability
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
Oil Holds Gain After Attacks Lower Saudi Production Capacity
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...
Iran's 15 Attacks in 12 Days Cripple Oil, LNG Flows
15 attacks in 12 days by Iran disrupted global oil and LNG flows #OilMarkets #Energy #Shipping #Geopolitics #Hormuz https://t.co/ocx5vrbgxM
Europe’s Gas Market Faces a Brutal Storage Refill Season
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...
Market Watch: US Gas Futures Tumble to 17-Month Low
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...
Daily Energy Report
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...
Keir Starmer: 'I'm Fed Up' With Trump and Putin Affecting UK Energy Costs
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...
Publication of Fastmarkets’ Steel Scrap No1 Busheling, Delivered Mill Chicago Assessment on Thursday April 9, 2026
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, Apr. 9, 2026
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...
Mining Boom Just Getting Started, Says Lion Selection Group’s Hedley Widdup
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 Attacks on Crucial Saudi Pipeline and Production Facilities Slash Kingdom's Oil Output
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...