Today's Commodities Pulse
UK energy bills surge to two‑year high as Europe feels shock from Iran conflict
UK households are set to face their deepest‑unwelcome energy bill increase in two years as wholesale prices climb amid the Iran‑related war. Analysts say the conflict will push household energy costs higher for the first time across Europe.
Also developing:
By the numbers: M Battery Materials acquires graphite assets for $20M
Trump Mulls Seizing Iran's Kharg Island Oil Terminal as Oil Prices Surge to $115 a Barrel
U.S. President Donald Trump publicly floated the idea of seizing Iran’s Kharg Island oil terminal as Brent crude jumped to $115 a barrel, a move that could reshape Gulf oil flows amid ongoing strikes on regional energy infrastructure and nascent cease‑fire talks.
CNBC: Brent Oil Heads for Record Monthly Surge…
Brent crude is on track for a record‑breaking monthly surge, with prices climbing past $100 per barrel for the first time. The rally reflects tightening global supply, driven by OPEC‑plus output cuts and heightened geopolitical tensions in key producing regions....
China's Gold Premium Stays Elevated, Signaling Strong Buying
Gold Premium in #China Remains Well-Oriented. local premiums staying elevated during consolidation often reflects strong underlying buying.
Brent Slips as G7 Signals Action to Steady Volatile Oil Market
Brent crude slipped 0.5% to $112 per barrel on Monday after the Group of Seven finance ministers signaled they are ready to intervene to steady volatile energy markets. The decline followed a brief rally that had pushed Brent close to...
Why Does Chocolate Cost so Much This Easter, when Cocoa’s Price Is at a 3-Year Low?
Chocolate prices remain stubbornly high this Easter despite cocoa prices falling to roughly US$3,200 per ton in March 2025. Consumers are seeing smaller Easter eggs and premium‑priced treats, while the commodity that drives chocolate costs has dropped from a 2024...
Daily Energy Report
Energy Outlook Analytics (EOA) reports that Russian liquefied natural gas (LNG) shipments are set to hit a record high in April and May, surpassing previous peaks. Kpler data shows March exports already above the typical seasonal baseline, indicating a steady...
Attacks on Mideast Aluminum Plants Threaten Supply Crisis
Iranian drones and missiles struck the Emirates Global Aluminium plant in Abu Dhabi and Aluminium Bahrain, causing significant damage to two of the Middle East’s largest aluminum smelters. The attacks sent LME aluminum futures up 6% to $3,401 per ton...
113 Years of the Real Oil Price (WTI)
The article visualizes 113 years of CPI‑adjusted WTI oil prices, highlighting both absolute levels and growth rates. It notes that the 2008 year‑on‑year surge of 640% was the largest, surpassing the 1979‑80 increase that foreshadowed the 1980 recession. However, month‑on‑month...
Natural Gas Spike Signals Crude Oil Slide to $50
US Natural Gas' 100% 1Q Pump-Then-Dump May Guide 2026 Crude Oil - The roughly 100% 1Q rise in the front US natural gas future, and reversal to minus 18% on March 27, may lead crude oil's way in 2026, as...
US Natural Gas Floor Shifts to $3, Not $2
Is $3 the New $2 Floor for US Natural Gas? The front US natural gas future hasn't ended a quarter below $3 per million BTUs since 2Q24. Is $3 replacing $2 as the new floor? The 2026-27 winter should be a...
Germany May Need Coal-Fired Power Plants Longer: Merz
German Chancellor Friedrich Merz warned that the country may need to keep existing coal‑fired power plants online longer than the 2038 phase‑out schedule if the energy crunch persists. He stressed that abandoning the target prematurely could jeopardise the reliability of industrial...
Heating Oil Doubles Q1, Echoes 2008 Energy Crisis
Heating Oil, Distillate Surges and Price Peaks - Heating oil's 100% surge in 1Q may emphasize extreme stress and the potential for demand destruction that typically results when energy prices spike. On a weekly basis since 1986, the 4.5 ratio...
Q1 Pump‑Then‑Dump Sets Potential Peaks for Metals
Gold, Silver, Copper 1Q Pump-Then-Dump Pattern Might Define 2026 - Signs of high-price cures, common in more elastic commodities, emerged in the metals sector in 1Q. My analysis suggests pump-then-dump patterns to record highs in gold, silver and copper could...
Oil Shock Sends S&P 500 Below Anchored VWAP, Igniting Risk-Off Week
A surge in oil prices sparked a risk-off market week, driving the S&P 500 below its anchored VWAP from April 2025 lows. The technical breach highlights heightened selling pressure and a shift in market structure as traders brace for further...
Gold's 2025 Surge Signals Possible 2026 Rebound
Gold's 2025 Rally Was Prescient: Is It Hangover Time? Gold may have one main problem -- ample room for reversion. At the end of February, the metal stretched to its highest-ever vs. the Bloomberg Commodity Spot Index and its greatest premium...
Metals Likely Pump‑Then‑Dump After 2026 Peak
2026 May Mark Enduring Metals Peaks - The Bloomberg Commodity All Metals Total Return Subindex cut its 22% gain for 2026 (to the Jan. 29 high) to roughly 2% on March 27. Did the metals sector set a pump-then-dump peak,...
Pro Farmer Podcast | Corn Acres Could Top Expectations
The latest Pro Farmer podcast highlighted that U.S. corn planting acres are likely to exceed USDA’s spring acreage forecast, according to economists Spencer Langford and Lane Akre. The discussion noted stronger farmer confidence and favorable weather patterns driving the uptick....
Rising Gas Prices May Revive Slumping EV Sales
In the latest Current Climate newsletter: ⛽Can surging gas prices reverse EV sales slump? 🛢️Why the world may be on the verge of a bigger oil shock than in 1973 ⚡Investor and gubernatorial candidate Tom Steyer’s plan to cut California's energy prices ...
Iran War Triggers Global Energy Crisis and Price Shock
The Iran war is now a global energy crisis. With the Strait of Hormuz closed, Asia is scrambling for oil/LNG—driving price shocks and geopolitical shifts. I spoke with Abishur Prakash about what comes next. https://youtu.be/lyr9tnT_-yU #EnergyCrisis #IranWar #OilPrices #LNG
Oil Rises and Asia Shares Slide as Iran War Enters Fifth Week
Global oil prices jumped more than 3% on Monday, with Brent crude climbing above $115 a barrel and tracking toward its biggest monthly gain on record. The surge coincided with sharp declines in Asian equity markets, as Japan’s Nikkei 225...
Gold's Surge Signals Return of Safe‑Haven Appeal
Bull Trap or the safe heaven status is back ? Gold has been on the rise for the past few days meanwhile Geopolitical tensions & inflation fears are still on the rise. Let me share my 2 cents on what's happening &...
Crude Report: Hormuz Disruptions Put Canadian Export Crude in the Global Spotlight
In this episode Jeff Kralowitz talks with Argus senior reporter John Kordner about how the recent disruptions in the Strait of Hormuz have boosted Canadian heavy crude exports. With freight rates soaring, Canadian grades are now more competitive than Middle‑East...
XLE: Sell Oil And Buy Oil Company Shares
The Iran‑Israel conflict sparked the biggest oil‑supply shock on record, pushing crude prices up 39%. Analysts now expect prices to ease back toward roughly $80 per barrel in April, still well above pre‑war levels. This price correction is expected to...
Golden Pass LNG Hits First Production, Adding Demand to Gulf Coast Natural Gas Price Hubs
Golden Pass LNG in Texas announced its first commercial LNG cargo from Train 1. The startup adds roughly 2.5 billion cubic feet per day of feed‑gas demand to the Gulf Coast, tightening regional supply. The added demand is expected to lift the...
What Was the 1970s Oil Crisis, and Are We Heading for Something Worse?
The 1970s oil crisis, sparked by an Arab embargo, caused oil prices to quadruple and triggered a global recession. Today, the closure of the Strait of Hormuz amid the US‑Israel‑Iran conflict threatens to cut roughly 20% of world oil supply,...
From Germany to Spain: How Europe’s Biggest Economies Are Weathering the Oil and Gas Shock
Europe faces its sharpest energy shock since 2022 after Iran closed the Strait of Hormuz, cutting roughly 20% of global oil and liquid gas supplies. Benchmark oil prices have surged above €115 ($125) per barrel and EU gas prices are...
Underappreciated Aluminum Stock Surges With Metal Prices
Alcoa Corp shares jumped 10.9% to $65.10 as aluminum prices surged amid the U.S.-Iran conflict. Forward contracts rose over 100% since the war began, pushing the metal to $3,319 per metric ton. The stock is up 21.6% year‑to‑date, approaching an...
Iran War Creates Unprecedented Oil Shortage, No Spare Capacity
The Iran war has disrupted a greater share of oil supplies than any previous shock. And this time, there is virtually no spare capacity available to make up the gap. @wsj
Drillers See Triple-Digit Crude and Hit the Brakes
U.S. oil drillers are seeing Brent above $100 a barrel and WTI over $90, yet most remain reluctant to expand output. The Dallas Fed Energy Survey shows only 21% intend to add significant wells, as firms focus on repairing balance...
Oil Rises, Asian Markets Sink as Middle East War Broadens
Oil prices surged on Monday as Brent crude briefly topped $117 a barrel and U.S. crude hovered around $102, driven by escalating conflict in the Middle East. Iran’s attacks on aluminium smelters in Bahrain and the UAE pushed metal prices...
Fastmarkets Proposes Changes to Quality, Tonnage Specifications for Battery-Grade Cif CJK Lithium Salts Assessments
Fastmarkets has issued a consultation proposing new quality, tonnage, payment and shelf‑life specifications for its benchmark battery‑grade lithium‑hydroxide and lithium‑carbonate assessments in the China, Japan and Korea (CJK) market. The draft raises the minimum shipment size from 5 to 18...
Grains Report 03/30/2026
The USDA’s March 1 quarterly report shows U.S. corn stockpiles at 9.1 million bushels, soybeans at 2.1 million and wheat at 1.3 million, while planting progress reaches 94.5 million acres of corn and 85.5 million acres of soybeans. President Trump announced a two‑week pause in...
Indian Govt Expects to Meet 39 Million Tonnes of Kharif 2026 Fertilizer Demand
The Indian government says fertilizer stocks have risen to over 18 million tonnes, up from 14.7 mt a year earlier, positioning the country to meet the 39 mt kharif 2026 demand. Gas supplies to urea plants have improved to roughly 80 percent of needs,...
Gold’s Bull Run Could Be Nearing Its Finish Line, Says UBS Strategist
UBS precious‑metals strategist Joni Teves warns that gold’s long‑running rally may be winding down as market pricing assumes no further Federal Reserve rate hikes this year. A flat‑rate outlook removes a key driver of higher gold prices, while persistent geopolitical...
Brent Bulls Trim Positions Amid Hints of Negotiations
Wartime Brent bulls only slightly deflected by talk about talks Investors trimmed bullish positions in Brent slightly early last week after the U.S. government paused plans to attack Iran’s electricity generation plants and announced it was making progress in negotiations to...
Oil Slumps,
Sure, it looks bad in Oil.. But we are pretty far from 2021/2022 in Nat Gas, food, electricity etc.. Still a world apart..
Middle East Jet Fuel Gap Nears Critical Threshold
Our coverage from last week on this approaching milestone for global aviation: The Middle East jet fuel air gap is about to reach the tap https://t.co/2s6NEPkGYA (via @theaircurrent)
Renewable Growth Drives Lower Electricity Prices, Not Higher
Just another reminder that, like worldwide, increases in WindWaterSolar in the U.S. correlate with lower, not higher, electricity prices. Please ignore all the spam claims that renewables increase prices. It is fossil fuels and nuclear that increase electricity prices. https://t.co/Lra772hw38
Hormuz Closure Wipes Out Qatar’s Oil and Product Exports
We've lost a LOT of Gulf crude oil production capacity to shut-ins following the closure of the Strait of Hormuz But we've also lost refined products, condensates, and natural gas liquids Here's Qatar, which normally exports ~1.5 MMbpd of which only 1/3...
WTI Hits $100+ for First Time Since 2022
For the first time since the war started, WTI oil has settled above the $100-a-barrel threshold. It’s the first triple-digit settlement since 2022, when it closed above that level for >80 trading days. To match that, WTI would need to remain >$100...
LithiumIonic Secures $1,000 Spodumene Floor Deal
An exclamation point to this insightful color @D_Jimenez_Sch was @LithiumIonic signing spodumene offtakes with Yahua and Grand Chen Resouces on the heels of this Fastmarkets Shanghai conference last week: $1,000 price floor, no ceiling, no discount and $20M...
Renewables Linked to Lower Prices; Fossil & Nuclear Drive Up
Of course this guy is spewing nonsense. More fossil fuels and nuclear both correlate with higher prices worldwide. Only wind-water-solar correlates with lower prices. https://t.co/288jwtUdqr
Germany Warns EU Methane Rules Could Stall LNG Diversification
Germany warned the European Union’s rules to curb methane emissions from oil and gas imports risk impeding crucial LNG purchases just as the country seeks to diversify suppliers and cushion the Middle East war’s impact on energy prices https://t.co/qkRuwIBPvI
U.S. Corn Inspections Beat Forecasts; Soybeans Lag, China Leads Demand
🇺🇸Last week's U.S. corn export inspections topped all trade expectations, but soybeans fell slightly below. 46% of the inspected soybean cargoes were destined for China. https://t.co/qtmgF00LfJ
Gold Falls Despite Inflation; Real Rates Drive Moves
Gold can drop hard while inflation headlines stay hot. That’s not ‘gold is broken’. That’s real rates and margin calls. Correlations don’t die. They just take vacations. https://t.co/LB3g5NQWP9
Corn Leads USDA Export Inspections, Soybeans Follow
USDA inspections for export in the week ending Mar. 26 (mln bu); #corn 70.4, grain sorghum 7.1, #soybeans 21.5, #wheat 13.4 #oatt
Commodities Now Trading Across Daily, Weekly, Monthly Timeframes
Pick your timeframe Copper, natural gas, and oil (Brent / WTI) markets are now trading across daily, weekly, and monthly Commodities have entered the chat ↓ https://t.co/dxPGVrURQL
US Diesel Prices Soar Above $190 on Tight Margins
Brent Crude: $114/bbl US diesel crack spread (refining margin): $77/bbl US diesel wholesale market price > $190 per barrel
Gold Correction Won't Dent Earnings; War May Spark Rally
New audio podcast with bullion dealer @MoneyMetals... We discuss the potential impacts of the war, the recent correction in gold and why it won’t affect earnings that much, and what could lead the next leg higher in #gold stocks. Begins at the...
Brent May Futures Expire, June Takes Over at $108
A reminder that the Brent May futures contract, currently trading ~$115 a barrel, expires tomorrow. From Wednesday, the front-month futures would be the Brent June contract, currently trading at ~$108 a barrel. Liquidity has already moved from May to...