Stronger for Longer Pricing Sets up Tungsten Juniors for Development
Tungsten prices have surged to $3,185 per tonne, up about 350% year‑to‑date, as demand from defence, industrial and strategic stockpiling outpaces a limited new‑mine pipeline. Canaccord Genuity’s seventh Junior Book spotlights five emerging explorers—American Tungsten & Antimony, Viking Mines, Resolution Minerals, Apollo Minerals and Tungsten Mining—each advancing permits, mill refurbishments or feasibility studies across the U.S., France and Australia. Analysts project a 47% demand increase to 2035, creating a structural deficit that should keep prices elevated. The high‑price environment is expected to accelerate development and attract financing for these juniors.
Crude Oil Surges Despite U.S. Extension Of Two-Week Ceasefire
Crude oil prices surged on Wednesday, with WTI June futures climbing $3.54 to $93.21 a barrel, a 3.95% gain, despite a U.S.‑declared two‑week cease‑fire in the U.S.–Iran conflict. The rally reflects lingering supply‑disruption fears as the Strait of Hormuz remains...
Extra Credit
Loomis Sayles’ Q1 outlook highlights rising geopolitical risk from the U.S.–Israel‑Iran conflict, which lifted energy prices and pushed the 10‑year Treasury yield from 4.17% to 4.32%. Despite these headwinds, corporate fundamentals remain solid, and earnings growth is seen as the primary...
Breakbulk26: Loss of Persian Gulf Oil Supplies Difficult to Replace Quickly
At the Breakbulk26 conference, S&P Global Energy’s Amy Groeschel warned that the war in the Middle East could trap roughly 16 million barrels of crude and refined product in the Strait of Hormuz each day, a volume that cannot be replaced quickly....
Adamas Launches Western CIF Price Forecasts
Adamas Intelligence has launched Western CIF price forecasts for nine rare‑earth oxides, including NdPr, Nd, Pr, Sm, Gd, Tb, Dy, Lu and Y. The forecasts aim to fill a data vacuum as virtually no separated oxides are produced or traded...
Oil Prices Rise Despite US-Iran Ceasefire Extension
Oil prices edged higher on Wednesday as Brent crude approached $100 a barrel and U.S. West Texas Intermediate rose above $90, despite the United States extending a cease‑fire with Iran. The extension has done little to ease market nerves, with...
Edison: Qatar to Extend Gas Force Majeure, U.S. LNG Filling Gap
Italian utility Edison warned that Qatar may keep its LNG force majeure in place beyond mid‑June, after the Gulf supplier cancelled ten cargoes totaling 1.4 billion cubic metres. To bridge the shortfall, Edison secured seven cargoes from U.S. exporters, effectively substituting...
U.S. Gas Exports Will Boom Again in 2027
The U.S. Department of Energy’s Short‑Term Energy Outlook projects a resurgence in U.S. liquefied natural gas (LNG) exports as five new LNG projects come online by the end of 2027. Net natural‑gas exports are expected to climb 18 % to 18.7 billion...
Softs Report 04/22/2026
The Softs Report for April 22 2026 shows cotton futures climbing on dry conditions in key growing regions, while global cotton output is projected to decline due to reduced planted area and yields. Florida orange juice (FCOJ) contracts slipped as speculative selling...
Gold Price Halts Two-Day Decline with US-Iran Ceasefire Extended
Gold prices halted a two‑day decline on Wednesday, stabilising above $4,700 an ounce after President Donald Trump announced an extension of the US‑Iran ceasefire. The pause follows more than 10% losses since the conflict began, as investors reassess geopolitical risk...
India’s Urea Stock at 4-Year Low Ahead of Kharif Sowing Season
India’s urea opening stock as of April 1 2026 slipped to 54.22 lakh tonnes, the lowest level in four years, raising concerns ahead of the kharif sowing season. The government has been ramping up imports since September 2025, but the season’s requirement of roughly...
India Snaps Up Cheaper Spot LNG Cargoes
India has resumed buying spot LNG cargoes as Asian benchmark prices slipped to the lowest level in a month, driven by demand destruction and optimism about a Middle East conflict resolution. Major importers including Bharat Petroleum Corporation Ltd, Gail India...
5 Fuel Shocks, 5 Very Different Endings: What History Tells Us About This One
Jet fuel prices have doubled in eight weeks, creating a severe cost shock for airlines that see fuel as 20‑30% of expenses. The surge is linked to geopolitical tensions, especially the war in Iran, and looming supply constraints in Europe...
The AI Economy Runs on Helium. The Iran War Just Created a $650 Billion Problem
Moody’s Ratings warns that the Iran‑Israel conflict has disrupted Qatar’s Ras Laffan helium plant, creating a $650 billion supply‑chain risk for the AI economy. Helium, essential for wafer cooling, carrier gas and leak detection in semiconductor fabs, has no industrial substitute. The...
India Decides to Import 2.5 Million Tonnes of Urea at $935 & $959/Tonne
India’s import agency Indian Potash (IPL) approved the purchase of 2.5 million tonnes of urea at $935 per tonne for the West Coast and $959 per tonne for the East Coast. The contract was awarded to five firms—Aditya Birla Global Trading,...
Waha Locked in Negative Territory Amid Natural Gas Market Fracture
Natural‑gas spot prices slipped on Tuesday as milder Midwest weather reduced demand, while futures remained above cash levels. Henry Hub cash prices have traded at a premium to NYMEX futures since late February, underscoring a broader market shift. In contrast,...
Carriers’ Handling of Fuel Surcharges Agitates Small, Midsize Trans-Pac Shippers
Small and midsize trans‑Pacific shippers are raising concerns over ocean carriers’ handling of bunker‑fuel surcharges. Many carriers are insisting on open‑ended emergency surcharge clauses that lack clear exit triggers, making it hard for shippers to compare pricing across lines. The...
Russia to Suspend Kazakh Oil Flows Through Key Pipeline Supplying Berlin
Russia announced it will halt Kazakhstan's crude oil shipments through the Druzhba‑Baltic pipeline that feeds Germany’s refineries, citing recent EU sanctions on Moscow. The pipeline carries roughly 1 million barrels per day (≈ 160,000 bpd to Germany), representing about 10% of Berlin’s oil...
Copper Price: Goldman Maintains Year-End Forecast, Traxys Sees $15,000
Copper prices steadied above $13,200 a tonne as supply concerns from the Middle East war and a looming sulphuric acid export ban by China weigh on the market. Goldman Sachs kept its 2024 price target at $12,650 per tonne despite...
Fastmarkets Proposes to Change Chinese UCO Timestamps
Fastmarkets announced it will shift the publication time for its daily used cooking oil (UCO) price assessments from 4:30 pm London time to 4:30 pm Singapore time, effective May 20 2026. The change applies to both the flexi‑tank (AG‑UCO‑0015) and bulk (AG‑UCO‑0014) FOB China...
Strait of Hormuz Disruption and the Long Tail of Higher Oil Prices
The war in Iran has triggered the most severe physical disruption to global energy since the 1970s, according to IEA chief Fatih Birol. Damage to Middle‑East infrastructure and a choke‑point in the Strait of Hormuz have halted oil flows and filled...
European HVO Class IV-II Spread at an All-Time High
The northwest European HVO Class IV‑II spread surged to a record $450 per tonne on 21 April, up from $250 a month earlier. The jump reflects a $95/m³ premium for Class IV versus a $20/m³ rise for Class II, driven by scarce Class IV offers...
Hoarding Is Driving Energy Prices Higher Everywhere
Global oil markets are tightening as wealthy nations—China, Japan, Europe, and the United States—scramble to secure supplies amid the Middle East conflict. Their aggressive purchasing and export restrictions are pushing energy prices higher worldwide and creating shortages in less affluent...
Cotton Prices Rise In India Amid Supply Concerns
India's benchmark Shankar‑6 cotton surged to Rs 60,500 ($645) per candy, an 8.5% rise from a month earlier, as domestic output is projected at 291 lakh bales—slightly below last year—while textile mills forecast demand of 312 lakh bales. The price climb is amplified...
VLSFO Premiums up in UAE's Fujairah as Supply Dwindles
Very‑low‑sulphur fuel oil (VLSFO) premiums in Fujairah surged to over $50 per tonne on 21 April, up from $15 the week before, as local producers face an acute shortage of low‑sulphur feedstock. The shortage stems from US‑Iran blockades in the Strait...
EU Publishes Energy Crisis Plans
The European Commission unveiled a package of measures to tackle a looming fossil‑energy crisis intensified by the Middle East war, which has forced the EU to spend an extra €24 bn (about $26 bn) on imports. The plan emphasizes tighter coordination among...
Oil Prices Rise After Reports of Container Ships in Hormuz Being Hit by Gunfire
Oil prices surged past $100 a barrel on Wednesday as reports emerged that at least three container ships were struck by gunfire in the Strait of Hormuz. Brent crude rose 1.6% to $100.07 per barrel, while WTI gained 1.7% to...
Malaysian Fuel Prices April 23-29, 2026 – All Reduced; Diesel to RM5.12, RON95 to RM3.87, RON97 to RM4.85
Malaysia’s Ministry of Finance announced a further reduction in fuel prices for the week of April 23‑29, 2026. Diesel (B10/B20) falls 85 sen to RM5.12 per litre (≈$1.14), while unsubsidised RON95 and RON97 drop to RM3.87 (≈$0.86) and RM4.85 (≈$1.08)...
UK Government to Implement Measures to Decouple Electricity Prices From Gas Market
The UK government announced a package of measures to sever electricity prices from volatile gas markets, highlighted by raising the renewables windfall tax (Electricity Generator Levy) from 45% to 55% effective July 1, 2026. A voluntary long‑term wholesale Contracts for Difference (WCfD)...
Hochschild Rallies as Gold Price Surge Lifts Outlook
Hochschild Mining reported first‑quarter production of 75,600 gold‑equivalent ounces, surpassing analysts’ forecasts. The company’s average realized gold price jumped to $4,471 per ounce, a near‑40% increase from a year earlier, driving cash and equivalents to $412 million and net cash to...
Hochschild Rallies as Gold Price Surge Lifts Outlook
Hochschild Mining posted a strong first‑quarter, producing 75,600 gold‑equivalent ounces, ahead of the 69,200‑ounce consensus. Realized gold prices jumped 40% to $4,471 per ounce, lifting cash and equivalents to about $412 million and turning net cash positive at $95 million versus $23 million...
Iran War Fossil Fuel Shock Drives Inflation to 3.3 per Cent
UK consumer price inflation jumped to 3.3% in March, the fastest rise in fuel costs in over three years. The surge is directly linked to the Iran‑related disruption of oil and gas supplies, as the conflict threatens the Strait of...
Gold Rebounds After US-Iran Ceasefire Extension
Gold rebounded 0.8% on Wednesday, trading at $4,757 an ounce after a 2% plunge the day before. The rally was sparked by President Trump’s unilateral extension of the US‑Iran ceasefire, robust US retail‑sales data, and hawkish remarks from Federal Reserve...
Commodity Traders Post Windfall Gains Amid Iran Conflict-Driven Market Turmoil
Commodity trading houses are logging multi‑billion‑dollar gains as the Iran conflict fuels extreme volatility in oil, copper and gold markets. Vitol alone is estimated to have earned about $2 bn in the first quarter, while Trafigura, Gunvor and Mercuria report record‑level...
Gold and Silver Surge as Hochschild Helps London’s Mining Stocks Shine
Hochschild Mining reported a near‑40% year‑on‑year jump in its average realizable gold price to $4,471 per ounce, propelling its FTSE 250 shares up more than 2%. The miner also disclosed an average silver price of $89.8 per ounce, more than double...
South32 Pumps Aluminium Output to Seize High Prices
South32 is ramping up aluminium production to profit from a four‑year high LME price of $3,557 per tonne, driven by Middle East‑related supply disruptions. Its Hillside smelter in South Africa is operating near technical limits but still posted a 3%...
Competition Keeping Lamb Prices High on Quality as Winter Beckons
Australian lamb prices remain firm despite a dip in market indicators, with quality lambs in Hamilton fetching $12‑$13 AUD/kg (about $8‑$9 USD/kg). Producers such as Coby Brewis sold 259 lambs at an average $340 AUD (~$224 USD) per head, while store lambs traded around...
Explainer: How the Iran War Oil and Gas Supply Shock Compares with Past Disruptions
The U.S.-Israeli war on Iran and the closure of the Strait of Hormuz have created the largest daily oil‑supply shock on record, wiping out more than 12 million barrels per day – about 11.5% of global demand. The disruption also slashed...
War in Iran 'Has Put up Our Fuel Bill by £100,000'
The US‑Iran war has driven UK diesel up 47.8 p per litre, adding roughly £100,000 ($125,000) to Wrings Transport’s fuel bill and pushing March costs £45,000 over budget. The haulier’s fuel surcharge passes the surge to retailers, contributing to a 3.3 %...
Diet Coke Runs Dry in Indian Cities as Iran War Triggers Aluminium Can Shortage
Diet Coke is running out of stock in major Indian cities as the Iran war has choked the supply of aluminium beverage cans, the primary packaging for the diet soda. Importing cans from the UAE, Sri Lanka and Southeast Asia now...
Iran Crisis: A Moment of Reckoning for European Aviation
The Iran‑related Middle East crisis has triggered a sharp rise in European airline ticket prices, with long‑haul fares climbing about $97 since the conflict began. The spike exposes the EU’s heavy reliance on imported fossil jet fuel—over 95% of which...
Fed Govt to Underwrite CSBP, Incitec Fertiliser Imports
The Australian federal government announced a partnership with CSBP and Incitec Pivot to underwrite fertilizer shipments, using Export Finance Australia’s Strategic Reserve powers. The deal follows similar arrangements with fuel firms and aims to lock in cargoes amid global supply...
Incitec Updates Supply Outlook Amid Middle East Fall-Out
Incitec Pivot, now part of ASX‑listed Ridley Corp, is offsetting Middle‑East fertilizer disruptions by sourcing urea from Indonesia and other regions, securing two cargoes in the Strait of Hormuz and arranging up to 250,000 tonnes from PT Pupuk Indonesia for 2024. The company...
Surging Gas Prices Will Cost Americans $857 More in 2026
The Iran war has pushed global oil prices up more than 30%, driving U.S. gasoline costs up $857 per driver in 2026. Retail data show a 15.5% surge in gas‑station sales in March, the biggest jump since the Census began...
Tiny Pacific Nations Face Tough Choices on Food, Fuel Posed by Iran War
Pacific island nations are feeling the fallout of the U.S.-Israeli war with Iran, which has choked the Strait of Hormuz and pushed diesel, petrol and kerosene prices up to 70% in Papua New Guinea. The region, heavily dependent on imported diesel...
It's Not Your Imagination, Diesel Prices Are Going Up Faster Than Gas Or Oil
Diesel prices in the United States have surged to an average $5.55 per gallon in April 2026, outpacing gasoline’s $4.10 per gallon and creating a $1.45 gap. Since the start of 2026 diesel has risen roughly $2.05 per gallon, nearly double...
Urea Squeeze Shows Signs of Easing as North Stays Dry
Urea supplies to southeastern Australia are easing as new cargoes from Brunei, Indonesia, Nigeria and Oman arrive by mid‑May, pulling prices down from a $1,600‑per‑tonne peak to around $1,400. Early winter‑crop planting is underway on South Australia’s Eyre Peninsula, with...
Has Global Gold Production Really Peaked — Or Is a New Supply Cycle Beginning?
Gold prices have surged above $5,500 per ounce in 2026 while mine production has barely risen, creating a structural supply gap. Global mine output grew from 3,516 metric tons in 2016 to a record 3,672 metric tons in 2025, far short of...
The Strait of Hormuz Closure Forces a Choice: Ration Oil Now or Pay a Steep Price Later
The Strait of Hormuz closure after the U.S. counter‑blockade has removed roughly 13% of global oil supply, pushing Brent crude to about $95 a barrel and draining strategic inventories. Daily production outages now exceed 13 million barrels per day, with an...
Oil Holds Advance as Trump Extends Truce But Maintains Blockade
Oil prices continued their two‑day rally after President Donald Trump announced an extension of the cease‑fire with Iran, even as diplomatic talks collapsed. Brent crude climbed almost 9% in two sessions, settling just under $99 a barrel, while U.S. West...