Steel Output Surges While Scrap Prices Languish
U.S. steel production jumped 10.3% year‑over‑year in mid‑May 2026, pushing melt‑shop utilization to 82.2%. Despite the output surge, recycled steel prices remained flat, with No. 1 HMS down $8 per ton and No. 2 shredded scrap down $2 per ton. Hot‑rolled coil prices rose, reaching $1,090 per ton after Nucor’s price hike. Export demand for U.S. scrap stays weak, especially in Asian markets, keeping overall scrap pricing subdued.
Crude Prices Plunge as More Tankers Traverse Strait
Crude oil benchmarks slumped on Wednesday as a surge of tankers cleared the Strait of Hormuz, lifting concerns over supply constraints. The increased flow signaled that more Iranian and global crude could reach markets, prompting a price drop of roughly...
Market Watch: Nymex Eases Amid Moderating Weather Forecasts
June natural‑gas futures on the NYMEX slipped 11 cents to $3.004 per million British thermal units, reflecting a softening weather outlook. Gelber & Associates noted that while export demand has rebounded sharply, the domestic market lost the early‑week heat support that...
Aussie Stike to Worsen LNG Crisis
Australian union leaders have announced a two‑week strike at a major LNG export facility starting May 27, 2026. The action comes as global LNG supplies are already constrained by the ongoing Iran‑Israel conflict and the closure of the Strait of...
Hormuz Crisis Shows Europe More Exposed to Gas Price Shocks than Before Ukraine War, Study Finds
A new study by researchers from Vienna University of Technology, Oxford, NTNU and Paris Dauphine finds that Europe’s diversification away from Russian gas has left the bloc more vulnerable to gas‑price shocks. The closure of the Strait of Hormuz has pushed...
USA EIA Lowers Henry Hub Price Forecast for 2026, 2027
The U.S. Energy Information Administration (EIA) reduced its Henry Hub spot price outlook, projecting an average of $3.50 per MMBtu in 2026 and $3.18 in 2027, down from its April forecasts of $3.67 and $3.59 respectively. The revised STEO also...
Natural Gas Futures Tumble as Production Revision, Cooler Forecasts Challenge Rally
Natural‑gas futures slipped on Wednesday as cooler weather trimmed heating demand and a sharp upward revision to Lower‑48 production added supply pressure. The June contract fell amid elevated storage levels that blunted price support, even as geopolitical tension over Iran...
Kotak Warns of Massive Fuel Under-Recoveries Despite Recent ₹3/Litre Price Hike
Kotak Securities warns Indian state‑run oil marketers may need additional fuel price hikes as refiners still face large under‑recoveries despite a recent ₹3 per litre ($0.036) increase. At a delivered crude price of about $120 per barrel, the implied burden...
Why Is Oil Moving Lower Today?
Oil prices slipped as markets processed U.S.-Iran diplomatic signals and mixed U.S. economic data. President Trump’s remarks lowered the immediate strike risk but left a geopolitical premium, while IEA data showed global supply fell 1.8 million barrels per day in April,...
The Iran War Is Destroying Oil Demand. Could It Also Spark a Shift to Clean Energy?
The Iran‑War‑triggered oil shock has pushed U.S. gasoline above $4.50 per gallon, a 40% jump since February, prompting 44% of adults to curb driving and turn to public transit, rideshares and electric‑hybrid vehicles. The International Energy Agency now projects a...
Surging Fuel Costs Risk Creating New Split in the Eurozone
Oil prices surged from about $70 to $110 a barrel after the US‑Israeli strike on Iran, pushing fuel costs sharply higher across the eurozone. A 50‑litre petrol tank now costs €5‑13 ($5‑$14) more in Spain and €13.5 ($15) in Germany,...
Citi Bull Case Brent Hitting $150 Near Term as Oil Markets Under-Price Disruption Risk
Citi projects Brent crude climbing to $120 per barrel in the near term, citing that markets are under‑pricing the risk of a prolonged Hormuz disruption. Its bull‑case scenario pushes Brent to $150 if the Strait of Hormuz reopens only gradually...
Jeff Currie Sees Gold Price Pullback Before $10,000 Run
Veteran commodities strategist Jeff Currie, now with Abaxx Markets and Carlyle, says gold will likely correct to around $4,000 per ounce before rallying toward $10,000. He has been short gold since March, citing geopolitical fallout from the Iran war and...
Natural Gas Spot Prices, May 19, 2026
Energy Intelligence’s May 19, 2026 briefing notes that U.S. natural‑gas futures surged to an 11‑week high as an early‑summer heat wave lifts demand and war‑driven oil price spikes spur associated‑gas production. The NGSA forecasts record‑setting summer supply and demand balances, while two...
Cattle Futures Higher Ahead of Friday’s On Feed Report
Live cattle futures edged higher on Tuesday, with June contracts gaining $1.17 to $254.55 and August contracts up $0.10 to $247.25 as traders await the USDA Cattle on Feed report on Friday. Feeder cattle rallied sharply, with August and September...
CBOT Wheat Rises as Drought Knocks US Crop Rating to 30-Year Low
The USDA cut its condition rating for U.S. winter wheat to a 30‑year low, with only 27% of the crop deemed good‑to‑excellent. The downgrade lifted CBOT July soft red winter wheat to $6.67 per bushel, while soybean and corn futures...
BIR: Turkish Steel Buying Sparks Global Ferrous Scrap Rally
Turkey’s steel mills snapped up more than 30 cargoes in late March, sending deep‑sea ferrous scrap prices up about $25 per tonne. The surge lifted U.S. export prices and reinforced European scrap markets despite lingering demand softness. Global recycled‑steel consumption...
Gold, Silver Rates Today: Comex Gold Fell $91/Oz; Silver Down $4 on Inflation Worries, Firm US Dollar
Gold and silver prices fell on May 19 as rising crude oil and a firmer U.S. dollar pressured safe‑haven assets. On the COMEX, gold dropped $91 to $4,467 per ounce while silver slipped $4.1 to $73.34, marking a fourth straight...
'Point of No Return': A Research Firm Says the Oil Market Is Headed for a Dire Turning Point by Early...
HFI Research warns that if the Strait of Hormuz remains closed into the first week of June, the oil market could enter a "real panic" as global inventories approach rock‑bottom levels. The firm notes that U.S. crude stocks have already...
Next Gas Price Spike May Come Just Before Memorial Day
GasBuddy warned that U.S. gasoline prices could spike again just before Memorial Day, as geopolitical tensions revive after a stalled U.S.-China summit on Iran. The national average sits at $4.47 per gallon, up 45.2 cents from a month ago and...
Commodity Radar: Aluminium Rally Gathers Pace as Middle East Tensions Squeeze Supplies. Is 45% One-Year Rally Sustainable?
Aluminium prices have surged amid heightened Middle East tensions that have choked Persian Gulf shipping routes. On May 19, MCX futures rose 0.4% to Rs 382.85 per kg (about $4.60), while the LME posted a 2.2% monthly gain, pushing the one‑year rally...
What’s Driving Scrap Steel Prices Right Now | Fast Forward Market Briefing Transcript
Scrap steel prices are rising globally, but the gains are driven mainly by cost‑push factors rather than stronger demand. Higher oil, bunker fuel and freight costs linked to the Middle East conflict have increased landed scrap costs, especially for import‑heavy...
Germany’s Electricity Market in Q1 2026: More Renewables, Lower Wholesale Prices – Net Exporter Again for the First Time Since...
Germany’s power market in Q1 2026 saw renewables generate 52.8% of electricity, with offshore wind reaching a record 9.7 TWh. Total generation rose 7% to 126 TWh, while the day‑ahead wholesale price fell 8.7% to €102.17 per MWh (about $112/MWh), below the EU average...
Americans’ AI Hate Wave Might Just Be Gathering Steam: Data Centers Could Hike Power Costs in some States over 50%...
The share of U.S. electricity used by data centers more than doubled from 1.9% in 2018 to 4.4% in 2023, and analysts project it could reach as high as 17% by 2030. This surge could push wholesale power prices up...
EU Braces for Fertiliser Squeeze Triggered by Iran War
The European Union is preparing for a sharp fertilizer shortage as the war involving Iran disrupts key raw‑material exports. Iran accounts for roughly one‑fifth of the EU’s nitrogen‑fertiliser imports, and the conflict has already pushed prices up 30‑40 percent. EU...
The Commodities Feed: Supply Worries Remain as US Extends Russian Oil Waiver
The United States extended a temporary waiver allowing Russian oil floating at sea to be sold until June 17, aiming to steady markets amid heightened Middle East supply disruptions. Oil prices continued to swing within a $6‑per‑barrel range as Iran‑related headlines...
Oil Prices Fall as Trump Postpones Iran Strike, Easing Supply Disruption Fears
Oil prices slipped on Tuesday after President Donald Trump announced a delay to a planned strike on Iran, calming concerns of a supply shock in the Gulf. Brent July futures fell more than 2% to $109.15 a barrel, while WTI...
East Coast Power Surges as Heat Spurs Emergency Grid Alert
Wholesale power prices on the U.S. East Coast spiked as an intense heat wave hit the region on Tuesday. PJM Interconnection, the grid operator spanning Washington to Chicago, issued a maximum‑generation emergency and load‑management alert, urging generators to prepare for...
The Oil Market Is Reaching a ‘Tipping Point’ that Could Create Problems for Stocks, According to This Wall Street Legend
Wall Street veteran Roger Altman warned that a rapid rise in oil prices could spark a second decade‑long inflation shock, threatening the equity market’s recent resilience. Brent crude jumped 1.4% to over $110 a barrel and WTI rose 1.3% to...
Crude Oil Soars As U.S. Delays Responding To Iran's Peace Plan
Crude oil prices jumped to $108.69 a barrel, a 3.1% rise, as the United States hesitates to act on Iran's latest peace proposal. The Strait of Hormuz remains shut, and a U.S. naval blockade continues, limiting oil flow from Arab...
IEA: Global LPG Markets Struggle to Replace Disrupted Supply
The International Energy Agency reports that the disruption of Gulf LPG shipments through the Strait of Hormuz has slashed exports from roughly 1.5 million barrels per day in 2025 to just 270,000 barrels per day in April 2026. The United States...
The Iran War Could Trigger a Global Fertilizer Shock
The Iran‑U.S. conflict has halted a sizable share of fertilizer exports from the Persian Gulf, cutting off roughly 36% of global urea, 29% of anhydrous ammonia, and significant portions of phosphate fertilizers. The disruption also curtails 20% of the world’s...
Morningstar DBRS Posts Episode 11 of Clarity in Credit Podcast Series: Middle East Conflict and the Uneven Effects on Energy...
Morningstar DBRS’s Clarity in Credit podcast examines how the Middle East conflict is straining Asian energy markets. Roughly one‑fifth of global crude and LNG flow through the Strait of Hormuz, with 83 % destined for Asian buyers, creating both price spikes...
Official: Report that US Has Agreed to Lift Oil Sanctions While Talks Unfold, Are False:
A report that the United States had agreed to lift oil sanctions was quickly denied by a U.S. official, reversing a sharp sell‑off in crude. The clarification sent oil prices up about 2%, trading near $103 after briefly dipping to...
US LNG Demand Reshapes Natural Gas Storage Indicators as Henry Hub Nears $3
U.S. natural‑gas storage saw a 92 Bcf injection for the week ending May 15, keeping the overall surplus near 140 Bcf for a third straight week. LNG export flows to Lower 48 liquefaction plants rose to 18.1 Bcf/d, underscoring a structural shift toward export‑driven demand....
Ruto Convenes Crisis Meeting over High Fuel Prices
President William Ruto convened an emergency meeting with energy, treasury, transport and interior ministers alongside oil marketers and transport leaders to address Kenya's soaring fuel prices. The government has already deployed a roughly $80 million stabilization fund and cut fuel VAT...
Higher Aluminum Prices Are Powering One Former Dow Component. Here's How to Buy for Less
Alcoa is capitalizing on a four‑year high in LME aluminum prices, prompting a buy‑write (covered‑call) trade that lets investors acquire shares at a reduced net cost. The June $70 buy‑write proposes buying at $62.50 and selling a $70 call for...
Time Is Not on Iran’s Side – No Deal – No Regime Is Close. The Corn & Ethanol Report 05/18/2026
The latest Commitment of Traders report shows funds shedding positions in most ag markets while remaining heavily long in corn, with a net long of roughly 299,000 contracts. Corn futures have slipped below $4.70 per bushel and are projected to...
‘This Is Bad’: Strategists See European Oil Shortages Within Weeks as Inventories Are Depleted
Strategists warn that Europe could confront physical oil shortages as early as the end of May, driven by rapidly depleting global inventories. Even a swift reopening of the Strait of Hormuz would entail a 52‑day lag before additional barrels reach...
Oil Climbs Above $110 After Gulf Drone Attacks Raise Supply Fears
Oil prices surged above $110 per barrel after drone attacks on the UAE nuclear plant and Saudi Arabia raised Gulf supply concerns. Brent climbed to $110.91 and WTI to $107.42, extending weekly gains past 7 percent. The rally was fueled...
Silver Prices Tumble Rs 35,000/Kg in Just 4 Days. Should Investors Buy This Dip?
India’s central government raised the import duty on gold and silver to 15% from 9%, sending MCX silver futures down ₹35,300 (about $425) in four trading sessions to ₹2.66 lakh per kilogram (≈ $3,200). The metal, which peaked at a record ₹4.39 lakh...
Should Petrol, Diesel Prices Go up by Rs 25 per Litre? Oil Companies Are Staring at Rs 1,380 Crore Daily...
Indian oil‑marketing companies (IOCL, BPCL, HPCL) are losing roughly Rs 1,380 crore ($166 million) each day after a modest Rs 3 per litre price hike, still facing a Rs 25 per litre under‑recovery on blended fuels. Nomura estimates integrated margins are now negative – $19...
Investors Take Profits From Platinum but Tailwinds Persist
The World Platinum Investment Council reported an oversupply of platinum in Q1, driven by an 18% production surge in South Africa, but expects a fourth straight annual deficit, with a 297,000‑ounce shortfall projected for 2026. Investor redemptions are pulling roughly...
Feedgrain Focus: Promising Forecast Sends Prices South
Australian grain markets slipped as a broad rain forecast softened prices across southern and eastern regions, while the Australian dollar lingered near 72 US cents, prompting buyers to adopt a more cautious pricing stance. Wheat free‑on‑truck (FOT) to Brisbane is...
Goldman Says Central Bank Gold-Buying Stronger than Thought, to Reaccelerate
Goldman Sachs revised its model for sovereign gold purchases after discovering that official trade data missed outflows from London vaults starting in August 2025. The updated nowcast shows central banks buying about 50 tonnes of gold in March, far above the previous...
National Gas Prices Near Record High
U.S. gasoline prices are climbing toward record highs as Brent crude settled at $109 a barrel, a 10% weekly rise driven by the ongoing Iran‑Houthi conflict that has choked 20% of global oil flow through the Strait of Hormuz. Futures...
Mint Explainer | Why Power Prices on Indian Exchanges Are Crashing to Zero Despite Record Demand
India’s power market saw real‑time electricity prices on the Indian Energy Exchange drop to zero on May 1 and again on May 15, driven by a surge in daytime solar generation and weak demand. The zero‑price spikes occurred during the mid‑afternoon window...
IGL Hikes CNG Price Again; Rate in Delhi Crosses ₹80-Mark
Indraprastha Gas Limited (IGL) lifted Delhi's compressed natural gas (CNG) price to ₹80.09 per kilogram (about $0.96), while Noida and Ghaziabad now pay ₹88.70 per kilogram (≈$1.07). This follows a ₹2/kg hike on May 15 and coincides with a broader fuel...
Global Oil Stockpiles Could Hit Record Lows if Strait of Hormuz Remains Closed
Global oil inventories are sliding toward record lows as the Strait of Hormuz remains shut, with UBS forecasting stockpiles of 7.6 billion barrels by the end of May. JPMorgan notes that only about 800 million barrels are readily available without straining the...
Farmers Growing Increasingly Desperate Amid Rising Energy and Fertilizer Prices
Midwest farmers are heading into planting season under severe financial strain as the Iran conflict has driven diesel prices up 60% to $5.67 a gallon and fertilizer costs to historic highs. The surge in input costs, combined with lower soybean...