Commodities News and Headlines
Commodities News and Headlines
Commodities Pulse
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Every morning
Weekly
Tuesday recap
President Donald Trump claimed the United States received over 80 million barrels of Venezuelan crude, a figure far exceeding reality. Vortexa ship‑tracking data shows U.S. imports of Venezuelan oil totalled about 17.7 million barrels, roughly 300,000 barrels per day, in January and February. The discrepancy stems from the U.S. raid that captured former President Nicolás Maduro and the subsequent seizure of sanctioned tankers, which still hold an estimated 8 million barrels. While shipments are moving onto mainstream tankers, Washington continues to control most Venezuelan crude sales.
The U.S. Treasury's Office of Foreign Assets Control (OFAC) announced it will approve third‑party applications to resell Venezuelan crude and refined products to Cuba. Transactions must follow the same conditions as U.S.-authorized sales to Venezuela's state oil firm, including depositing...
Saudi Arabia’s largest oil shipper, Bahri, provisionally chartered five very large crude carriers as daily charter rates neared $200,000, the highest level since 2020. The vessels are slated to move Saudi crude to Asian markets, chiefly China, in the coming...
Germany's Bundestag will vote on a hydrogen acceleration law that expands eligible infrastructure to include carbon‑capture‑and‑storage (CCS) based hydrogen production. The amendment also adds import facilities for power‑to‑liquid fuels such as synthetic aviation fuel. Projects designated as "overriding public interest"...
Lineage reported flat Q4 revenue of $1.34 billion and a modest $6 million net profit as the cold‑storage market works through a 10% oversupply. New refrigerated space expanded 14.5% from 2021‑2025, while demand rose only 5%, creating a capacity gap that is...
Ontario natural gas storage remains well below the five‑year average, sitting 27.7 Bcf short and driving Dawn hub prices higher as winter ends. Seasonal withdrawals are the third‑largest on record, with the March exit projected near 60 Bcf. The forward price curve...
Russia's finance ministry announced plans to lower the cut‑off price that triggers the transfer of oil revenues into the budget reserve fund. The move aims to channel more of the declining oil proceeds into the $56 billion reserve to protect it...
Crude oil rallied to $65.89 per barrel this morning as concerns over a potential Iranian conflict resurfaced, while the Canadian dollar held near 65.89 U.S. cents. In the grain sector, canola futures slipped to C$690.20 a tonne, pressured by a...
Indonesia, which supplies roughly 65% of global nickel, is set to increase output to 2.9 million tonnes in 2026, an 11.9% rise from 2025. The boost stems from expanded mining permits at Weda Bay and the commissioning of several high‑pressure acid...
European day‑ahead power contracts plunged on Wednesday as wind generation surged and demand fell across the region. Germany's baseload price dropped 20.6% to €75/MWh, while France’s fell 30% to €21/MWh. Wind output is set to reach 23.8 GW in Germany and...
Zambia will establish a “rainy day” stabilisation fund to lock away surplus copper revenues as production hits record levels and prices hover near historic highs. The Treasury plans to finalise the fund’s framework this year before beginning deposits, using the...
Australia’s coal output remained flat in 2025 at roughly 65 mt, buoyed by the Olive Downs Complex and efficiency gains at Hunter Valley and Dawson. A 3.9% rise to 483.2 mt is forecast for 2026, driven by the Maxwell underground ramp‑up, capacity...
Severe congestion at Kenya's Port of Mombasa is disrupting East Africa's coffee trade, with major exporter Sucafina warning of missed shipments and rising costs. Truck queues, customs bottlenecks, and limited empty‑container depots have left vessels idle and cargo handovers delayed....
Managed‑money funds have begun easing their long‑standing short stance in wheat, reducing a net short of 97,370 contracts (13.2 million tonnes) after buying back 26,772 contracts in the week to February 17. The spring wheat market remains the most heavily shorted, with...
The U.S. Energy Information Administration’s February 10 Short‑Term Energy Outlook projects total U.S. energy consumption to stay below 2025 levels in both 2026 (96.00 qBtu) and 2027 (96.15 qBtu), marginally under the 96.19 qBtu recorded in 2025. While overall demand flattens, liquid‑fuel use...
The Trump administration will deploy DARPA’s Open Price Exploration for National Security (OPEN) AI system to establish reference prices for critical minerals, starting with germanium, gallium, antimony and tungsten. The tool calculates fair values by stripping out alleged Chinese market...
Australia’s Gorgon‑linked LNG exporter sent a cargo aboard the Maran Gas Hector to eastern Canada, covering roughly 16,000 miles – the longest route for Australian LNG to date. The move reflects a sharp slowdown in Asian demand, where shipments to...
Botswana Diamonds announced it will rebrand as Botswana Minerals and adopt the ticker BMIN, reflecting a strategic pivot toward copper exploration. An AI‑driven analysis of its 95,000 sq km geological database uncovered 11 high‑potential copper targets, leading to eight new licences. The...
Nepal's soybean oil exports to India surged more than tenfold in 2025, reaching a record 694,153 metric tons and generating over $1 billion in revenue. The growth was driven by duty‑free access under the South Asian Free Trade Agreement, allowing Nepal...
Shell and Greece’s METLEN have signed an MoU to supply and trade up to 1 bcm of LNG annually from 2027 to 2031. Deliveries will flow through the Revithoussa and Alexandroupolis regasification terminals. The deal leverages the Vertical Gas Corridor to...
Ofgem announced a 7% cut to the UK energy price cap, lowering the typical annual household bill to £1,641 from April. The reduction translates to about £10 a month, or £117 per year, representing more than £200 savings compared with...
Fastmarkets announced a proposal to launch a new ex‑works China price for antimony trioxide (99.5% Sb2O3 min). The price, quoted in yuan per tonne, will be published weekly and targets a minimum 10‑tonne spot transaction. The consultation period runs from...
Standard Bank’s African Markets Conference highlighted a bullish outlook for gold, with its head of precious metals projecting the metal to finish the year above $6,000 per ounce and potentially reach $7,000‑$10,000 next year if interest rates keep falling. Attendees...
Coal India has endorsed a phased rollout of the National Coal Exchange, aiming to move coal trading from traditional e‑auctions to a regulated electronic platform with market‑based price discovery. Executive Director V S Maharaj emphasized that reforms must be calibrated to protect...
The Australian government is closely tracking new iron‑ore pricing arrangements being trialled between Chinese buyers and major Australian producers. Companies such as Fortescue and Rio Tinto have begun using Fastmarkets, while BHP negotiates with China Mineral Resources Group over alternative...
LSB Industries reported a strong fourth‑quarter 2018, posting $94.7 million in revenue, a 31% year‑over‑year increase, and adjusted EBITDA of $23.3 million versus $1 million in the prior year. The improvement stemmed from higher fertilizer pricing, robust ammonia and UAN volumes, and plant...
Global renewable‑energy investment hit a record $386 billion in 2025, driven by offshore wind and small‑scale solar in emerging markets. In the United States, clean‑energy funding slumped sharply in Q4, falling 36 percent after the Biden‑era EV tax credit was eliminated, resulting...
Crude futures fell on Tuesday after Iran's foreign minister indicated a potential US‑Iran agreement on uranium enrichment could be reached in Geneva. The optimism trimmed the geopolitical risk premium, pushing WTI and Brent below $80 per barrel. Prices had been...
The global gas and LNG market entered a volatile phase in late February 2026, driven by tighter supply, rising spot prices, and shifting demand patterns across Europe and Asia. European winter demand outpaced supply, prompting higher contract renegotiations, while Asian...
Live cattle futures on the CME edged higher on Tuesday, with April contracts down $0.15 to $239.10 and June up $0.10 to $235.55, while feeder cattle prices rebounded sharply. Cash cattle trade remained muted, as bids and offers were not...
The Energy Information Administration released the February 24, 2026 natural‑gas spot price report, detailing volume‑weighted average prices for next‑day flow and weekend delivery. The data include both wellhead and delivered price composites, along with the day’s trading range, total gas volume, and...
Natural gas futures settled at $2.85 per MMBtu on Feb. 24, 2026, marking a 3% weekly gain. The rally was fueled by colder-than-expected temperature forecasts across the U.S. Midwest and a continuation of OPEC+ production cuts extending into 2027. Liquefied natural...
The U.S. Department of Agriculture announced a 45‑day Request for Information to gather public input on improving its market data reporting. Farmers have voiced growing distrust, citing confusing acreage updates in the 2025 corn report and perceived gaps between supply...
The European Union is reviewing its Arctic policy, and a tighter definition could unlock the Barents Sea’s estimated 22 trillion cubic feet of gas. Norway’s offshore fields could then supply 20‑30% of EU gas demand through 2050, offering a lower‑emission alternative...
U.S. pork cold‑storage rose 1 % year‑over‑year to 410.404 million pounds in February, driven by gains in butts and bone‑in hams despite a dip in overall pork production. Beef inventories fell 4 % YoY, pulling total red‑meat stocks 2 % below last year’s level....
The USDA reported that U.S. cold‑storage cheese inventories rose modestly in January, reaching 1.38 billion pounds, up from 1.37 billion pounds a year earlier. By contrast, butter stocks fell to 215.4 million pounds, down 45 million pounds from the same month last year but...
The Indian government has approved a limited export of 25 lakh metric tonnes of wheat and an additional five lakh tonnes of wheat products, despite the overall export ban remaining in force. The decision, taken in January and notified by...
Indonesia’s state oil company Pertamina and U.S. service firm Halliburton have signed an MOU to develop unconventional well construction and stimulation across onshore fields. The partnership will evaluate multi‑stage hydraulic fracturing, acid stimulation, advanced cementing and AI‑driven automation to improve...
Diamondback Energy says fears of a global oil glut are receding as resilient demand steadies the market. Recent price action shows U.S. crude futures up more than 15% year‑to‑date, erasing most of 2025’s 20% loss. The company will keep output...
Polish oil major ORLEN has bolstered its North Sea presence by acquiring a 7.6% interest in the Albuskjell and Vest Ekofisk fields, bringing its total stake in the Tommeliten Gamma field to 62.61%. The three assets, developed under the Previously Produced Fields...
The Mediterranean gasoline market is diverging from northwest Europe as several key fluid catalytic cracker units undergo maintenance, notably Helleniq Energy’s Aspropyrgos refinery in Greece and Eni’s Milazzo refinery in Italy. With offshore capacity constrained, February‑March spreads have turned backwardated—a...
Poland’s ferrous scrap exports to non‑EU markets slipped 8.6% in 2025, falling to 1.204 million tonnes after three years of growth. Shipments to India, Pakistan and Morocco dropped sharply, while volumes to Turkey rose 2.4% and exports to the United States...
Motiva announced a $0.50 per US‑gallon reduction to its Group II, II+ and III base‑oil postings, effective 1 March. The cut could translate into contract price declines of 10‑15¢/USG for parties linked to Motiva’s postings or to basket indices, while blenders with...
The Fast Forward podcast revealed that fear has become a standalone market fundamental for copper, outweighing traditional supply‑demand metrics. Deglobalization is prompting nations to build strategic stockpiles such as the U.S. Project Vault and forcing firms to adopt just‑in‑case inventory...
The UK Trade Remedies Authority (TRA) plans to strip Turkey of its developing‑economy exemption for hot‑dip galvanised (HDG) steel, moving Turkish shipments into the capped “other countries” quota. The move follows Tata Steel’s complaint that Turkish imports surged to 58,030 t...
The Democratic Republic of Congo’s mineral export prices are set to fall in the week of Feb 23‑28, 2026, with tin posting the steepest decline to $48,089 per ton, a $1,667 drop from the prior week. Copper, gold, and zinc also...
Rising food‑away‑from‑home prices and growing protein demand are reshaping how full‑service restaurants evaluate chicken. While private‑label chicken still promises lower case costs, operators are encountering variability that hurts labor efficiency and menu flexibility. Brakebush Brothers positions itself as a consistent,...
Kibali gold mine posted record revenue of about $2.3 billion in 2025, a 40% jump from 2024, despite a 2% dip in gold output to roughly 673,000 ounces. Barrick’s 45% share generated $1.04 billion, while the mine’s contribution to group earnings rose...
Sylvania Platinum posted a 110% year‑on‑year jump in net revenue to $99.8 million for the six months to 31 December, driven by a 25% rise in 4E PGM production and a 55% increase in basket prices. Adjusted EBITDA surged 414% to $51 million...
Irish developer ET Fuels has signed a binding long‑term offtake agreement with UK shipping firm RFOcean to supply e‑methanol at a fixed price starting in 2030. The fuel will be produced at ET Fuels’ advanced Rattlesnake Gap plant in Texas,...
