Silver Climbs 2% to ₹2.71 Lakh/Kg in Futures Trade Amid Strong Global Cues
Silver futures on India’s Multi Commodity Exchange jumped 1.9% to ₹2.71 lakh per kilogram (about $3,300) as global markets rallied. The rise mirrored a near‑3% gain in COMEX July contracts, which reached $77.21 per ounce. Traders cited renewed Middle‑East cease‑fire talks and anticipation of U.S. non‑farm payroll data as catalysts. Analysts also noted a shift toward expectations of a Federal Reserve rate hike, driven by higher energy prices and inflation concerns.
Tirupur Knitwear Makers Get Relief as Yarn Prices Drop
India’s Tirupur knitwear sector received its first relief in months as cotton yarn prices slipped by Rs.10 ($0.11) per kilogram. The drop follows the government’s temporary suspension of customs duties on cotton imports from June to October 2026, which also...
Weekly Kill: Qld Grids Soar 30-40c/Kg, as Supply Tightens Further After Rain
Queensland cattle grids surged 30‑40c/kg (≈ $0.20‑$0.26) in the past week as rain‑driven supply constraints tightened the market. The NLRS cow indicator climbed to 390c/kg (≈ $2.60), up $1 per kilogram from five weeks earlier, while heavy cows now command 740‑750c/kg (≈ $4.90)....
What Does the Oil Crisis Mean for You?
The war in Iran has ignited a fresh oil crisis, pushing crude prices to roughly $100 a barrel. The surge extends beyond gasoline, rippling through transportation, manufacturing and consumer budgets. MoneyWeek Talks’ editors dissect the current shock, forecast possible trajectories,...
Oil Holds Biggest Gain in a Month on Standoff in US-Iran Talks
Oil prices posted their strongest monthly gain as geopolitical tension resurfaced around U.S.-Iran negotiations. Brent crude for August delivery climbed to roughly $95 a barrel, up 4.2% after Tehran announced a halt to talks over Israel’s attacks in Lebanon. West...
Australian Wheat Crop Expected to Drop 26% on Weather, War Costs
Australia's 2026/27 winter wheat crop is projected at 26.7 million tonnes, a 26% drop from the previous season and below five‑ and ten‑year averages. The decline stems from an unusually dry winter, depressed global wheat prices, and soaring input costs...
Cotton Prices Down 3% on Import Duty Suspension, May Slide More
India has suspended an 11% import duty on cotton until October, prompting a swift 3% drop in cotton bale prices to ₹64,300 per candy (about $775) and a similar decline in yarn rates. The price correction follows a 27% rally...
Rising Gas Prices Are Changing How America Fills Up – And Shops – Placer.ai Blog
U.S. gasoline prices jumped nearly 60% from $2.80 to $4.49 per gallon between January and mid‑May 2026, driven by the Iran conflict and supply disruptions. Initially, consumers kept their driving and shopping habits steady, buoyed by an Easter‑related traffic boost....
Shortage of Caribbean Hot Sauce Peppers Looms
Caribbean hot sauce makers face a looming shortage of Scotch bonnet peppers, the key ingredient for their products. A combination of recent hurricanes in Jamaica, disease outbreaks, and pest infestations has slashed yields and driven up costs. Producers are experimenting...
Oil Market Fears Return as Iran Threat Fuels Inflation Risks
Oil markets spiked more than 7% on Monday after Iran announced it would cease all communications with the United States and move to fully block the Strait of Hormuz. The threatened closure of the narrow waterway, which transports roughly one‑fifth...
Oil Soars over 7% as Iran Suspends U.S. Negotiations
Oil prices surged nearly 8% on June 1 after Iran announced it would end U.S. negotiations and fully close the Strait of Hormuz in retaliation for Israeli actions. West Texas Intermediate rose to $94.20 a barrel and Brent to $97.23, the...
Aluminium Hits Four-Year High on Renewed Middle East Supply Risks
Aluminium prices surged to $3,685 per metric ton on the LME, matching a four‑year high as Middle East supply risks intensified following U.S.–Iran military strikes. The region, responsible for roughly 9% of global smelting capacity, saw the Strait of Hormuz...
Natural Gas Futures Waver at Week's Open Despite Strengthening Demand Outlook
Natural gas futures opened the week flat as traders weighed stronger demand against ample supply. Weather‑related heating needs and a rebound in Asian LNG imports are boosting consumption outlooks. U.S. production remains near 109 Bcf/d, while storage inventories sit above the...
European Biofuel Feedstock Price Spreads Widen as Gasoil Drops by $138/T Week on Week
Fastmarkets reported a $138 per tonne drop in European gasoil to $1,029/t, the steepest weekly decline. The fall widened key feedstock‑to‑gasoil spreads, with the rapeseed‑oil‑gasoil (ROGO) spread expanding to $454/t after rapeseed oil rose to $1,483/t. Palm oil prices climbed...
Wheat Price Commentary: US and European Futures Fall; Global Trade Quiet
US soft red winter wheat futures slipped 13 cents to $6.11 per bushel, while European Euronext contracts fell €2.75 (≈$3) to €207.50‑$216 per tonne. Trade activity was notably quiet, with sellers holding firm despite weaker futures. Russia lifted its 2025/26 export...
Mexican Table Grape Season Makes Early Debut, Squeezing Market Prices
The 2026 Mexican table grape harvest in Sonora began two to three weeks early due to unusually warm April temperatures, flooding the U.S. market with an oversupply. Export volumes have surged to nearly nine million boxes, far above last year’s...
Why Is the Oil Price Rising Today?
Oil prices are climbing as renewed geopolitical risk around Iran and the Strait of Hormuz adds a supply premium to crude markets. Analysts cite President Trump’s ambiguous Iran stance and the possibility of a cease‑fire as key sentiment drivers. Meanwhile,...
Domestic Jet Fuel Prices Unchanged for June; International Rates Reduced
India’s state‑owned oil marketers left domestic aviation turbine fuel (ATF) prices unchanged for June 2026, while cutting international jet fuel rates by $400 per kilolitre. The reduction follows a broader government effort to shield airlines from soaring crude‑oil costs, including...
Panic Bunker Buying Has Stopped but Hormuz Worries Remain, IBIA Head Says
International Bunker Industry Association (IBIA) chair Adrian Tolson said panic buying of marine fuel has subsided despite ongoing tensions in the Strait of Hormuz. He noted that the Middle East crisis is unlikely to trigger a bunker shortage, but shipping...
Crude Oil Prices Rise 2% as Concerns About Middle East Conflict Linger; Brent at $93. What's the Near-Term Outlook?
Crude oil prices jumped over 2% on Monday after Israel intensified its offensive in Lebanon, reigniting concerns about a wider Middle‑East flare‑up. Brent settled at $93 a barrel and U.S. WTI at $89.73, while India’s MCX crude rose to ₹8,542...
Oil Jumps 2% as Israel Expands Lebanon Offensive, Rattling Ceasefire Hopes
Oil prices jumped on Monday as Israel expanded its military operation in Lebanon, raising concerns about supply disruptions. Brent futures rose 2.45% to $93.35 per barrel and WTI climbed 2.8% to $89.78. The move came despite an April cease‑fire and...
Copper Gains With US Tariffs Deadline Less Than a Month Away
Copper prices rose in New York and London as the United States approaches a critical decision point on refined copper tariffs. The Commerce Secretary must submit a recommendation to President Trump by June 30, prompting a fresh widening of the U.S....
Goldman Sees Two-Sided Risk to Oil as Lower Use Offsets Iran War
Goldman Sachs warns that oil prices face a two‑sided risk: weakening demand and supply disruptions from the Iran‑U.S. conflict. April data suggest a 2 million‑barrel‑per‑day demand shortfall in China and Western Europe, adding roughly $10 per barrel to its Brent forecast...
Oil Rises From Six-Week Low Amid Uncertainty Over US-Iran Deal
Oil prices rebounded from a six‑week trough as Brent rose toward $93 a barrel and WTI hovered near $89, driven by renewed uncertainty over a US‑Iran peace deal. Negotiations over a cease‑fire extension and reopening the Strait of Hormuz stalled,...
Feedgrain Focus: North Plummets as More Rain Falls
Northern Australian grain markets plunged this week as recent rains improved yield prospects and cut grazer demand, moving wheat and barley from import parity to export parity within four weeks. Prices on the Darling Downs fell to about $425 AUD/ton (≈$280 USD),...
Wall Street May Have Solved a Nagging Mystery in Global Oil Markets as Doomsday Scenarios Have yet to Arrive
China’s crude imports slumped 20% in April and further to 7 million barrels per day in May, the sharpest drop since the pandemic, easing pressure on global oil supplies. While a 10‑million‑barrel‑per‑day shortfall persists due to the Strait of Hormuz closure,...
The Iran War’s First 90 Days Upended Energy Markets
The U.S.-Israeli strikes on Iran have triggered the largest oil and LNG supply shock in history, wiping out roughly 1 billion barrels of crude and condensate in the first 90 days. The de‑facto closure of the Strait of Hormuz cut about...
EU Weighs Temporary Freeze on Russia Oil Price Cap Over Iran
The European Union is weighing a temporary freeze on its Russian oil price cap, which currently sits at $44.10 per barrel. The cap, set to adjust automatically every six months, could otherwise rise to $65 in the July review, outpacing...
Japan's Imports of Oil-Derived Naphtha Plunge 47% in April Due to Iran War
Japan’s imports of oil‑derived naphtha dropped 47% in April to 1.14 million kiloliters year‑on‑year, driven by a 79% plunge in Middle‑East shipments after the U.S.–Israeli attacks on Iran shut the Strait of Hormuz. The United States surged to become the top...
America’s LNG Boom Is Real — But China Is Planning Beyond It
The Iran‑Israel strikes that shut roughly 20% of global LNG flow have sparked a sharp surge in U.S. gas prices and exports. In April, U.S. LNG shipments to Asia jumped about 25%, backed by $100 billion of private investment aimed at...
New Electricity Price Rules Planned for Eskom and Private Power Producers
South Africa’s regulator NERSA released a Transitional Generation Pricing and Vesting Contract Framework to guide the shift of Eskom and private generators into a competitive wholesale market. The proposal introduces vesting contracts—price‑fixed agreements between the national transmission company and generators—managed...
Renewable Fuel Credit Prices Hit Records on US Biofuel Mandates, Oil Market Volatility
Renewable fuel credits for 2026 surged to record levels, with D4 RINs reaching $2.32 per credit and D6 RINs topping $2.22. The jump follows the EPA’s March 27 mandate that set a 9.07 billion‑RIN requirement and a widening price gap between...
Copper Prices Must Rise as Supply Crunch Looms: Giustra
Copper prices have surged to a record $6.65 per pound, up roughly 40% in the past year, as analysts warn of an imminent supply crunch. Frank Giustra, a veteran mining financier, says the market must see higher prices to spur...
Mexico Fuel Price Caps Strain Supply Nationwide
Mexico’s voluntary fuel price cap, set at Ps24 per litre (about $4.45 per US gallon), is forcing retailers to shift away from private importers toward state‑owned Pemex. Pemex has responded with uniform wholesale rates, but its constrained logistics are creating...
Tomato Prices — Up 40% — Now a Symbol of Grocery Sticker Shock
U.S. CPI data shows tomato prices have surged 40% year‑over‑year, outpacing all other food categories. The spike follows the July withdrawal from a duty‑free Mexico tomato deal and a 17% tariff that lifted tariff collections from $16,424 to $4.6 million. Restaurants...
How the US Can Use Its Natural Gas Abundance to Ease Rising Fertilizer Prices
The Iran‑Iran conflict has choked the Strait of Hormuz, removing roughly 50% of the world’s traded sulfur and 36% of urea from the market, sparking a cascade of fertilizer price spikes. U.S. benchmark ammonia and urea prices have risen over...
How Geopolitical Shocks Are Fueling the North American LNG Boom
Geopolitical tensions in the Middle East have taken 17% of Qatar’s LNG capacity offline, sparking price spikes in Europe and Asia. At the same time, U.S. LNG export projects under construction now total over 18 billion cubic feet per day, positioning...
Gas Prices Are Dropping — but They're Still High
U.S. regular gasoline slipped to an average of $4.39 per gallon on Friday, a 16‑cent weekly decline as diplomatic talks between the United States and Iran hint at a cease‑fire extension. Despite the dip, prices are still far above the...
Chevron Warns Fuel Cost Pressure May Spread Across U.S. Economy
Chevron CEO Mike Wirth warned that tightening oil supplies from the Iran‑Hormuz conflict and shrinking strategic reserves could push fuel prices higher through June and July. The disruption removes an estimated 12‑13 million barrels per day, eroding the inventory cushion that...
Oil Prices Fall Amid Signs of US-Iran Ceasefire Extension Deal
Oil futures slipped more than 1% on Friday, with Brent crude falling to $92.47 a barrel and WTI to $87.52, marking the steepest weekly decline since early April. The drop follows reports that the United States and Iran have reached...
Oil Prices Fall Amid Signs of US-Iran Ceasefire Extension Deal
Oil futures slipped more than 1% on Friday, marking the steepest weekly decline since early April, after reports that the United States and Iran were close to extending a cease‑fire and lifting shipping limits in the Strait of Hormuz. Brent...
EU-ETS Market Rangebound as Market Awaiting EU July Meeting for Possible ETS Adjustments
The EU Emissions Trading System (ETS) is trading in a narrow band as market participants await the EU’s July policy meeting, which could adjust the scheme’s rules. Prices for front‑year EUAs sit around €60, while the Dec‑2026 contract trades near...
Monsters of Rock: Miners Take Leap to Add Supply in Latest Lithium Renaissance
Lithium prices have rebounded sharply, with spodumene concentrate peaking at US$2,870/tonne before easing toward US$2,500/tonne. The rally follows a year‑long “lithium winter” and is driven by booming EV battery builds, AI‑fuelled data‑center expansion and renewable‑grid storage needs. Benchmark Minerals projects...
Gold Edges Higher as Investors Weigh US-Iran Ceasefire Deal Reports, Fed Rate Outlook
Gold edged higher on Friday, trading at $4,512.79 per ounce, as investors weighed reports of a U.S.-Iran ceasefire extension and lingering inflation concerns. The metal’s modest 0.4% rise followed a two‑month low the previous day, while U.S. gold futures climbed...
Russia Yet to Capitalize on Mideast Supply Turmoil
Russia is finding it difficult to translate heightened global demand for non‑Middle‑East crude into higher export volumes. While the United States and United Kingdom have relaxed sanctions, Ukrainian drone strikes on Russian refineries and export terminals have constrained supply. Prices...
Rising Inflation Fears Pressure Bullion Price
Gold prices fell to $4,387 an ounce, a two‑month low, as recent attacks in Iran heightened oil prices and revived expectations of tighter U.S. monetary policy. The Gold Traders Association projects bullion could dip to $4,200 per ounce, translating to...
Oil Prices, May 28, 2026
Energy Intelligence’s May 28, 2026 briefing highlighted a volatile oil market as the Middle‑East war keeps the Strait of Hormuz closed, pushing Brent crude above $85 a barrel and denting diesel sentiment. Russian oil exports remain constrained by Ukrainian strikes despite record‑high...
Exxon, Chevron Execs: Oil Prices Just a Few Weeks From Spiking
ExxonMobil senior vice‑president Neil Chapman and Chevron CEO Mike Wirth warned that oil prices could surge to $150‑$160 a barrel within weeks as global inventory buffers erode. Both executives cited unusually low strategic petroleum reserve levels and the ongoing loss...
ITDP’s Response to the Iran Energy Crisis
Closing the Strait of Hormuz has driven oil prices up about 60% and natural‑gas prices up 100% in recent months, exposing the transport sector to soaring fuel costs. The disruption highlights the strait as a critical chokepoint whose future closures...
July Natural Gas Futures Navigate Tightening Inventories, Heavy Injection Risks
July NYMEX natural‑gas futures rose on Thursday after the U.S. Energy Information Administration reported a 92 Bcf storage injection for the week ending May 22, the first prompt‑month figure. While the injection matched analysts’ expectations, it further tightens the seasonal surplus as...