Gold Steady as Traders Track Strait of Hormuz Stalemate, Inflation Risks
Gold held near US$4,740 an ounce on Tuesday as traders weighed the escalating deadlock in the Strait of Hormuz, which has lifted oil prices and revived inflation worries. President Donald Trump dismissed Iran’s reaction to a U.S. peace proposal as “a piece of garbage,” underscoring the conflict’s uncertain duration. The market also saw the U.S. dollar and bond yields ease, a supportive backdrop for gold, while silver surged more than 7% on technical buying. A key U.S. CPI report is due later, adding further price‑trend uncertainty.
Woodside Has an LNG Pricing Problem
Australia’s Woodside Energy is struggling to secure buyers for LNG from its newly commissioned Louisiana plant because it is charging higher liquefaction fees than rival U.S. exporters. Reuters, citing unnamed sources, says the pricing gap is deterring utilities and traders...
U.S. Oil Exporters Under Scrutiny
The United States has surged as a global swing supplier of energy amid the Iran war‑induced shortage, shipping 153 million tons of crude, gasoline, LNG, diesel, jet fuel and ethane from January to April 2026. That represents a 20% year‑over‑year increase...
Aramco CEO Says Demand 'Rationing' Will Continue
Saudi Aramco reported a 26% jump in first‑quarter adjusted net income, reaching $33.6 billion. The profit increase came amid heightened geopolitical risk as Iran moved to close the Strait of Hormuz, a key oil transit chokepoint. CEO Amin H. Nasser said...
Publication of Fastmarkets’ Steel Scrap No1 Busheling, Delivered Mill Chicago Assessment on Monday May 11, 2026
Fastmarkets published its latest No1 busheling steel scrap price for the delivered‑mill Chicago market on Monday, May 11, 2026. The price is included in the firm’s North America ferrous scrap assessment package and follows the company’s standardized methodology. The release...
Trump Reportedly to Sign Orders Aimed at Lowering Beef Prices
President Donald Trump is poised to sign two executive orders aimed at lowering beef prices for American consumers. One order would temporarily suspend the tariff‑rate quota on beef imports, effectively reducing tariffs once import volumes reach a set threshold. The...
Natural Gas Cash Markets Heat Up
U.S. natural gas cash prices rallied on Monday, with Tuesday‑delivery contracts strengthening across most regions. The surge was fueled by warmer weather forecasts, scheduled pipeline maintenance, and a sharp rally in NYMEX futures that added momentum. Despite the gains, the...
US Shale Producers Report Muted Fuel Price Impacts
U.S. shale operators say diesel price spikes from the Middle East conflict have had only a muted effect on their costs. The limited impact is attributed to a recent shift toward electric‑drive and dual‑fuel drilling rigs. These newer rigs reduce...
Soybeans, Corn, and Wheat Start the Week Higher
Soybean futures climbed for a second session, with July beans up $0.05 to $12.13 per bushel, buoyed by higher soybean oil and crude oil prices. Corn edged higher to $4.75, supported by fund buying and recent USDA export sales, while...
Market Watch: June Nymex Climbs as Forecasts Warm
June NYMEX natural‑gas futures jumped 15.3¢ to $2.91 per million British thermal units, marking a notable intraday gain. Gelber & Associates said the market still feels like a shoulder‑season but the demand mix is improving where it matters most. An...
PH Fuel Prices Still Easing Amid Uncertainty
The Philippine Department of Energy announced a further cut to diesel (‑₱9.57/L, now ₱71.19‑₱93.83/L or about $1.30‑$1.70) and kerosene (‑₱13.30/L, now ₱111.70‑₱136.70/L or about $2.02‑$2.48), while gasoline ticked up 0.47 PHP (~$0.008) per litre. Energy Secretary Sharon Garin said the nation’s...
Trump Backs Suspension of US Gasoline Tax
President Donald Trump called for a suspension of the federal gasoline excise tax of 18.4¢ per gallon, arguing it would help curb soaring fuel prices as the Iran‑related oil market turmoil persists. The proposal has bipartisan backing, with Senate bills...
Crude Oil Soars As U.S.-Iran Peace Deal Remains Elusive
Crude oil prices jumped on Monday, with WTI June futures climbing to $98.75 a barrel, a 3.5% gain, after the United States rejected Iran’s proposal to end hostilities. The rejection keeps the strategic Strait of Hormuz closed, heightening supply‑risk concerns...
Bigger Natural Gas Storage Build Ahead, but Gap to Last Year Continues to Close
Natural Gas Intelligence estimates an 86 Bcf injection for the week ending May 8, matching the five‑year average and narrowing the annual surplus to 52 Bcf, down from 75 Bcf a year earlier. The injection marks a 23 Bcf week‑over‑week rise and supports higher forward...
Permian Natural Gas Prices Surpass 2025’s Negative Run
Permian Basin natural gas prices are on track to spend a record number of days in negative territory in 2026, with the Waha hub already posting 118 negative‑price flow days. Excess production has forced shut‑ins exceeding 620 MMcf/d, highlighting a severe...
Hawke’s Bay Baker Says Wholesalers Should Be ‘Stepping up’ as Butter Prices Spike Again
Butter prices in New Zealand have jumped again, with a 500 g Woolworths block climbing from NZ$7.30 (≈$4.4 USD) to NZ$8.39 (≈$5.0 USD). Local baker Courtney Booth reports her weekly butter spend of about NZ$800 (≈$480 USD) and notes wholesalers charge roughly NZ$9 ($5.4 USD) per...
Gold Ticks Lower Amid Increasing Oil-Driven Inflation Concerns After U.S. Rejects Iran's Peace Plan
Gold edged lower on Monday, slipping 0.01% to $4,730.50 per ounce after the United States dismissed Iran's counter‑proposal to a peace plan, reigniting oil‑driven inflation concerns. Silver surged 6.5% to $85.84 per ounce as investors shifted toward risk‑on assets. The...
Fastmarkets Extends Consultation on Proposal to Launch Price Assessment for Tungsten Unwrought Metal Bar, CIF Main Ports Europe, US, Japan
Fastmarkets has extended the consultation on its proposed price assessment for unwrought tungsten metal bars to May 26, with a decision slated for May 29. The new index would price 99.8% pure tungsten bars on a CIF basis to major ports in...
Mosaic to Scale Back US Phosphate Production over High Input Costs
Mosaic, the largest U.S. phosphate producer, announced it will halve output at its Faustina, Louisiana, and Bartow, Florida plants due to soaring sulfuric acid prices, a key input for monoammonium phosphate. The curtailment trims U.S. production by roughly 3.4 million tons, undermining...
Natural Gas Futures Sustain Intraday Momentum as Summer Demand Nears, War Endures
Natural gas futures continued their intraday rally as the market priced in a hotter summer and persistent geopolitical tension. Prices rose roughly 3% to around $2.55 per million British thermal units, reflecting tighter European storage and higher U.S. demand for...
Silver Price Jumps to Two-Week High Despite US-Iran Deadlock
Spot silver surged 7% to nearly $86 per ounce, hitting a two‑month high despite a deadlock in US‑Iran peace talks. Gold edged up about 0.4% as investors weighed the geopolitical tension and broader macro data. Technical analysis shows silver breaking...
Iran War Chokes ‘Major Driver’ of Global Economy
The U.S. war in Iran has choked the Strait of Hormuz, trapping roughly 15 million barrels of crude and 5 million barrels of petroleum products each day. The resulting supply squeeze pushed U.S. diesel prices 60 percent higher than a year ago, the...
Why California’s Soft Natural Gas Prices May Not Last
California’s natural‑gas prices, among the nation’s lowest, are under pressure as expanding LNG export capacity, rising western power demand, and shifting pipeline flows tighten regional supply. The SoCal Citygate and PG&E Citygate benchmarks have historically lagged the Henry Hub, but...
Bulls Gaining Edge in ‘Tug of War’ as Natural Gas Trying to Break Through Resistance
Natural gas June futures are testing a key technical resistance, with prices probing the upper Bollinger Band. Production outlook remains bearish and LNG export constraints are dampening market sentiment. Forecasts show rising summer heat, adding demand pressure. The market is...
Jean-Hugues De Lamaze: Is Hormuz the New Fukushima?
A blockade of the Strait of Hormuz has halted roughly a quarter of global oil output and significant LNG volumes, creating the worst energy shock on record, according to the IEA. The disruption mirrors the systemic shock of Fukushima but...
Going Industrial. Manic Metals Report 05/11/2026
The Manic Metals Report shows industrial metals such as copper and aluminum surged after a robust jobs report and strong manufacturing data signaled a resilient U.S. economy. Meanwhile, gold and silver gained as oil prices slipped, reaffirming the classic inverse...
The Daily: Hormuz Holds, Oil Climbs, and AI Keeps Leading
Oil prices surged above $100 as the Hormuz deadlock deepened, reigniting inflation and rate pressures worldwide. AI infrastructure spending remains a growth engine, highlighted by over $10 billion of demand for Cerebras Systems ahead of a potential IPO price hike. The...
Copper Shrugs Off Middle East Uncertainty to Eye Record High
Copper is approaching its highest ever close, trading around $13,730 per ton on the LME, as broader base‑metal prices rise despite the US‑Iran standoff. Tight supply, declining Chinese inventories, and strong demand from clean‑tech exports are driving the rally. Analysts...
India State Refiners Eye Modest Fuel Price Hike
Indian state‑owned refiners are poised to raise retail diesel and gasoline prices by about 5 rupees per litre (≈$0.05) in the coming days. The modest increase is intended to offset an estimated daily loss of 10 billion rupees ($105 million) caused by...
Rising Gold Prices Reshape Engagement Ring Market as Material Value Dynamics Shift
New research from 77 Diamonds shows that soaring gold prices have cut jewelry‑sector gold demand by more than 23% in Q1 2026, even as overall global gold demand rose 2.1% year‑on‑year. Gold prices jumped 16.2% quarter‑over‑quarter, making newly produced gold rings less...
Oil Rally Lures Shale Independent, but Majors Unswayed
Oil prices surged above $100 a barrel amid Middle East supply disruptions, prompting a mixed response from U.S. producers. Diamondback Energy announced a 3% output lift to over 520,000 barrels per day and plans to add 2‑3 rigs, signaling a...
Current Price of Oil as of May 11, 2026
Oil prices rose to $107.67 per barrel for Brent crude on May 11, 2026, up 48 cents from the previous day and roughly $43 higher than a year ago. The increase reflects tightening global supply, OPEC+ output decisions, and robust U.S. shale...
Competitive Power Markets Have Delivered. Abandoning Them Would Be a Mistake.
Competitive wholesale electricity markets, exemplified by PJM, have spurred billions in private generation investment and created a 40% surplus in Pennsylvania, while Virginia’s vertically integrated model leaves it the nation’s largest electricity importer. The author argues that rising power prices...
Correction to Zircon, Premium Grade, 66.5% ZrO2 Min, Bulk, Cif China, Price on May 7: Pricing Notice
Fastmarkets corrected its price assessment for premium‑grade zircon (66.5% ZrO₂ minimum) CIF China, originally posted at $1,600‑$1,700 per tonne. The accurate range is $1,600‑$1,670 per tonne, and the pricing database has been updated. The correction is part of Fastmarkets’ industrial...
Wheat Prices Mixed Across Regions and Soybean Markets Relatively Quiet Amid Chinese Holiday
European wheat futures slipped, pulling spot premiums lower while physical premiums held steady across France, Germany and the Baltics. Australian wheat remained firm, with assessments climbing to $277 per tonne amid dry conditions in New South Wales and Queensland. In...
Oil Traders Adding Back Supply Risk Premium
Oil prices jumped over 3% on May 10, with Brent climbing to about $104.50 a barrel as traders re‑added a supply‑risk premium following President Donald Trump’s dismissal of Iran’s peace overture. The comment revived concerns over the Strait of Hormuz, a...
Iran War Day 73: Trump and Tehran Clash over Latest Peace Proposals
U.S. President Donald Trump rejected Iran's latest peace proposal, calling it totally unacceptable, as the 73‑day U.S.-Israel war on Iran drags on. Tehran’s offer called for ending the naval blockade, lifting sanctions and preserving its nuclear and foreign‑policy autonomy, which...
Gold: A Volatile Path Towards a New Base. WisdomTree’s Forecasts Through to the First Quarter of 2027
WisdomTree’s latest outlook projects gold moving toward a higher equilibrium by Q1 2027, but with sustained volatility. The metal spiked to a record $5,600 per ounce in January 2026 before plunging to $4,100, while quarterly demand jumped 74% YoY to $193 bn. New...
CIL’s Coal Auction Volumes Dip 6% in April
State‑owned Coal India Ltd (CIL) offered 30.5 million tonnes of coal through its Single Window Mode Agnostic (SWMA) auction in April, a 6 percent drop from March’s 32.5 MT. The decline occurs as West Asian geopolitical tensions push power plants to lean on...
Partner Insight: No Disruption to the Post - Covid Commodities Boom
The commodities cycle is now in its mid‑phase, propelled by capital investment as demand for strategic metals surges from electrification, renewable energy, electric vehicles and data‑centre expansion. Supply deficits persist because new mining projects won’t deliver significant output until around...
Hong Kong Plans to Revive Gold Futures Amid Rising Demand
Hong Kong Exchanges and Clearing is set to revive gold futures trading within the next few months, responding to surging demand from mainland China and broader Asian markets. The government will back the relaunch with a new clearing system and...
Gold Demand Climbs as Top Miners Post Record Q1 Earnings>
Gold demand grew 2% YoY in Q1 2026, reaching 1,231 tonnes and a $193 billion value, driven by central bank buying and strong bar and coin purchases. Central banks added 244 tonnes, a 3% increase, while Asian investors pushed bar and...
Feeder Cattle Market: Optimism Builds Back After Price Slide
Feeder cattle prices on the Darling Downs slipped to 440‑450 c/kg, suggesting the market may be reaching the bottom of its current cycle as seasonal supply eases and rain approaches central Australia. Angus feeder steers remain resilient, trading around 520‑530 c/kg, outpacing...
SMA Says Overcapacity Remains a Threat
The Steel Manufacturers Association (SMA) testified before USTR investigators, urging the use of Section 301 tariffs to combat global steel overcapacity that threatens U.S. jobs and competition. SMA highlighted that China’s excess capacity exceeds U.S. steel output by more than eight...
_3.jpg)
Iraq Drops Out of Thai Rice Market Due to Hormuz Blockage
Thailand's rice exports to Iraq have stopped completely for three months after the war in the Middle East blocked the Strait of Hormuz. Iraq, previously Thailand's largest rice market at 80‑90 000 tonnes per month, now receives no shipments. The disruption...
Australia’s March Canola Exports Down 37pc From Feb
Australian canola exports dropped sharply in March 2026, falling 37% to 558,780 tonnes versus February’s 881,777 tonnes. The decline reflects the closure of the Persian Gulf due to the Iran‑US conflict, which eliminated shipments to the United Arab Emirates—zero tonnes...
Durian Prices Tumble in China as Faster Deliveries From Southeast Asia Boost Supply
Durian, once a luxury fruit in China, has seen its wholesale price plunge as faster cold‑chain rail and sea routes from Southeast Asia boost supply. In Kunming, Thailand’s Monthong durians now sell for 28 yuan per kilogram (about $4), a drop...
Italy’s Edison Expects Two-Thirds of LNG Supply From Qatar to Be Delivered Shortly After Any Peace Deal
Edison, QatarEnergy’s biggest Italian customer, said it will receive roughly two‑thirds of its contracted LNG volumes within 30‑45 days after any peace agreement between the United States, Israel and Iran. The company has already seen 12 cargoes cancelled, though eight...
The Winners and Losers of the Iran Energy Shock
The closure of the Strait of Hormuz in March choked roughly 20% of global oil and LNG flows, triggering national energy emergencies and sharp price spikes. Countries heavily dependent on imported fuels, from the Philippines to Zambia, scrambled for emergency...
Iron Ore Climbs as Steady China Demand Offsets Supply Risks
Iron ore prices surged to $111.90 a ton in Singapore, the highest level since October 2024, after climbing as much as 1.3% on the day. The rally marks the sixth gain in seven trading sessions, driven by solid steel production...