Commodities News and Headlines
Commodities News and Headlines
Commodities Pulse
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EMAIL DIGESTS
Daily
Every morning
Weekly
Tuesday recap
Australia faces a deepening petrol crisis as more than 500 service stations have run out of at least one fuel type, driving prices sharply higher. The shortage stems from the war sparked by the US and Israel in Iran and the subsequent closure of the strategic Strait of Hormuz, choking global oil flows. The national cabinet convened a second emergency meeting today, following a March 19 session that appointed Anthea Harris as Fuel Supply Taskforce coordinator. The taskforce will work with states to stabilize supply chains and curb price spikes.
Russia banked on a windfall after oil prices spiked when the Strait of Hormuz closed and the United States briefly eased sanctions on its crude. The surge lifted Urals prices near Brent, temporarily rescuing a revenue stream that had collapsed...
A Filipino farmers’ coalition, Kilusang Magbubukid ng Pilipinas, warned on March 29 that soaring fuel prices are pushing farmers and fisherfolk deeper into debt and could trigger a nationwide food crisis. Diesel‑driven irrigation and transport costs have surged, while fertilizer prices...
The National Stock Exchange of India (NSE) will launch Dated Brent Crude Oil (Platts) futures on April 13, 2026, after receiving SEBI approval. The contract will be cash‑settled, with monthly settlement based on the simple average of Platts Dated Brent...
The escalating Iranian conflict has pushed crude oil prices above $100 per barrel and raised the specter of a Strait of Hormuz closure, which could choke one‑fifth of global oil flow. Such a supply shock would amplify fuel costs, trigger...
Diesel prices have surged 41% since March 2, while dry‑van spot rates rose 7.5%, yielding a 0.7 correlation. Historically, the relationship flips—March 2022 showed a –0.8 correlation—showing diesel isn’t a consistent driver. Fuel now accounts for roughly 30% of a truck’s operating...
Brent crude has surged past $100 a barrel and WTI topped $90, creating a price environment that comfortably exceeds shale breakeven levels. Yet U.S. oil drillers remain hesitant, citing the ongoing Middle East conflict as a major obstacle to investment...
A La Niña‑driven moisture deficit over Brazil’s Centre‑South cane belt is creating a bullish signal for raw sugar that has not yet been priced into markets. Brazil, which accounts for roughly 40% of global sugar exports, typically sees yields dip three...
Spain’s electricity market is insulated from the current European energy crunch thanks to a renewable‑heavy mix—almost 60% of its power comes from solar, wind and nuclear—keeping the average price at about €14/MWh (≈$15) versus over €100/MWh (≈$107) in Italy, Germany...
China rejected three Indian rice shipments over alleged GMO contamination, signaling heightened trade friction. India is weighing "floor and ceiling" price clauses for key fertilizers as global prices surge and monsoon planting looms. Meanwhile, half of the nation’s 166 major...
Higher oil prices spurred by the Middle East conflict are prompting Citi to predict a resurgence in U.S. shale drilling later this year, with an expected output boost of more than 100,000 barrels per day by 2027. The bank’s forward‑curve...
The 1973‑74 Arab oil embargo and the 1978‑79 Iranian revolution caused oil prices to quadruple, triggering severe gasoline shortages and reshaping global financial markets. Those shocks redirected capital flows and solidified the U.S. dollar as the world’s primary reserve currency....
Oil prices surged after the United States and Israel struck Iranian nuclear sites, with Brent climbing 4.2% to $112.57 a barrel and WTI jumping 5.5% to $99.64. At the same time, equity markets slipped, the S&P 500 closing 1.7% lower and...
Oil prices jumped on March 27 as traders grew skeptical about a cease‑fire in the month‑long Iran conflict. Brent crude rose 4.2% to $112.57 a barrel and WTI gained 5.5% to $99.64. Since the February 27 strikes, Brent is up...
Gold prices in India rebounded sharply, climbing over ₹17,500 to ₹147,270 per 10 gm (≈ $1,775) after a weekly low of ₹129,595 (≈ $1,562). Internationally, COMEX gold held above $4,500 per ounce but posted a 1.85% weekly decline. The rally was fueled by...
The global oil market absorbed the shock of the largest supply disruption in history – the closure of the Strait of Hormuz – thanks to pre‑war inventory cushions. For roughly four weeks, prices remained muted as surplus stocks and strategic...
Brent crude futures surged into the weekend, climbing roughly 5% to around $85 a barrel, the highest level in several months. The rally was driven by lingering supply worries as the war in the Middle East shows no sign of...
April Nymex natural gas futures rose 9.6 cents to close at $3.095 per MMBtu, while the May contract, set to become the prompt‑month contract on Monday, gained 9.7 cents to $3.025. Gelber & Associates noted that prices below $3 continue to draw...
The EPA finalized the 2026‑2027 Renewable Fuel Standard, setting the largest biomass‑based diesel volume ever approved. Grain markets reacted sharply negative, with futures dropping as traders processed the news. Analysts suggest the decline stems from uncertainty about future RFS targets...
UK homeowners are accelerating the shift away from fossil fuels as energy price spikes tied to the US‑Israel‑Iran conflict drive demand for solar panels, heat pumps, and electric‑vehicle chargers. Octopus Energy reported record March enquiries, with solar sales up 54%...
Economist Ernie Goss of Creighton University says farmland values are strengthening even as farm incomes remain flat. The Rural Mainstreet Index showed the March farmland index rose above growth‑neutral for the first time in 2026, signaling renewed price momentum. Goss...
WTI crude settled at $99.64, briefly topping $100 per barrel for the first time since early May, as traders price a longer‑term Middle East conflict into oil markets. The rally follows a U.S.–Israeli strike on an Iranian steel facility, prompting...
Carnival Corp lowered its full‑year adjusted earnings per share outlook to $2.21, down from a prior range up to $2.48, as surging fuel costs strain margins. The increase in fuel expenses, driven by Middle East geopolitical tensions and a lack...
Fastmarkets announced plans to introduce fortnightly price assessments for bismuth and indium on a Delivered‑Duty‑Paid (DDP) US basis starting May 1. The bismuth benchmark will be quoted in USD per pound with a minimum 1‑tonne contract, while indium will be priced...
Baker Hughes reported its total rig count fell to 543 this week, down from 552 the prior week. Oil rigs slipped to 409 from 414, while natural‑gas rigs declined to 127 from 131. The drop occurs even as crude prices...
Diesel prices in New Zealand have surged 80% since February, reaching $3.24‑$3.45 NZD per litre (about $1.94‑$2.07 USD), overtaking 91 petrol for the first time. Petrol has risen only 35% in the same period. Trucking firms are absorbing extra costs—up to $150 NZD (~$90 USD) daily...
Cash dairy prices slipped on Friday at the Chicago Mercantile Exchange, with most benchmarks posting modest declines. Forty‑pound cheese blocks fell $0.0375 to $1.5825 per pound, while cheese barrels dropped $0.0075 to $1.5650. Butter prices decreased $0.02 to $1.8250, and...
Midday cash livestock markets showed muted cattle activity, with live bids at $235, still below the $238‑$240 asking range in Texas, while Thursday’s deals held steady at $370‑$372 per head. Boxed beef prices rose, with Choice beef up $4.24 to...
China’s National Energy Administration reported 32.48 GW of new solar capacity installed in January‑February 2026, a 17.7% year‑on‑year decline, while total generation capacity reached 3.95 TW, with solar climbing to 1.23 TW (+33.2%). Polysilicon prices fell sharply, with weekly drops of up to...
Thai rice farmers are confronting a sudden spike in petrol prices as the US‑Israel war against Iran disrupts Middle‑East oil supplies. The price increase adds roughly $0.30 per litre to diesel costs, eroding already thin profit margins. Thailand, which imports...
The Softs Report highlights heightened volatility across cotton, orange juice, coffee, sugar and cocoa as the US‑Iran conflict and extreme weather reshape supply dynamics. Cotton prices stay pressured by hot, dry conditions in Texas and rising input costs linked to...
UK average petrol price reached 150.11 pence per litre (≈£1.50/$1.88), with diesel at 177.68 pence (≈£1.78/$2.22), the highest levels since May 2024. The surge, tied to the Iran‑Israel conflict and rising crude, is inflating motorists’ travel costs and feeding broader inflation worries. At...
Gold has slumped 16% and silver 27% over the past month, despite heightened US‑Iran tensions. The drop stems from liquidity squeezes and waning expectations of Federal Reserve rate cuts, which have lifted the dollar and real yields. Analysts note the...
Intercontinental Exchange reported record trading activity across its global derivatives markets and NYSE equities in March 2026, driven by heightened Middle‑East geopolitical risk. Open interest hit all‑time highs, including 76.8 million commodity contracts and a total of 125.4 million futures and options...
The global dairy market hit a record‑high in 2025 as milk production surged across every major region, driven largely by unprecedented growth in the United States. U.S. herd size swelled to roughly 9.6 million cows, supporting a 2 % annual increase in...
Vietnam's Saigon Jewelry Company saw its gold‑bar price rebound 0.59% to VND 171.6 million (≈$6,517) per tael after a morning dip, while gold‑ring prices also edged higher. Globally, spot gold surged 2% to $4,466 per ounce, driven by a softer U.S. dollar...
A surge in petrol and diesel prices caused by the Strait of Hormuz blockade is creating a tailwind for lithium demand, especially from electric‑vehicle (EV) buyers seeking to avoid record fuel costs. Macquarie’s research now expects the global lithium market...
China's TOPCon M10 solar cell prices slipped for a third week, falling 0.36% to $0.0558 per watt as polysilicon and wafer costs eased. N‑type M10 wafer prices dropped 3.92% to $0.147 each, reflecting broader upstream price pressure. Production in January‑February...
Gold’s spot price has slumped 17.5% to $4,456 per ounce, pushing the metal into a technical bear market after peaking at $5,405 in January. The broader miner index (GDX) has underperformed even more, falling 28.9% since the Iran conflict began,...
The Philippines' Wholesale Electricity Spot Market (WESM) will be suspended as spot power prices are projected to hit P9 per kilowatt‑hour (about $0.16), more than double February's average of P3.50 ($0.06). The Energy Regulatory Commission (ERC) ordered the shutdown to...
The LPG market in the Philippines is set to see a record price jump, with the industry association warning that per‑kilogram rates could rise by P30 (about $0.55) as early as March 28, followed by an additional P10 ($0.18) on April 1....
Singapore is accelerating its bid to become the Asia‑Pacific gold‑trading hub, with the Monetary Authority of Singapore (MAS) and the Singapore Bullion Market Association (SBMA) outlining four strategic focus areas: capital‑market products, vaulting standards, a dedicated clearing system, and vault...
CSBP, a major Western Australian fertilizer supplier, warned that the ongoing blockade of the Strait of Hormuz is severely curtailing urea imports, a key nitrogen source for growers. To offset the shortfall, the company has accelerated domestic production of ammonium...
Oil prices jumped to $106 a barrel, spurring global market declines. Iran's denial of any talks with the United States heightened doubts about a swift cease‑fire in the ongoing West Asia conflict. European stocks and bonds fell as ECB President...
Severe drought across the U.S. Hard Red Winter wheat belt has driven Chicago July wheat up 7.25 cents to $6.30 per bushel, with CFTC data showing the largest ever gross long and a near‑record gross short position. Export sales surged to...
Retail diesel prices jumped 10% in the week to 25 March, rising 27.8 cents per litre to 303.5 cpl across Australia’s five largest cities, while petrol increased 8% to 252.2 cpl. The surge mirrors a 17% rise in the Singapore Gasoil 10 ppm benchmark, compared...
Oil prices are climbing amid the Iran‑Houthi conflict, reviving 1970s‑style headlines. UBS economist Arend Kapteyn argues that today’s economies are far less oil‑intensive, with oil spending representing a fraction of GDP. In the United States, oil’s share of GDP has...
The Thai Chamber of Commerce is urging the government to curb a recent 6 baht (~$0.16) per‑litre fuel price increase, warning it will raise production, logistics and consumer costs. It calls for securing sufficient crude‑oil supplies, even at premiums above global...
J.P. Morgan warns that recent disruptions in the Strait of Hormuz will trigger a cascading oil‑supply shock throughout April. The last tanker left the strait on Feb. 28, coinciding with U.S. and Israeli strikes on Iran, and traffic has been largely...
Sky News Australia will broadcast a one‑hour special titled "Australia’s Fuel Crisis" on Sunday 29 March at 7:30 pm AEDT, hosted by veteran journalist Chris Uhlmann. The program will dissect soaring fuel prices, shrinking emergency stockpiles, global geopolitical instability and long‑term...
