India's NMDC Raises Iron Ore Prices in May
India's state‑run miner NMDC increased its iron‑ore prices for the fourth month in May, setting the 10‑40 mm Baila 65.5% lump ore at Rs 5,500 per tonne (about $58) and 64% Baila fines at Rs 4,700 per tonne. Both grades rose Rs 200 per tonne from April. The hikes come despite a recent dip in domestic steel prices, which fell to Rs 57,250 per tonne for hot‑rolled coil by the end of April. NMDC also reported a 16% year‑on‑year rise in ore production to 4.64 million tonnes in April.
UAE's Fujairah Bunker Sales Rebound in April
Marine fuel sales at Fujairah, the world’s fourth‑largest bunkering hub, rebounded in April, climbing to 57,000 t (910 t/d) from a March low of 29,000 t (460 t/d). Very‑low sulphur fuel oil (VLSFO) volumes rose to 37,000 t, while high‑sulphur fuel oil (HSFO) increased to...
Gasoline Costs 50% More Than It Did Before the Iran War
U.S. regular gasoline surged to an average $4.48 per gallon on May 5, a 50% increase since the Iran war began. The spike follows a 31‑cent weekly rise driven by crude oil climbing to $112 a barrel as the Strait of...
Bunker Surcharges Driving Intra-Asia Rates up, Even as Demand Falls
Intra‑Asia container freight rates have risen again in early May, with the Korea Ocean Business Corporation’s Container Composite Index showing a Busan‑South‑East Asia price of $1,097 per 40‑ft unit, a $12 fortnightly increase and a 16% jump from March’s $933...
Macquarie Strategists Expect Another USA Crude Inventory Draw
Macquarie strategists, led by Walt Chancellor, project a 5.0 million‑barrel draw in U.S. crude inventories for the week ending May 1, following a 6.2 million‑barrel decline the week before. The forecast assumes a modest 0.1 million‑barrel‑per‑day increase in refinery runs, while net imports rise...
Strains in the Food Supply Chain Are Pushing California Prices Higher
California's food supply chain is under strain as rising fuel, fertilizer and water costs force farmers to cut acreage and consolidate, while grocers absorb higher operating expenses. Diesel prices have topped $7 per gallon and fertilizer affordability has plummeted, squeezing...
Oil Futures Fall 8% on Report U.S. and Iran Are in Talks on Memo to End the War
Oil futures plunged after a report that the United States and Iran are drafting a memo to end the war. Brent fell 7% to $101.87 per barrel and WTI dropped 8% to $94.32. The price slide followed President Donald Trump’s...
Glencore Q1: African Copper Cathode Surges 68%, Cobalt Production Falls 39% Y-O-Y
Glencore reported a 68% surge in copper cathode output from its African DRC assets in Q1 2026, while cobalt production dropped 39% year‑on‑year as the company complies with the DRC’s new export quota. The Antamina joint venture in Peru became...
CACP Recommends Revising Ethanol Price in View of Increase in Sugarcane FRP
The Commission for Agricultural Costs and Prices (CACP) has urged the Indian government to raise the ethanol price derived from sugarcane‑based feedstock, citing a recent ₹10 (≈$0.12) per quintal increase in the fair and remunerative price (FRP) of sugarcane, now...
European Gas Traders Rush Into Options as Winter Price Risks Mount
European gas traders are rapidly increasing their purchase of options as winter approaches, seeking protection against heightened price volatility. In the past month, volumes of TTF winter call options jumped roughly 45% year‑over‑year, pushing implied volatility to about 30%, the...
How Project Vault Is Being Built: Hotter Commodities
Project Vault, backed by up to $10 billion from the U.S. Export‑Import Bank, creates a privately governed, demand‑aggregation platform for critical‑minerals inventory. By pooling OEM commitments and allowing trading houses to provide financing and logistics, the structure shifts inventory risk off...
War-Driven Fuel Surge Sends Global Freight Costs Higher
Fuel prices are soaring worldwide as Brent crude hovers near $126 per barrel, its highest since February. In the United States diesel reached $1.45 per litre, a 42% jump since late February, while the European average climbed to about $2.20...
Soaring Metal Prices Give Sibanye-Stillwater Stellar Start to 2026
Sibanye-Stillwater’s March‑quarter adjusted EBITDA surged 371% to R19.4bn (~$1.0bn) driven by record‑high gold and platinum prices, despite flat production and higher costs. Platinum output rose 2% to 11,920 kg at an AISC of R24,629/oz (~$1,300/oz), generating R12.4bn EBITDA, while gold output...
RAC Fuel Price Warning: Why Drivers May Pay More Even as Oil Falls
The RAC warns UK drivers that a recent 5p‑per‑litre jump in wholesale fuel costs could push pump prices higher, even as crude oil prices have slipped. Petrol now sits around 157p/L (£2.00/$2.55) and diesel near 188p/L (£2.40/$3.05), meaning a typical...
CNBC's UK Exchange Newsletter: It's Not the 1970s, but the Oil Shock Is Still Biting Hard
Rising oil and gas prices have pushed UK consumer price inflation to 3.3% and sparked concerns of a second‑round wage surge that could force the Bank of England to tighten policy. Electricity prices remain the highest among major economies, averaging...
Regional Cattle Markets Wrap: Southern Markets Transition to Seasonally Tight Supply
Australian cattle markets are shifting from a forced turnoff in the south to a seasonally tight supply environment. Over the past few years, southern breeding herds have been cut by 20‑30%, constraining feeder and slaughter‑weight cattle for the next two...
Lamb Producers Pass-In Lines as Saleyard Demand Fluctuates
Victorian lamb finishers are increasingly passing lines at Bendigo because saleyard bids are falling short of processor grid rates, with offers under AU$12/kg (≈US$8/kg) since mid‑May. Agencies rejected about 200‑300 lambs, including a batch of 80 heavy Merinos offered AU$9‑10.5/kg...
Supermarket Inflation: Falling Oil Prices Help Keep Costs Down at the Till
City AM’s informal price check across Tesco, Sainsbury’s and Waitrose shows supermarket inflation hovering near zero in May. A 500 ml bottle of rapeseed cooking oil dropped 14 % on average, offsetting price hikes in items like chopped tomatoes (+12.6 %) and tenderstem broccoli...
US Shale Oil Producers Are Wise to Avoid the Temptation of Higher Prices
U.S. shale producers are resisting the lure of record oil prices despite crude trading above $100 per barrel. While the Permian Basin’s break‑even for new wells has risen to $67 a barrel, operators face tight rig availability and supply‑chain constraints...
Gold Tops $4,650 as Weaker Dollar and Iran Peace Hopes Lift Precious Metals
Gold surged past $4,650 an ounce on Wednesday, buoyed by a weaker U.S. dollar and growing optimism that Washington and Tehran are moving toward a cease‑fire. The rally was reinforced by a pullback in crude oil prices, which trimmed the...
Oil Futures Markets Still Too Complacent About Supply Shock
Oil futures are trading $20‑$30 per barrel below physical spot prices as the Strait of Hormuz remains closed, underscoring a market underestimation of the ongoing Middle East supply shock. Physical grades like Forties, Troll, Cabinda and Sverdrup have surged to...
Oil Extends Decline as Trump Says ‘Great Progress’ in Iran Talks
Oil prices fell for a second consecutive day after President Donald Trump announced "great progress" toward a final agreement to end the war with Iran. West Texas Intermediate slipped toward $100 a barrel, while Brent settled near $110, reversing earlier...
DR Congo’s Cobalt Miners Pivot To Copper Amid Price Crash
The Democratic Republic of Congo is curbing cobalt output and imposing strict export quotas as prices plunge, while redirecting capital toward copper, where demand from AI data centers and electric vehicles is surging. Glencore cut cobalt production by 39% year‑on‑year...
Gold Rises as Trump Touts Progress with Iran and Dollar Falls
Gold prices climbed to about $4,590 an ounce, up roughly 0.8% after President Donald Trump announced "great progress" toward a final Iran agreement. The comment eased inflation concerns, prompting a 0.2% dip in the dollar index and making gold cheaper...
Comparative Fuels, May 5, 2026
Energy Intelligence’s May 5, 2026 Comparative Fuels report presents a snapshot of U.S. energy commodity prices expressed on a $ per MMBtu‑equivalent basis. The table ranks natural gas, coal, crude oil and electricity, highlighting that gas traded near $3/MMBtu while coal hovered around...
U.S. Oil Can’t Fill the Middle East Supply Hole
U.S. crude exports hit a record 5.2 million barrels per day in early May as Middle East supply disruptions force the United States to act as a “supplier of last resort.” The surge has drawn down the Strategic Petroleum Reserve, emptied...
Oil Prices Slide as Mideast Ceasefire Holds Despite Attacks
Oil futures and refined product prices slipped on Tuesday as the market absorbed mixed signals from the Middle East. Washington reiterated that the cease‑fire between Israel and Hamas remains intact, even as Iranian forces launched multiple attacks on U.S. naval...
Gas Needed to Replace Offline Nuclear Capacity, May 5, 2026
The Energy Intelligence report highlights that rising natural‑gas demand will be required to fill the gap left by nuclear reactors going offline across the United States and Europe. Analysts estimate that up to 30 GW of nuclear capacity could be retired...
US Gasoline Inventories Face Record Summer Lows
U.S. gasoline inventories are projected to fall below 200 million barrels by the end of August, the lowest seasonal level since 2014. Morgan Stanley’s base‑case scenario expects stockpiles to reach 198 million barrels, a record low for any time of year, while...
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PAIN AT THE PUMPS: Department of Mineral and Petroleum Resources Reduces Diesel Price Hike After Significant Miscalculation
South Africa's Department of Mineral and Petroleum Resources (DMPR) corrected a miscalculation that had initially set the diesel wholesale increase at R6.19 per litre (≈$0.33) to a lower R5.27 per litre (≈$0.28), bringing the price to R31.17/L (≈$1.64). The petrol...
Closing Grain and Livestock Futures: May 5, 2026
U.S. grain and livestock futures closed mixed on May 5, 2026. Corn slipped 5.75 cents to $4.80 per bushel while soybeans fell 11.25 cents to $12.11. Livestock prices rose, with live cattle up $1.47 to $253.22 and feeder cattle gaining $5.70 to $372.30. The...
REMX: Why Rare Earths Are Becoming The New Oil
The VanEck Rare Earth and Strategic Metals ETF (REMX) gives investors direct exposure to the escalating U.S.-China rare‑earth rivalry. The author recommends it as a roughly 5% satellite position in aggressive portfolios because of its concentration and asymmetric China risk....
2026 Ethanol Exports Remain on Pace to Shatter 2025 Record
U.S. ethanol exports in the first quarter of 2026 reached 639.8 million gallons, a 20% increase over the 2025 record pace. March alone saw 217.8 million gallons shipped, up 4% from February, driven by strong demand from Canada, the European Union and...
Fed's Barr Says Gas Prices Could 'Bleed' Into Inflation
Federal Reserve Governor Michael Barr warned that the ongoing Iran‑Israel conflict could push gasoline and fertilizer prices higher, potentially feeding broader inflation. He noted that U.S. natural‑gas markets are relatively insulated because they are not fully integrated into global markets,...
Energy Market Outlook: Midstream Resilience & the Nuclear Renaissance
Energy has become the best‑performing sector in the S&P 500 in 2026, delivering over 30% total‑return as oil prices surged amid Middle‑East tensions. Midstream operators and master‑limited partnerships, insulated from commodity swings, are offering yields near 7% and are positioned to...
Nepal to Procure 80,000 Tonnes of Fertiliser From India as Iran Disrupts Global Supply Chains
Nepal will buy 80,000 tonnes of fertilizer from India under a government‑to‑government agreement to offset global supply shocks caused by the West Asia war. The shipment comprises 60,000 tonnes of urea and 20,000 tonnes of di‑ammonium phosphate, funded by a...
Tell Us How High Gas Prices Have Affected Your Finances
Gas prices in the United States have surged to nearly $4.50 per gallon, about $1 higher than a year ago, following the outbreak of war with Iran. The New York Times is soliciting reader submissions to gauge how the spike...
Aluminum Jumps the Most in Three Weeks as US-Iran Truce Holds
Aluminum surged 2.1% on the London Metal Exchange, marking its strongest intraday gain in three weeks as the US‑Iran cease‑fire held steady. The rally follows heightened geopolitical tension after missile strikes in the Persian Gulf, but officials confirmed the truce...
Crude Oil Plunges Amid U.S. Measures To Restart Traffic Across The Strait Of Hormuz
Crude oil prices tumbled on Tuesday after the United States launched “Project Freedom,” a naval operation aimed at reopening the Strait of Hormuz. The move eased supply‑risk fears, sending June WTI down $3.80, or 3.57%, to $102.62 a barrel. U.S....
Super Dispatch: Diesel Price Volatility Strains Auto Transport Margins
Super Dispatch's Fuel and Transport Cost Tracker shows diesel prices hovering around $5.35 per gallon, about $1.80 higher than a year ago, and spiking to $5.64 in a single week. The surge has lifted auto‑transport costs by 16.7% to $0.98...
The Iran War Sent Jet Fuel Prices Sky-High. Here's What Air Travelers Should Know
Jet fuel prices have roughly doubled since the start of 2024, a surge tied to the Iran conflict that has already forced Spirit Airlines into bankruptcy. Delta announced it will stop providing snacks and drinks on domestic flights under 350...
Global Oil Reserves Plunge at Record Pace as Middle East War Strains Supplies
Global oil inventories shrank by a record‑fast 12 million barrels in a single week, the steepest drawdown since 2020. The ongoing Middle East conflict has knocked roughly 1 million barrels per day of regional output off the market, tightening supplies further. In...
Gold Advances As "Project Freedom" Enters Second Day, Easing Oil Prices
Gold prices rebounded on Tuesday, climbing to $4,570.60 per ounce as the United States launched “Project Freedom” to reopen the Strait of Hormuz for neutral vessels. The operation, backed by roughly 100 aircraft, 15,000 troops and guided‑missile destroyers, eased oil‑price...
End of Open Consultation on Methodology for Ferro-Molybdenum In-Whs Rotterdam; Molybdic Oxide In-Whs Rotterdam, Busan
Fastmarkets closed its open consultation on April 27 for the pricing methodology of ferro‑molybdenum (65% Mo) and drummed molybdic oxide (57% Mo) in Rotterdam and Busan. The review covered price specifications, calculation formulas, and publication frequency to align with IOSCO...
War Puts LNG Future in the Spotlight
Asian imports of liquefied natural gas plunged to a seven‑year low as the Middle East war cut roughly a quarter of global LNG supply. The shortage drove spot prices to multi‑year highs and sparked a scramble for the limited cargoes...
Wheat Crops Wither, Herds Thin as Spring Drought Deepens
An intense spring drought now grips nearly 90% of Nebraska and Oklahoma, pushing the Great Plains toward record‑low winter wheat conditions and forcing cattle producers to confront soaring feed costs. USDA data show only 30% of the U.S. winter wheat...
S&P Global: Oil Markets Face 'Double Depletion'
S&P Global warns that oil markets are entering a ‘double depletion’ phase, where demand is falling while inventories are being drawn down sharply. Global liquids demand in Q2 2026 is projected to be about 5 million barrels per day lower than...
Western Heat Risk Builds as Weak Hydro Raises Late Summer Natural Gas Price Upside
Forecasts indicate a hotter‑than‑normal summer across the western United States, while a weaker hydropower season erodes the traditional electricity cushion. The combination is expected to shift natural‑gas‑fired power plants from shoulder‑season balance to tighter, more volatile operations by late summer....
Rockies Natural Gas Discount Narrows as West Pull Strengthens
Mild winters have left the Western U.S. natural‑gas market oversupplied, pushing prices toward the $1.00/MMBtu level. Recent data show the Malin‑to‑Opal spread hitting a one‑month high, indicating the discount between the two hubs is narrowing. A hotter-than‑average spring and summer...
Will the US Serra Verde Acquisition Help Break China’s Rare Earth Monopoly?
On April 20, USA Rare Earth announced a $2.8 billion acquisition of Brazil’s Serra Verde Group, backed by a $565 million loan from the U.S. International Development Finance Corporation. The deal includes a 15‑year government‑backed offtake vehicle that will channel all of Serra Verde’s rare‑earth ore...