Commodities: all news & analysis

Explore our extensive commodities news, which unveils critical insights into price movements, trends, and expert forecasts in the raw materials market. By examining price actions and understanding the factors influencing commodity values, understand current market dynamics. This page is designed to boost your research on historical trends, identify seasonal patterns, and sharpen your trading strategies across sectors such as energy, metals, and agriculture. Equip yourself with the knowledge necessary to enhance your understanding of the commodities landscape and elevate your trading decisions.

OPEC+ not as unified as it appears

Oil pares gains as traders question OPEC+ unity The Saudis got their output cut after intense negotiations over the weekend; the only downside being that no one else opted to be a part of it until the start of 2024. It became clear last week that Saudi Arabia was going to be pushing for a cut at the weekend meeting and that getting others on board may prove difficult.

05-06-2023 12:10 GMT by Craig Erlam

Podcast - Saudis lead OPEC+ production cut, RBA to come this week

OANDA Senior Market Analysts Craig Erlam and Kelvin Wong join Jonny Hart to discuss the start of the trading week, OPEC+ output cut, and RBA rate decision on Tuesday.

05-06-2023 12:00 GMT by Craig Erlam

Podcast - Huge NFP number but the US jobs report wasn't all bad

OANDA Senior Market Analyst Craig Erlam joined Jonny Hart and Trader Nick to discuss the US jobs report and what it means for the markets and interest rates. They also talked about oil prices ahead of this weekend's OPEC+ meeting and previewed the week ahead.

02-06-2023 12:43 GMT by Craig Erlam

Week Ahead - Will OPEC+ announce another cut? Deflationary spiral in China?

Oil prices are rallying at the end of the week, perhaps a sign of nerves appearing before the OPEC+ meeting this weekend. While there seems to be a widely held view that the group won't announce any further cuts, it's worth noting that the same was true at the last meeting when it announced cuts of roughly another million barrels.

02-06-2023 12:22 GMT by Craig Erlam

Energy traders afraid to be short heading into OPEC weekend meeting

JMMC and OPEC+ ministerial meeting on Sunday June 4th Gold's weekly gain hurt as traders price in one more hike Bitcoin holds onto $27,000 for now Oil Crude prices are having a strong finish to the week after the US jobs report showed the economy is not ready to head into a recession. Oil was heavier throughout the earlier part of the week on disappointing Chinese data and expectations that OPEC+ would not be able to deliver more production cuts despite the Saudi warning to short-sellers.

02-06-2023 11:34 GMT by Edward Moya

Oil edges higher ahead of OPEC, gold eyes nonfarm payrolls

Oil edges higher ahead of OPEC+ meeting this weekend Oil prices are edging higher into the end of the week, perhaps a sign of nerves appearing before the OPEC+ meeting this weekend. While there seems to be a widely held view that the group won't announce any further cuts, it's worth noting that the same was true at the last meeting and then the group announced cuts of roughly another million barrels. And while there have been comments to suggest the alliance isn't likely to cut output this weeke

02-06-2023 08:25 GMT by Craig Erlam

Oil pares losses, gold eyes nonfarm payrolls

Oil tests lows as traders not deterred by Saudi warnings Oil prices have rebounded off their lows today, having at one stage come very close to the bottom seen in March and May. It's a very interesting development coming just before OPEC+ meets this weekend and following warnings from the Saudi energy minister to "watch out". Of course, oil traders can argue that the Chinese economic rebound has stalled, manufacturing activity around the world is struggling, Germany is in recession and the US ma

01-06-2023 12:03 GMT by Craig Erlam

Oil finds support, Gold rallies into NFP, Bitcoin struggles

Gasoline fell on a weekly basis but increased by 1.3% with the 4-week average US crude inventories hit highest levels since May 12th Gold eyes $2000 level ahead of NFP Oil Crude prices were initially lower after a surprising large build was followed by a global round of disappointing manufacturing data that did not do any favors for the demand outlook. Energy traders are not sure what to expect with the upcoming OPEC+ weekend meeting. Trying to get a read on what Russia will do at the upcomin

01-06-2023 11:47 GMT by Edward Moya

Podcast - Rising Fed rate hike expectations

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They discuss today's debt ceiling vote, a hot JOLTS report, China's PMI report, and Australia's sticky inflation data. **Note this was recorded before Fed's Jefferson comment about pausing at the next meeting.

31-05-2023 16:09 GMT by Edward Moya

Stocks lower as debt deal and more Fed tightening has economy recession bound

US stocks are falling as the expected debt deal will prove to be negative for the economy as limited spending along with more Fed tightening will send the economy to a recession at the end of the year. The US doesn’t look like it will default, but recession worries, possibly stagflation risks, will make life hard for risky assets. Debt Vote The divided House will soon vote on the bill, needing a 218-vote majority for it to advance to the Senate. Voting is expected to start at 330pm est an

31-05-2023 15:57 GMT by Edward Moya

Gold rallies as debt deal progress sends Treasury yields lower

Russian oil shipments weaken but still well above last year's average Gold finds support after tumbling towards Mid-March low Bitcoin hits two-week high but still appears to be firmly anchored Oil Oil is on the ropes as upcoming week will likely contain further confirmations that China’s recovery is struggling, the US labor market is cooling, the Fed will likely deliver more tightening that will eventually cripple the economy later this year, and as everyone waits to see if the debt deal can m

30-05-2023 14:24 GMT by Edward Moya

Oil prices dip with eye on OPEC, gold higher after debt ceiling deal

How much sway does Saudi Arabia still have? Oil prices are slipping on Tuesday as traders weigh up the prospects of another OPEC+ cut this weekend. Russia's Novak last week appeared to play down the prospect of another reduction shortly after traders were warned to "watch out" by the Saudi energy minister, who hinted at another "ouching" for short-sellers. It seems Novak's words have carried more weight in the markets as traders determined that no alignment of thought will mean no deal.

30-05-2023 13:01 GMT by Craig Erlam

Podcast - Hawkish Economic Data, U.K. chancellor Hunt's support of BOE tightening, and Nvidia's AI boom

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They discuss today's debt ceiling talks, hawkish economic data releases, the UK economy, and Nvidia's AI boom.

26-05-2023 13:21 GMT by Edward Moya

Oil volatile after a week of mixed messages, US inflation bad news for gold

Oil markets volatile ahead of OPEC+ meeting next weekend Oil prices are recovering slightly after a volatile week amid conflicting commentary from key members of the OPEC+ alliance. From a "watch out" warning from the Saudi Energy Minister to a suggestion that the group will not cut output next weekend, traders have been left a little confused as to what we can expect. It may be that Saudi Arabia wants to keep traders on their toes but to make these comments and not follow through could be perce

26-05-2023 12:41 GMT by Craig Erlam

Oil higher on debt deal optimism and resilient US economy, gold struggles, Crypto steadies

Energy traders carefully monitoring for any Russian-Saudi tensions Hawkish data and debt deal optimism weigh on gold Cryptos benefitting from today's broader market rally Oil Crude prices are rising after another round of impressive economic data exemplifies how resilient the US economy remains. Debt deal negotiations appear to also be heading in the right direction, but talks could easily fall apart as the far wings of both parties will need to make concessions. Energy traders might refrain fr

26-05-2023 12:24 GMT by Edward Moya

Novak and USD crush oil prices, Gold and Bitcoin diverge

Dollar rally sends gold to lowest levels since March and the yen to the weakest levels since November Russian/Saudi in focus as Novak clarifies earlier comments Bitcoin outperforming gold as it continues to hold onto critical support Oil Crude prices are weakening as king dollar returns and after Russia slashes any Saudi hope of delivering another production cut at the June 4th meeting. Russian Deputy Prime Minister Alexander Novak said, "I don't think that there will be any new steps, becaus

25-05-2023 15:42 GMT by Edward Moya

Oil slides over OPEC, gold falls after FOMC minutes

Russia cools talk over OPEC+ output cut Oil prices are sliding again on Thursday after the Russian Deputy Prime Minister, Alexander Novak, appeared to cool expectations of an imminent output cut from OPEC+ ahead of the meeting in a little over a week. Suspicions of a second consecutive cut came as prices slipped, and remained, below $80 a barrel - the point at which the group announced a surprise cut previously - and Saudi Energy Minister, Prince Abdulaziz bin Salman, warned short speculators

25-05-2023 10:42 GMT by Craig Erlam

Podcast - Debt deal angst, RBNZ all done with tightening, hot UK inflation, improving oil fundamentals

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They give the latest update with debt ceiling talks, discuss the end of RBNZ tightening, a hot UK CPI report, and why oil prices are rising.

24-05-2023 16:20 GMT by Edward Moya

Energy Prices remain strong as most commodities weaken on debt deal and growth concerns

EIA Report: Inventories fall by 12.46 million barrels vs 932K expected build Gold struggles as sticky inflation could support Fed skip Global crypto market cap falls to $1.1 trillion Oil Oil is starting to turn bullish as demand shows signs of improvement also while energy traders heed the Saudi warning given to short-sellers. The EIA crude oil inventory was mostly bullish as demand improved across crude, distillates and gasoline. Crude has been dragged down as debt ceiling talks are still h

24-05-2023 16:00 GMT by Edward Moya

Oil prices rise after Saudi warning, gold steady ahead of FOMC minutes

Oil continues higher as short-sellers warned to "watch out" Oil prices are trading higher again on Wednesday, buoyed by the latest short-seller warning from Saudi Arabia. The prospect of another "ouching" moment is seemingly too much to bear although if past experience is anything to go by, traders may be tempted to call his bluff. Saudi Energy Minister Prince Abdulaziz bin Salman told short-sellers to watch out during his most recent comments on the market which come a little before the next OP

24-05-2023 04:41 GMT by Craig Erlam

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