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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.

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Oil sellers fret over Saudi threat, API Inventory decline 6.799 million barrels
API inventory data posts 6.799 million barrel drop vs 0.525 million expected build, Cushing rises 1.71 million Gold steadies as dollar rally extends Bitcoin streak of monthly gains is in jeopardy Oil On Wall Street, we have the mantra of ‘Don’t fight the Fed’, but that is currently being tested as investors continue to price in rate cuts for later this year.  Energy traders have quickly learned that when it comes to oil prices, you ‘Don’t fight the Saudis’ as they will do whatever it takes to d
23-05-2023 16:36 GMT by Edward Moya
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Oil edges higher, gold remains supported at $1960
Oil edges higher after fresh warnings from Saudi Energy Minister Oil prices have nudged higher today following another warning from Saudi Energy Minister Prince Abdulaziz bin Salman that short-sellers will be "ouching" as they did in April. "Watch out" was the message ahead of the next OPEC+ meeting early next month in what may be a sign that the group is considering cutting output once more amid a more bleak global economic outlook. Of course, actions speak louder than words and traders haven't
23-05-2023 10:47 GMT by Craig Erlam
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Gold has not lost its glitter (Part 2)
Gold (XAU/USD) has dropped by -5.6% from its recent 52-week high of US$2,067. Recent price weakness of gold (XAU/USD) is due to the unwinding of potential long hedges and large speculators’ positions ahead of a potentially positive outcome of the US debt ceiling extension negotiations. Longer-term factors such as global stagflation risk and technical analysis are still in favour of a potential multi-month bullish scenario for gold. The bullish momentum of the shiny metal, gold (XAU/USD) seems
23-05-2023 02:42 GMT by Kelvin Wong
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Oil remains choppy, gold may enter deeper correction
Oil generating some bullish momentum but remains lower Oil prices are marginally higher at the start of the week but broadly speaking we're still seeing choppy trade below the December to March range. Bank failures was the catalyst for the price breaking below here with an intervention from OPEC+ temporarily helping it to recover but more may be needed. Despite the negative developments for the global economy and, by extension, oil prices, we are seeing signs of more promising momentum, and that
22-05-2023 12:02 GMT by Craig Erlam
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Commodities and Cryptos stuck in wait-and-see mode
OPEC must be frustrated oil prices have yet to stabilize Gold struggles after hawkish Fed speak Bitcoin vulnerable but still holding lower boundaries of key range Oil Crude prices are in no man’s land as energy traders look to see what happens with both debt ceiling talks and with US and China tensions. Chevron’s acquisition of driller PDC Energy will help their operations in the US production basins, but that doesn't mean we will see an immediate impact with US output over the short-term.
22-05-2023 11:53 GMT by Edward Moya
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Gold Technical: A potential short-term downtrend in play
Gold (XAU/USD) has dropped by -5.6% from its recent 52-week high of US$2,067. Factors that caused the recent drop could be the bounce seen in the US dollar and the unwinding of long hedges linked to the US debt ceiling negotiations. 50-day moving average is now acting as a key intermediate resistance at US$1,991. The bullish momentum of the shiny metal, Gold (XAU/USD) seems to have dissipated in recent weeks after it printed a fresh 52-week high of US$2,067 on 4 May 2023 and staged a decline of
22-05-2023 05:49 GMT by Kelvin Wong
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Gold rebounds on Powell Pause hopes and Debt-Limit Roadblock
US oil rig counts fall 11 to 575 Gold starts to get shine back as safe-haven demand returns Bitcoin steadies near lower boundaries of trading range Oil Crude prices were having a great week as the US economic outlook dramatically improved as lawmakers seem likely to reach a deal on the debt ceiling. Debt ceiling optimism quickly disappeared on Friday and that sent oil prices sharply lower.  The news wasn’t all negative for crude prices as Fed Chair Powell paved the way for a June hold. China
19-05-2023 13:16 GMT by Edward Moya
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Oil heads higher, gold under pressure
Are we seeing some bullish momentum in crude prices? Oil prices are rebounding again today alongside a slight uptick in market sentiment more broadly. Perhaps some of the confidence in Washington that a deal on the debt ceiling isn't far away, amid "steady progress", is filtering through to the markets, although default was almost certainly never a realistic possibility in the first place. Crude has gathered a little upward momentum over the last week or so, with prices making higher lows on the
19-05-2023 09:56 GMT by Craig Erlam
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Oil and gold both take a tumble
Oil Crude prices are sliding as the dollar rallies on bets that the Fed might not be tightening. ​ Good news for the economy is now bad news for the crude demand outlook as economic resilience will force the Fed to kill the economy. Oil is becoming an easy trade, as it will track the dollar and not so much anything else.
18-05-2023 13:28 GMT by Edward Moya
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Oil and gold prices head lower
Oil remains in lower range as traders eye June OPEC+ meeting Oil prices are slipping on Thursday after surging the day before amid optimism around debt ceiling talks. I'm still far from convinced that traders are taking the threat of default seriously but the closer we get to the deadline, the more we could see it influence markets simply as a result of more risk being priced in. Broadly speaking the picture is unchanged.
18-05-2023 11:45 GMT by Craig Erlam
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Stocks lower on Home Depot's warning and looming debt ceiling drama
10-Year Treasury yield rose 5.1bps to 3.553% Canadian inflation delivers first annual pace acceleration in 10 months Fed's Mester notes they have yet to reach significantly restrictively rates US stocks are declining after Home Depot delivered a downbeat outlook for the retail consumer and Speaker McCarthy said debt ceiling negotiations have had no progress.  Wall Street is bracing for something bad to happen, but no one has an idea on what will be that catalyst.  It could be a debt ceiling imp
16-05-2023 13:08 GMT by Edward Moya
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Oil prices steady, debt ceiling stalemate could boost gold
Oil settles in lower range and further declines may prove challenging Oil prices are marginally higher on Tuesday but remain below the December to March range. The risks remain tilted to the downside amid a sluggish recovery in China, uncertainty around the US economy and banking system, and the impact of much higher interest rates on demand. The primary bullish case for oil prices comes from OPEC+ and the prospect of another output cut in a couple of weeks but even that has been downplayed.
16-05-2023 06:55 GMT by Craig Erlam
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Oil pushes higher, gold steady
Oil pushing higher but economic fears continue to weigh Oil prices are rebounding today but how long will that last? The oil price was hammered once more by US banking fears earlier this month and I'm not sure those have yet receded to the extent that oil can make a full recovery without another OPEC+ intervention. If credit conditions ease over the coming months, allaying economic fears for the world's largest economy, oil prices could bounce back without assistance but it seems a little premat
15-05-2023 14:51 GMT by Craig Erlam
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Oil rebounds on weaker dollar, Gold wavers, Bitcoin off two-month lows
Oil falls $10 since beginning of the year Gold steadies after three-day drop Crypto ETFs see $163 million in net outflows in the past month Oil Crude prices pared gains after a disappointing Empire State manufacturing report showed the Fed’s aggressive rate hiking campaign is starting to really knock down the economy.  Turkey’s Ceyhan port has yet to resume flows with Baghdad, and government approval might take longer given the lack of clarity with the presidential election.  The dollar rally h
15-05-2023 11:21 GMT by Edward Moya
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Strong dollar takes down oil, gold, and crypto
US SPR hovers around 362 million barrels, down from 593 million seen at beginning of 2022 Gold ETFS net purchases post largest one-day increase since mid-April Bitcoin falls to a 2-month low Oil Crude prices are getting punished as the dollar rally extends.  Several oil headlines have provided mixed signals for energy traders; Iraq and Canadian supplies have seen some disruptions, while Iraq signals that there will be no additional reduction from OPEC+.  Iraq oil minister Hayan Abdel-Ghani als
12-05-2023 13:53 GMT by Edward Moya
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Oil slightly higher, gold continues to drift lower
Oil settled into lower range but focus remains on banks and OPEC+ Oil prices were drifting lower earlier in the day but have recovered to trade modestly higher as we near the end of the trading week. It would appear traders are waiting for one of two events to dictate the path of travel going forward; another bank failure or an OPEC+ production cut.
12-05-2023 08:26 GMT by Craig Erlam
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Oil pops after US signals SPR refill could begin in June
Oil pares losses after Energy Secretary Granholm says oil purchases for SPR could begin in June Gold lower on stronger dollar Crypto struggles as Wall Street prepares for market stress from debt ceiling drama Oil Oil were heavy after another round of Chinese data, this time money metrics, confirmed their economic reopening from COVID continues to disappoint.  Energy traders are somewhat shrugging off the latest OPEC monthly report that contained a slight upgrade with Chinese oil demand.  China
11-05-2023 15:35 GMT by Edward Moya
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