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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 edges lower, no boost for gold from inflation report
How long will OPEC+ tolerate these oil prices? Oil prices are slipping a little again on Thursday after running into resistance around the December to March lows earlier in the week. This is similar to what we were seeing prior to the OPEC+ intervention last month and with a little under a month to go until the next, we may see it settle below that range. Whether the group will tolerate these levels is another thing, especially if we see the lows around $70 in Brent tested again.
11-05-2023 13:39 GMT by Craig Erlam
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Oil slips, CPI could make or break gold
Oil slips after retracing back to previous trend lows Oil prices are slipping on Wednesday after partially recovering over the last four days. Crude ran into resistance around the bottom of the December-March range lows which suggests, for now at least, traders are not of the view that OPEC+ output cuts fully offset the difficulties that lie ahead for the global economy which will ultimately weigh on demand. Further action by the cartel or calmer conditions in US banks could see oil prices bounc
10-05-2023 08:08 GMT by Craig Erlam
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Gold Technical: Bounced higher from key short-term support
Gold (XAU/USD) is holding above 2,000 key support ahead of US CPI. Short-term uptrend phase from the 19 April 2023 low remains intact. Next intermediate resistance at 2,075; its current all-time high. In our previous article “Gold has not lost its glitter”, we have highlighted the key macro factors that may have a significant influence in driving the fundamentals and price actions behaviour of Gold (XAU/USD), click here for a recap. Right now, let’s decipher its latest developments through the
10-05-2023 03:44 GMT by Kelvin Wong
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Oil gets bullish alongside gold, Bitcoin wavers
Russia claims to come close to delivering on oil cut pledge in April Gold gets groove back as debt ceiling worries simmer Bitcoin hovers near bottom of recent trading range Oil Crude prices went on a rollercoaster ride as energy traders watched a deteriorating demand outlook get countered by some bullish supply news from both the Biden administration and Russia.  Oil was lower after disappointing trade from China supported concerns their recovery post-Covid lockdowns continues to disappoint. WT
09-05-2023 15:23 GMT by Edward Moya
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Oil struggling over bank turmoil, gold eyes CPI
Oil struggling to recover after latest turbulence in US regional banks Oil traders clearly remain deeply concerned about the turbulence in the US regional banks and what the consequences could be for the US economy, alongside the ripple effects elsewhere. Twice now we've seen the price plunge on the back of bank failures and so far this time, they haven't had the helping hand of OPEC+ to repair the damage. For the next month, at least, the bullish case for oil may come from fears subsiding aroun
09-05-2023 14:19 GMT by Craig Erlam
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Oil continues rebound, Gold awaits CPI, and crypto struggles
Oil exits oversold territory China increases gold reserves for a sixth consecutive month Pepe Coin craters while Bitcoin struggles Oil Oil prices continue to edge higher as the crude demand outlook is pummeled with mixed signals.  The latest jobs report wasn’t as good as the headline implied and today’s Fed survey showed loan demand is falling off a cliff.  The oil market was extremely oversold and it will probably continue to stabilize as long as Wall Street is still confident the Fed will cut
08-05-2023 16:09 GMT by Edward Moya
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WTI Oil Technical: Evolving into minor uptrend
Last week’s intra-week loss of -17% has been recovered partially. Positive technical analysis elements sighted; “Morning Star” daily Japanese candlestick. Short-term overbought condition in hourly RSI highlights the risk of a minor pull-back. West Texas Oil Technical Analysis – Minor uptrend intact but risk of a pull-back Fig 1:  West Texas Oil trend as of 8 May 2023 (Source: TradingView, click to enlarge chart) The West Texas Oil (a proxy for the WTI crude oil futures) managed to stage a
08-05-2023 06:38 GMT by Kelvin Wong
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Volatile session for commodities and cryptos
After falling almost $20, oil rebounds as demand fears ease Gold tumbles from record highs as Fed rate cut bets get pushed back Bitcoin reverses initial NFP dip and follows broader market rally Oil Oil has found a bottom as risk appetite improves as banking turmoil eases and after employment reports from North America showed significant job strength and defied calls of a looming economic slowdown. After falling $19.74 from the April 12th high, WTI crude has formed a clear bottom. ​ The oil fund
05-05-2023 12:39 GMT by Edward Moya
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Oil remains volatile, gold eyes nonfarm payrolls
A wild week for oil as economic fears mount amid turbulence in US banks It's not just some regional US banks that have experienced a run recently oil traders have been at it too. The sell-off in March was triggered by the SVB collapse and everything that followed and it was only when OPEC+ stepped in that the price recovered.
05-05-2023 08:05 GMT by Craig Erlam
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May the 4th be with you; Regionals need A New Hope
Attack of the oil shorts; Demand outlook slashed as recession risks grow by the day Gold bulls Awaken; Bank contagion fears drive safe-haven flows Bitcoin's regulatory saga; banking jitters unable to fuel larger rally It doesn’t seem like it was a long time ago that we had a full-blown global banking crisis that set Wall Street back for many years.  Today, US stocks are falling as bank turmoil is leading to the rapid collapse of PacWest and Western Alliance. Sticky inflation and a slowly coolin
04-05-2023 11:44 GMT by Edward Moya
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The Fed is done hiking rates, dollar bears in control, Commodities mixed
Pricing of swaps were volatile during the FOMC decision, settling at a 6.3% for a quarter-point hike at the June 14th meeting Dollar weaker across the board as the yen surges 1.1% Oil crushed as supply and demand indicators remain bearish The Fed’s tenth straight rate hike will likely be the last one in this cycle.  The Fed is concerned that tighter credit conditions will weigh on economic activity and hiring, while helping maintain disinflation trends.  Credit tightening is about to cripple th
03-05-2023 15:55 GMT by Edward Moya
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A busy Fed Day morning
Last round of data supports one last 25bp rate rise today Treasury announces buybacks in 2024 WTI crude plunges below as demand fears grow US stocks are slightly higher as the service sector continues to soften, bolstering expectations that the Fed will be ready to pause tightening after delivering one last rate hike.  The economy is weakening, the labor market is softening and that seems to be enough to convince a lot of traders that today's quarter-point rate rise to 5.25% will mark the termi
03-05-2023 10:56 GMT by Edward Moya
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Oil takes a tumble, gold eyes Fed
Bank woes send oil prices tumbling once more Oil prices have been crushed again over the last 24 hours as US regional bank shares sold off heavily and fuelled fears of a more significant economic downturn this year. The warning signs are there that investors are extremely anxious about the global economic prospects, particularly the US, and the data is slowly catching up which should deter the Fed from hiking today but it in all likelihood won't. The US may be heading for recession and they may
03-05-2023 07:44 GMT by Craig Erlam
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Gold and Bitcoin surges on banking concerns, while oil stumbles
Low trading volumes and a deteriorating outlook send oil prices sharply lower Gold surges above $2000 level as banking concerns return Bitcoin still capped by $30,000 level Oil It got ugly a lot faster than any oil trader expected. ​ Energy traders were turning constructive, even last week, the recent oil bear, Citi’s Ed Morse said ‘were close to a bottom in oil prices.’ Oil is in the danger zone as the banking crisis is crippling the short-term outlook for the economy and driving fears that we
02-05-2023 15:40 GMT by Edward Moya
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Oil prices stabilize, gold consolidates ahead of FOMC
Were fears of oil deficit premature? Oil prices appear to have stabilized in recent days, not far from the middle of the range they traded within from early December to March. The post-OPEC+ gains have now been wiped out which suggests traders are now of the belief that the economic outlook has deteriorated to the extent that the output cut won't create the deficit that was feared when some were calling for $100 oil.
02-05-2023 09:06 GMT by Craig Erlam
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Strong dollar weakens commodities, Cryptos lower as banking drama dies down
Poor PMI data from China drive crude demand concerns Gold struggles as yields surge; 10-year Treasury yield rises 14.4 basis points to 3.566% Bitcoin falls 3.8% to $28,200 Oil The ISM manufacturing report showed prices paid surged to the highest level since July as steel, copper, plastics, aluminum and diesel. The economy appears to be weakening at a slower pace and that should be good news for the crude demand outlook.  Crude prices are paring losses on optimism the economy can strengthen now
01-05-2023 14:44 GMT by Edward Moya
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