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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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Podcast - Rough Waters Ahead in H2
OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to analyze the RBA rate decision, what the latest factory data says about the economy, and what is driving both oil and gold prices.
05-07-2023 15:04 GMT by Edward Moya
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Oil remains range-bound, gold ticks lower ahead of Fed
Can oil break above its two-month range after Saudi and Russian cuts? Oil prices are higher again today but still remain within their two-month range. The rally has been aided by the cuts announced by Saudi Arabia and Russia this week but ultimately, another failure to break above the range will suggest traders have largely shrugged it off. The previous high in Brent two weeks ago came just above $77 and a failure to hit that will represent yet another lower peak over the last month or so and ma
05-07-2023 13:14 GMT by Craig Erlam
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Oil rebounds, gold edges higher
Oil quickly loses momentum despite output curbs Oil prices are rising again today after giving back all of Monday's early gains and more as the session progressed. Buoyed by the news of Saudi Arabia extending its voluntary one million barrel output cut by a month to August, alongside Russia cutting exports by 500,000 in the same month, Brent crude rallied more than 1% and looked on course to increase its winning streak to four sessions but that's not how it turned out. Now prices are rising agai
04-07-2023 10:53 GMT by Craig Erlam
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Oil rises on Saudi on Russian cuts, gold moves higher
Saudi and Russian cuts no game-changer for oil Oil prices were rising for a fourth session, with output curbs from Saudi Arabia and Russia initially giving fresh momentum to the recent recovery. The Saudis announced a one-month extension to their voluntary one million barrel cut, taking the reduction to the end of August which was swiftly followed by Russia announcing that it will cut exports by 500,000 barrels per day next month. That the market rallied only a little over 1% on the announcement
03-07-2023 11:56 GMT by Craig Erlam
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Oil gets a boost from surprise Russia output cut news but falls on weak ISM report
Saudi Arabia commits to extending voluntary cut of 1 million bpd Russia to reduce oil exports by 500K bpd US Manufacturing Activity drops the most in 3 years Oil The bottom is in place for oil after the Saudis and Russians play nice.  The oil market got a boost after the Saudis extended their production cuts and Russia surprised everyone with an export cut announcement of 500,000 bpd.  The Saudi extension should have been expected by everyone, but the Russian export cut news did surprise many e
03-07-2023 10:40 GMT by Edward Moya
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Oil is ready to rally, Gold stabilizes, SEC sends Bitcoin towards $30K
Oil Oil’s fourth straight quarterly decline should be its last one. WTI crude is trying to stabilize above the $70 level as the oil market is destined for a deficit in the second half of the year.  The crude demand outlook has too much doom and gloom priced in as the US and China outlooks should remain upbeat.  China might be buying cheaper discounted Russian crude, but soon they will require more and those purchases could broaden as they slowly deliver more economic stimulus.
30-06-2023 10:26 GMT by Edward Moya
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Oil edges higher, gold struggling on US rate concerns
Oil remains range bound but ending the week on a positive Oil prices are edging higher again today but given how they've traded over the last couple of months I'm struggling to read too much into it. The inventory data on Wednesday was bullish on the face of it and the eurozone inflation data today won't do it any harm either, but uninspiring Chinese PMIs overnight don't fill me with confidence. Broadly speaking, it's range-bound as it has been since early May, and showing little signs of breaki
30-06-2023 08:41 GMT by Craig Erlam
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Oil prices recovering, gold falls below $1900 on strong US data
Oil continues to consolidate amid an uncertain economic outlook Oil prices are continuing to recover on Thursday after falling back toward their range lows on Wednesday. The gradual consolidation that we're seeing in crude doesn't appear to be nearing an end, with the price simply fluctuating between the range highs and lows over the last couple of months. The uncertainty around inflation, interest rates, and therefore the economy may well be behind that as investors have frequently been caught
29-06-2023 12:55 GMT by Craig Erlam
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Bitcoin edges higher as Coinbase asks court to dismiss SEC lawsuit, Commodities pare earlier losses
Bitcoin continues to hold onto the $30,000 level as crypto traders await any decision with Bitcoin ETFs or with pending SEC lawsuits.  Today, Coinbase Chief Legal Officer said, “Coinbase just doesn’t list securities, period.... We have always looked to add assets that are appropriate for not only our customers, but consistent with our lawful authority."  Coinbase is hoping to get a dismissal of the SEC lawsuit that it failed to properly register its business.  An immediate decision might be toug
29-06-2023 12:30 GMT by Edward Moya
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Commodities try to shrug off Powell's hawkish message about consecutive hikes
Commodities were tested after Fed Chair Powell triple downed on the Fed's dot plots.  The dollar initially caught a bid but that was short-lived.  At the end of the forum, traders really didn't learn anything new. Oil Before the EIA report, crude prices were wavering after a larger than expected drop in inventories, countered fears that several banks will be sending the global economy into recession. Yesterday, the API report showed crude stocks declined by 2.4m bpd. Energy traders however tu
28-06-2023 15:10 GMT by Edward Moya
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Oil remains range-bound, gold under pressure
Oil prices hold in recent range Oil prices are edging higher again today after once again sliding back toward the range lows of the last few months. What's interesting is that, as we've seen previously, Brent crude failed to reach the previous low.
28-06-2023 07:56 GMT by Craig Erlam
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Oil in choppy waters, stubborn inflation weighs on gold
Oil remains volatile but range-bound amid an uncertain outlook Oil is trading a little higher on Tuesday after rebounding off the lows in very choppy conditions in recent days. While there will of course be various contributing factors behind these moves, the fact remains that oil is trading within the same range it has for almost two months and what we're continuing to see is it fluctuate roughly between the upper and lower boundaries. Brent has fallen just short of the previous lows now on fou
27-06-2023 04:22 GMT by Craig Erlam
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Geopolitical chaos, FX Intervention, and US banks’ stress test results
Russia’s weekend mutiny cast doubts on Putin’s grip on power. No major impact on markets but keep a lookout on Gold, which bounced off the key support zone of US$1,913/1,896 per ounce. Stern FX verbal intervention from Japan’s top currency official. Watch USD/JPY key near-term support at 142.50/25. US banking stocks tumbled ahead of annual key Fed’s banks’ stress test results Before the start of this new trading week, market participants were being jolted from their weekend leisure activities
26-06-2023 02:57 GMT by Kelvin Wong
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Week Ahead - Inflation and Recession Risks
While Europe appears at great risk for a recession as traders bet on aggressive rate rises by all the European central banks, the Fed is still expected to be nearing the end of their respective rate hiking campaign.  The focus in the US will fall on the PCE readings. If inflation comes down as expected, the swap futures might grow even more confident that the Fed will only deliver one more rate hike.
23-06-2023 15:16 GMT by Edward Moya
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Podcast - Tightening to a recession
OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to analyze the flash global PMIs, the UK's mortgage crisis, Elon Musk Vs Mark Zuckerberg, and the return of the crypto bulls.
23-06-2023 14:36 GMT by Edward Moya
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Economic jitters hurt oil and boost gold, Crypto unfazed
Recession risks drive safe-haven flows gold's way Oil has worst weekly decline since May Bitcoin tests highest level in a year Oil Oil prices are declining on fears that a European recession and delayed stimulus from China will spell trouble for the global growth outlook.  Next week, the heads of the major central banks will gather in Portugal and likely signal a commitment to tackle inflation with aggressive rate hikes. Energy traders are worried that the Fed and friends might cripple econom
23-06-2023 10:32 GMT by Edward Moya
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