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.

Oil rally hits wall, Gold eyes record, Ethereum's successful upgrade

Oil slumps 1%, Delta optimistic on Q2 travel demand Gold less than $20 from record territory Ethereum rallies above $2,000 following Shapella Upgrade Oil It looks like the rally in crude prices has finally hit a wall. It was a busy week for energy traders with the EIA short-term energy outlook, Colombia’s global energy summit, the OPEC monthly report, and nationwide strikes impacting French oil product shipments. WTI crude couldn’t quite rally above the $83.45 level and traders decided that

13-04-2023 14:44 GMT by Edward Moya

Oil gets a boost from CPI and EIA reports, Gold wavers, Bitcoin profit-taking

Oil nears 2023 high Gold will have to wait for its record run Bitcoin rally exhausted as profit-taking settles in Oil Crude prices are rallying after a moderating inflation report was followed by an EIA report that highlighted tightness at Cushing and strong gasoline demand. In addition to a double dose of bullish reports, oil got a boost from Energy Secretary Granholm's comment that said the US wants to soon bring back the Strategic Petroleum Reserve (SPR) back to pre-Ukraine War levels. Sh

12-04-2023 14:37 GMT by Edward Moya

Fed dovishness emerges ahead of pivotal CPI report, Oil and gold rally, Ethereum's Shapella Upgrade is here

Stocks get a boost from a double dose of dovishness from Williams and Goolsbee Commodities rally as dollar softens Ethereum Shanghai Upgrade is here US stocks are mixed heading into a pivotal inflation report that should support one more rate hike by the Fed. Today’s headlines didn’t tell Wall Street anything it didn’t already know: IMF trimmed their growth outlook, Fed’s Williams supported one more hike, and CarMax earnings showed consumers are leaning towards older vehicles. CarMax is rally

11-04-2023 15:03 GMT by Edward Moya

Oil drifts lower, Gold back at $2000, Bitcoin resilience

Oil lower given the risk-off tone on Wall Street Gold lower as dollar rallies as Fed rate hike bets get locked in Bitcoin rallies back towards upper boundaries of key range Oil Crude prices are drifting lower as most energy traders are still on the sidelines until we get a clearer picture on the global growth outlook. There have been a lot of headlines but nothing is moving oil today as prices appear content hovering above the $80 given all the supply challenges. Rising tensions between Chin

10-04-2023 11:48 GMT by Edward Moya

Week Ahead - Can CPI, Retail Sales, and Bank Earnings derail Fed rate hike odds?

The US labor market is softening, but still remains tight and that should keep the door open for policymakers to raise rates again at the May 3rd policy meeting. The focus now shifts to whether disinflation trends can get back on track. The March inflation report is expected to show a slower monthly pace of 0.2%, down from 0.4%, while headline inflation reading is expected at 5.2% year on year, down from February’s 6.0%.

07-04-2023 11:33 GMT by Edward Moya

Oil’s OPEC+ hangover, Gold profit-taking, Bitcoin’s moment to shine

Oil's third weekly gain all thanks to OPEC+ Gold down from 13-month high as profit-taking kicks before record highs Bitcoin hovers near recent highs Energy traders have an OPEC+ hangover as oil prices remain anchored. It seems WTI crude isn’t going to budge from the $80 a barrel level even as the headlines suggest the US economy is quickly weakening.

06-04-2023 14:01 GMT by Edward Moya

Oil consolidates near winter highs, record high ambitions for gold bulls

Are calls for $100 oil premature? The surprise OPEC+ output cut continues to dominate price action in oil markets. The reduction was substantial but pre-emptive which has left traders questioning whether this was just a price issue or a belief that the global economy is heading for a difficult period.

06-04-2023 11:50 GMT by Craig Erlam

Commodities and Bitcoin rallies stall

Oil inventories drop as Saudis raise prices Gold rally stalls ahead of $2050 Bitcoin anchored at $28,000 Oil Crude prices are wavering after weakening US economic data was countered by a larger than expected draw with stockpiles as demand across all products roared back. Energy traders digested a round of US data that suggests the world’s largest economy is headed towards a recession, but then had a rather bullish EIA crude oil inventory report that was immediately followed by a decision from

05-04-2023 16:28 GMT by Edward Moya

Oil holds onto OPEC gains, gold punches past $2000

Oil holds gains after OPEC+ cut but remains around recent highs Oil prices are consolidating after the early week surge in the aftermath of the OPEC+ announcement. The decision to cut output has proven to be very controversial, much like the two million barrel reduction in October, but just like that, there's no guarantee it will lead to dramatically higher prices. In fact, at this stage crude is only trading around the highs of the last four months and it's tested these levels on a number of oc

05-04-2023 04:47 GMT by Craig Erlam

Oil rally hits a wall, Gold shines, Keep your eyes on Bitcoin this Friday

Commodities have been supported by a weaker dollar Shortened Trading Week impacting flows Oil rally runs out of steam The crude rally hit a brick wall as market pessimism grows that US economy is headed towards a recession. Yesterday was all about the shock from the surprise OPEC+ production and today is about a weakening economy and growing consensus that a recession will happen later this year. This is a tough shortened trading week given Good Friday holiday for energy traders. A pivotal

04-04-2023 15:53 GMT by Edward Moya

Oil powers higher, gold eyes lofty $2000 level

Oil continues higher in the aftermath of the surprise OPEC+ output cut Oil prices are higher again on Tuesday, adding to their substantial gains on Monday following the shock production cut from OPEC+. The decision to reduce output despite no prior warning - quite the opposite in fact - and without a clear view of the demand outlook in light of recent events highlights just how driven by price and speculation the group is, despite its previous insistence otherwise. There may have been other fact

04-04-2023 08:20 GMT by Craig Erlam

Market Insights Podcast (Episode 551)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discuss the OPEC+ shock cut, Tesla's record quarter of deliveries, and talk cryptos.

03-04-2023 15:19 GMT by Edward Moya

Oil surges after OPEC+ surprising output cut, gold shines

Oil surges after OPEC cuts Oil prices surged after OPEC+ surprised energy markets with a production cut announcement of more than 1 million barrels a day. This oil production cut follows the group’s 2 million bpd reduction of output made in October. OPEC was signaling that they could keep production steady but it is clear that they are not confident with the demand outlook. It is also important to appreciate the timing of the announcement. OPEC didn’t wait for Monday’s JMMC meeting, but

03-04-2023 14:11 GMT by Edward Moya

Stocks waver after ISM Manufacturing hits weakest levels since 2020, Tesla’s disappointing record deliveries, Bitcoin liquidity dries up

Wall Street is trying to find its footing after a weaker-than-expected ISM manufacturing report countered OPEC’s surprise production cut that triggered inflation jitters. The S&P 500 index initially opened higher, led by the energy sector, healthcare, and consumer staples as traders rushed to buy anything energy and defensive.

03-04-2023 14:08 GMT by Edward Moya

WTI crude - Oil spikes as OPEC+ surprises markets with production cut

OANDA Senior Market Analyst Craig Erlam discusses the moves in WTI crude after OPEC+ surprised markets by cutting output by more than a million barrels per day.

03-04-2023 13:00 GMT by Craig Erlam

A mixed start to the week as OPEC+ causes a stir in oil markets

Equity markets have started the week a little mixed amid a nasty surprise from OPEC+ at the weekend, albeit against the backdrop of easing anxiety over the banking sector. We're now entering the third week without new drama in the banks and while I don't think anyone is ready to claim victory, there is an increasing sense of relief. That said, investors are still trying to determine what the longer-term damage of the last month is and the lack of spring back in bond markets suggest the view that

03-04-2023 12:59 GMT by Craig Erlam

OPEC announces surprise cut, gold gains ground

OPEC+ in no mood to tolerate lower oil prices OPEC+ were the latest to ensure there's no such thing as a quiet weekend these days, announcing a surprise cut to production of more than a million barrels per day and sending prices soaring on the open. The decision clearly caught traders off guard and for good reason. Aside from the uncertain nature of the outlook, which would have been reason enough to warrant holding for now, the direction from within the cartel had indicated that no changes woul

03-04-2023 12:52 GMT by Craig Erlam

Oil recovering slowly, can gold hit $2000?

Economic fears weigh on oil recovery Oil prices are continuing to gradually recover but remain way off pre-banking mini-crisis levels. The prolonged economic scarring of the last month will likely slow the economy if not cause a recession and lower interest rate expectations are not enough to support oil prices in the short term. They continue to trade around the range lows from the months that preceded recent events and may struggle to reestablish themselves around those previous levels.

31-03-2023 09:55 GMT by Craig Erlam

Oil gains ground as risk appetite improves, gold steady

Oil prices have continued to recoup losses in recent days as sentiment has improved, yields have edged higher and global economic prospects have improved. Recent volatility has been a firm reminder of the uncertainty that lies ahead, even as we seemingly near the end of the tightening cycles.

30-03-2023 07:31 GMT by Craig Erlam

Oil rally continues, gold treading water

A cautious recovery Oil prices are continuing to recover after popping higher at the start of the week. There's been a broad improvement in risk appetite at the start of the week thanks to a weekend without drama in the banks.

28-03-2023 07:54 GMT by Craig Erlam

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