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 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

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

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

Podcast - Dollar poised for best week since February as stagflation risks return

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They recap this week's key drivers for dollar strength, a strong surge with inflation expectations, the BOE's rate hike, oil's bad week, gold's macro backdrop, and cryptos.

12-05-2023 14:08 GMT by Edward Moya

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

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

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

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

Podcast - US inflation falls faster than expected, BoE to hike interest rates

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart and Trader Nick. They discussed the latest US CPI release and its impact on the markets and preview the BoE rate decision.

11-05-2023 07:52 GMT by Craig Erlam

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

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

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

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

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

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

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

Gold - Nearing record highs after what may be the final Fed hike

Craig Erlam discusses how the latest moves by the Fed have impacted gold and whether record highs may be on the cards.

05-05-2023 09:51 GMT by Craig Erlam

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

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

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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