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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 finds support, Gold rallies into NFP, Bitcoin struggles
Gasoline fell on a weekly basis but increased by 1.3% with the 4-week average US crude inventories hit highest levels since May 12th Gold eyes $2000 level ahead of NFP Oil Crude prices were initially lower after a surprising large build was followed by a global round of disappointing manufacturing data that did not do any favors for the demand outlook. Energy traders are not sure what to expect with the upcoming OPEC+ weekend meeting. ​ Trying to get a read on what Russia will do at the upcomin
01-06-2023 11:47 GMT by Edward Moya
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Podcast - Rising Fed rate hike expectations
OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They discuss today's debt ceiling vote, a hot JOLTS report, China's PMI report, and Australia's sticky inflation data. **Note this was recorded before Fed's Jefferson comment about pausing at the next meeting.
31-05-2023 16:09 GMT by Edward Moya
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Stocks lower as debt deal and more Fed tightening has economy recession bound
US stocks are falling as the expected debt deal will prove to be negative for the economy as limited spending along with more Fed tightening will send the economy to a recession at the end of the year. ​ The US doesn’t look like it will default, but recession worries, possibly stagflation risks, will make life hard for risky assets. ​ Debt Vote The divided House will soon vote on the bill, needing a 218-vote majority for it to advance to the Senate. ​ Voting is expected to start at 330pm est an
31-05-2023 15:57 GMT by Edward Moya
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Gold rallies as debt deal progress sends Treasury yields lower
Russian oil shipments weaken but still well above last year's average Gold finds support after tumbling towards Mid-March low Bitcoin hits two-week high but still appears to be firmly anchored Oil Oil is on the ropes as upcoming week will likely contain further confirmations that China’s recovery is struggling, the US labor market is cooling, the Fed will likely deliver more tightening that will eventually cripple the economy later this year, and as everyone waits to see if the debt deal can m
30-05-2023 14:24 GMT by Edward Moya
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Oil prices dip with eye on OPEC, gold higher after debt ceiling deal
How much sway does Saudi Arabia still have? Oil prices are slipping on Tuesday as traders weigh up the prospects of another OPEC+ cut this weekend. Russia's Novak last week appeared to play down the prospect of another reduction shortly after traders were warned to "watch out" by the Saudi energy minister, who hinted at another "ouching" for short-sellers. It seems Novak's words have carried more weight in the markets as traders determined that no alignment of thought will mean no deal.
30-05-2023 13:01 GMT by Craig Erlam
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Oil volatile after a week of mixed messages, US inflation bad news for gold
Oil markets volatile ahead of OPEC+ meeting next weekend Oil prices are recovering slightly after a volatile week amid conflicting commentary from key members of the OPEC+ alliance. From a "watch out" warning from the Saudi Energy Minister to a suggestion that the group will not cut output next weekend, traders have been left a little confused as to what we can expect. It may be that Saudi Arabia wants to keep traders on their toes but to make these comments and not follow through could be perce
26-05-2023 12:41 GMT by Craig Erlam
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Oil higher on debt deal optimism and resilient US economy, gold struggles, Crypto steadies
Energy traders carefully monitoring for any Russian-Saudi tensions Hawkish data and debt deal optimism weigh on gold Cryptos benefitting from today's broader market rally Oil Crude prices are rising after another round of impressive economic data exemplifies how resilient the US economy remains. Debt deal negotiations appear to also be heading in the right direction, but talks could easily fall apart as the far wings of both parties will need to make concessions. Energy traders might refrain fr
26-05-2023 12:24 GMT by Edward Moya
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Novak and USD crush oil prices, Gold and Bitcoin diverge
Dollar rally sends gold to lowest levels since March and the yen to the weakest levels since November Russian/Saudi in focus as Novak clarifies earlier comments Bitcoin outperforming gold as it continues to hold onto critical support Oil Crude prices are weakening as king dollar returns and after Russia slashes any Saudi hope of delivering another production cut at the June 4th meeting.  Russian Deputy Prime Minister Alexander Novak said, "I don't think that there will be any new steps, becaus
25-05-2023 15:42 GMT by Edward Moya
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Oil slides over OPEC, gold falls after FOMC minutes
Russia cools talk over OPEC+ output cut Oil prices are sliding again on Thursday after the Russian Deputy Prime Minister, Alexander Novak, appeared to cool expectations of an imminent output cut from OPEC+ ahead of the meeting in a little over a week. Suspicions of a second consecutive cut came as prices slipped, and remained, below $80 a barrel - the point at which the group announced a surprise cut previously - and Saudi Energy Minister, Prince Abdulaziz bin Salman, warned short speculators
25-05-2023 10:42 GMT by Craig Erlam
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Energy Prices remain strong as most commodities weaken on debt deal and growth concerns
EIA Report: Inventories fall by 12.46 million barrels vs 932K expected build Gold struggles as sticky inflation could support Fed skip Global crypto market cap falls to $1.1 trillion Oil Oil is starting to turn bullish as demand shows signs of improvement also while energy traders heed the Saudi warning given to short-sellers.  The EIA crude oil inventory was mostly bullish as demand improved across crude, distillates and gasoline. Crude has been dragged down as debt ceiling talks are still h
24-05-2023 16:00 GMT by Edward Moya
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Oil prices rise after Saudi warning, gold steady ahead of FOMC minutes
Oil continues higher as short-sellers warned to "watch out" Oil prices are trading higher again on Wednesday, buoyed by the latest short-seller warning from Saudi Arabia. The prospect of another "ouching" moment is seemingly too much to bear although if past experience is anything to go by, traders may be tempted to call his bluff. Saudi Energy Minister Prince Abdulaziz bin Salman told short-sellers to watch out during his most recent comments on the market which come a little before the next OP
24-05-2023 04:41 GMT by Craig Erlam
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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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