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 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

Oil rises slightly, gold loses ground

Oil has rebounded slightly, but gold has slipped as we are seeing an improvement in risk appetite on Monday. Oil recovers as the dust continues to settle Oil prices are rebounding a little on Monday, up a little more than 1% in line with the broader risk rally. It's been a volatile few weeks for crude, caught up in the banking storm as investors are forced to scale back their expectations for the economy which, in turn, has weighed heavily on demand prospects. But with sentiment slowly improving

27-03-2023 09:19 GMT by Craig Erlam

Banking risks and hawkish Fed speak weigh on oil, Gold & Bitcoin rallies exhausted

Oil dragged down on bank woes Crude prices are lower as banking worries persist and after Energy Secretary Granholm said refilling the SPR could take years. Banking turmoil will clearly have a negative impact on the economy, possibly crushing small businesses as lending becomes more difficult.

24-03-2023 15:38 GMT by Edward Moya

Banking Sector Drama Continues, Stocks pare losses as rate cuts fully priced in

Investors try to shrug off banking drama Wall Street was initially dragged down as banking worries persisted after Deutsche Bank’s costs against default skyrocketed. Deutsche Bank’s 5-year CDS surged from around 150 bps early on Thursday to a four-year high around 210 bps before settling closer to 193 bps. Other European banks, Societe Generale, Credit Agricole and BNP Paribas declined on banking turmoil fears.

24-03-2023 15:32 GMT by Edward Moya

US Open: Stocks rebound, Jobless Claims decline again, Block tumbles, BOE/SNB/Norges all hike, Turkey holds, Tesla rallies, Oil higher, Gold recaptures $2000, Bitcoin faces massive resistance at $30k

US stocks are rising as Wall Street digests what might be the Fed’s last rate hike and Secretary Yellen’s comment on blanket deposit insurance. The post-Fed selloff came from Yellen’s comment that they haven’t looked at backing all bank deposits with FDIC insurance. This was bad news for the banks and contagion fears. Yellen’s comment at a Senate panel hearing should be taken with a grain of salt given a decision to back all deposits would need congressional support. Optimism should remain th

23-03-2023 10:36 GMT by Edward Moya

Oil dips lower, gold gets boost from dovish Fed

Signs of permanent damage in oil? Oil prices are a little lower today after gradually recovering in recent days. While no one can say with confidence that a banking crisis has been averted, there is growing confidence that the actions taken by central banks, regulators, and governments have significantly reduced the odds of one, particularly a severe scenario, and that is ultimately good for the economy and crude demand. So while we saw Brent and WTI plunge to late-2021 levels amid the panic of

23-03-2023 05:10 GMT by Craig Erlam

US Close - Fed’s dovish hike trumped by Yellen not considering broad increase in deposit insurance, Oil rallies, Gold gets groove back, Bitcoin softens

Wall Street’s initial take on the Fed was that they delivered a dovish hike and that banking turmoil will finish the job of bringing inflation back to target. Fed Chair Powell started the press conference by noting that the banking system is sound, but Treasury Secretary Yellen put a wrench in that idea. Yellen noted that regulators are not considering a broad increase in deposit insurance. Yellen said she is not considering a broad increase in deposit insurance despite all the discussion aro

22-03-2023 17:07 GMT by Edward Moya

Market Insights Podcast (Episode 447)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They preview the FOMC and BOE rate decisions, discussed the market reaction to a hot UK inflation report, recap the wild moves with gold, and talk cryptos.

22-03-2023 12:57 GMT by Edward Moya

Oil prices fall, gold awaits Fed decision

Stalled recovery Oil prices are slipping again today after recovering strongly from the lows over the last couple of days. There's still a lot of lost ground to make up which may highlight the apprehension behind the recovery as well as the potential longer-term consequences for the economy. Time will tell how significant an impact that will have but the fact that we're already seeing profit-taking isn't a great signal.

22-03-2023 04:40 GMT by Craig Erlam

US Close: Fed expected to hike one more time, Yellen calms markets, Oil rebounds, Gold hit by profit-taking, Bitcoin awaits Fed

US stocks are higher as officials signal they will do whatever it takes to protect the banking system. Treasury Secretary Yellen’s comments at the American Bankers Association conference sparked today’s risk-on mood.

21-03-2023 15:52 GMT by Edward Moya

Oil rises, gold pulls back as markets jitters ease

Will economic fears fully abate? Oil prices are rising again on Tuesday, adding to Monday's recovery to trade more than 6% from the lows. Brent fell close to $70 yesterday, the lowest level since late-2021 is a sign of how much the banking crisis has reverberated throughout the markets.

21-03-2023 10:07 GMT by Craig Erlam

Oil gets support, gold breaks $2000

Oil seeing some support The sell-off in oil markets appears to be running into support following the near-20% decline over the last couple of weeks. Traders have been forced to reassess the outlook for the global economy in light of recent issues in the banking sector and it would appear they're no longer so optimistic. That may of course change as things settle down, assuming they do in the short term, but for now, they're taking a far more cautious stance.

20-03-2023 13:00 GMT by Craig Erlam

US Open: Stocks waver after UBS takeover deal/coordinated CB action/banking worries, Yen thrives on risk aversion flows, Bullish oil bets abandoned, Gold $2k, Bitcoin closer to $40k than November low

Looks like it will be another long week on Wall Street. It was a busy weekend after a Credit Suisse bailout and a coordinated effort by the Fed and other central banks to boost dollar liquidity. Despite a couple major weekend attempts to contain the risks hitting the banking system, US stocks are wavering as risk aversion won’t be going away until markets are confident that the Fed is done with their rate hiking campaign. The banking system still doesn’t have any confidence as Wall Street tri

20-03-2023 09:47 GMT by Edward Moya

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