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.

A busy Fed Day morning

Last round of data supports one last 25bp rate rise today Treasury announces buybacks in 2024 WTI crude plunges below as demand fears grow US stocks are slightly higher as the service sector continues to soften, bolstering expectations that the Fed will be ready to pause tightening after delivering one last rate hike. The economy is weakening, the labor market is softening and that seems to be enough to convince a lot of traders that today's quarter-point rate rise to 5.25% will mark the termi

03-05-2023 10:56 GMT by Edward Moya

Oil takes a tumble, gold eyes Fed

Bank woes send oil prices tumbling once more Oil prices have been crushed again over the last 24 hours as US regional bank shares sold off heavily and fuelled fears of a more significant economic downturn this year. The warning signs are there that investors are extremely anxious about the global economic prospects, particularly the US, and the data is slowly catching up which should deter the Fed from hiking today but it in all likelihood won't. The US may be heading for recession and they may

03-05-2023 07:44 GMT by Craig Erlam

Gold and Bitcoin surges on banking concerns, while oil stumbles

Low trading volumes and a deteriorating outlook send oil prices sharply lower Gold surges above $2000 level as banking concerns return Bitcoin still capped by $30,000 level Oil It got ugly a lot faster than any oil trader expected. Energy traders were turning constructive, even last week, the recent oil bear, Citi’s Ed Morse said ‘were close to a bottom in oil prices.’ Oil is in the danger zone as the banking crisis is crippling the short-term outlook for the economy and driving fears that we

02-05-2023 15:40 GMT by Edward Moya

Oil prices stabilize, gold consolidates ahead of FOMC

Were fears of oil deficit premature? Oil prices appear to have stabilized in recent days, not far from the middle of the range they traded within from early December to March. The post-OPEC+ gains have now been wiped out which suggests traders are now of the belief that the economic outlook has deteriorated to the extent that the output cut won't create the deficit that was feared when some were calling for $100 oil.

02-05-2023 09:06 GMT by Craig Erlam

Strong dollar weakens commodities, Cryptos lower as banking drama dies down

Poor PMI data from China drive crude demand concerns Gold struggles as yields surge; 10-year Treasury yield rises 14.4 basis points to 3.566% Bitcoin falls 3.8% to $28,200 Oil The ISM manufacturing report showed prices paid surged to the highest level since July as steel, copper, plastics, aluminum and diesel. The economy appears to be weakening at a slower pace and that should be good news for the crude demand outlook. Crude prices are paring losses on optimism the economy can strengthen now

01-05-2023 14:44 GMT by Edward Moya

Brent Crude - Oil drifting lower once more after OPEC+ cut

Craig Erlam discusses the latest moves in oil in the aftermath of the OPEC+ output cut a few weeks ago.

28-04-2023 19:05 GMT by Craig Erlam

Week Ahead - Brace Yourself (Fed, ECB, NFP, Peak Earnings)

US This week will be extremely busy as we have an FOMC decision, the nonfarm payroll report, peak earnings season, all while Wall Street keeps an eye on the banking industry to see if any news stresses arise. The FOMC meeting is expected to have policymakers deliver one more quarter-point rate rise, possibly leaving the door open for one more. Disinflation trends need to show they are firmly entrenched for the Fed to take their foot off the tightening pedals.

28-04-2023 15:42 GMT by Edward Moya

Oil tries to find a bottom, Gold wavers, Bitcoin softens

US Oil rig counts rise by two to 591 (Gas rigs up 2 to 161) Gold sub $2000 as yields slide, 10-year Treasury yield falls 8.1 bps to 3.439% Bitcoin falls 1% to $29,344 Oil The oil market selloff got out of control. Technical selling was not going to end until they filled the gap made from the OPEC+ production cut announcement earlier this month. The pulse of the US economy is not too bad if you ask the Atlanta Fed and if the US economy comes anywhere close to growing at 1.7% in the second qua

28-04-2023 15:22 GMT by Edward Moya

Stocks rally on earnings and mixed data; Commodities rise

Fed rate hike odds are now once again pricing in a quarter-point rate rise by mid-year Fed's preferred core gauge of prices hit the quickest pace in a year 2-year Treasury yield rises 14.4 basis points to 4.095% US stocks are rallying on strong earnings and on optimism that the economy will gradually soften and bring down inflation. The Fed will be able to move forward with one, perhaps two more rate hikes, but then that should be it.

27-04-2023 14:49 GMT by Edward Moya

Gold has not lost its glitter

Conflicting macro news flow has capped gold in a short-term range-bound movement. 1-year rolling uptrend of gold versus most major fiat currencies remains intact. Lower 10-year US Treasury real yield may provide an impetus for gold bulls. The recent movement in the price of gold has started to falter from its recent 52-week high of US$2,048 per ounce reached on 13 April 2023.

27-04-2023 03:33 GMT by Kelvin Wong

Oil loses OPEC+ gains, Gold rally falters, Cryptos rally on banking woes

Oil tumbles on recessionary fears Gold struggles as yields push higher Bitcoin recaptures $29,000 Oil Crude prices just saw all of its gains from the OPEC+ surprise production cut erased as macro backdrop has become a disaster. Oil has been in freefall over a challenging economic environment, banking jitters, disappointment with China’s reopening, fears of overtightening by the Fed, and on expectation Permian basin production has yet to peak. WTI crude pared losses after a bullish EIA report sh

26-04-2023 15:26 GMT by Edward Moya

Gold and Bitcoin rally as Bank worries return; Oil lower

Oil getting crushed as the demand outlook continues to deteriorate Gold surges as Fed hike bets no longer fully price in a quarter-point rate rise Bitcoin finds some tentative support at the $27,200 level Oil Oil prices slumped as the dollar rallied and crude demand signals remained mostly bearish as Halliburton signaled that customers are clearly motivated to produce more oil and gas. The one positive news for crude was the upbeat outlook from JetBlue on robust demand trends in the second quar

25-04-2023 14:36 GMT by Edward Moya

Oil prices drop, gold remains choppy

Calls for $100 oil premature Oil prices are slipping again on Tuesday after paring losses over the last couple of sessions. It would appear crude prices have now settled back into their pre-OPEC+ intervention trading ranges, with Brent between $78-$88 and WTI $73-$83. The move lower today could even be another push to close the OPEC+ gap from a few weeks ago after falling just short late last week.

25-04-2023 09:17 GMT by Craig Erlam

Weaker dollar boosts oil and gold; Bitcoin remains heavy

Oil tentatively finds a bottom on improving demand optimism Gold stuck in a tight range; hovering around $2000 level Bitcoin traders remain in wait-and-see mode on the regulatory front Oil Crude prices rebounded after a better-than-expected German sentiment report and as energy traders started to see Europe struggle to reliably replace Russian crude supplies. Last week, oil’s rough week had too many holes poked into the short-term crude outlook, but some of that pessimism might go away this we

24-04-2023 15:38 GMT by Edward Moya

Oil edges higher, gold in choppy waters

Uncertain outlook weighs on crude as prices almost close the post-OPEC+ gap Oil prices are a little higher at the start of the week, bouncing back after largely closing the post-OEPC+ gap from a few weeks ago. Prices came within a whisker of doing so and could potentially attempt to again.

24-04-2023 13:49 GMT by Craig Erlam

Oil decline continues, gold in choppy waters

Was OPEC+ correct to cut production as the price tumbles once more? Oil prices are slipping further at the end of the week and looking increasingly likely to close the post-OPEC+ gap. The gap a few weeks ago came after the cartel announced a surprise output cut over the weekend triggering a gap open on Monday.

21-04-2023 07:33 GMT by Craig Erlam

Oil tries to fill gap, Gold tries to make another run, Bitcoin's Coinbase risk

Oil's $2 drop on weakening outlook Gold higher on Debt drama and earnings risk Bitcoin lower on risk aversion and regulatory risks Oil Oil is getting crushed as Wall Street starts to get a steady stream of disappointing outlooks and on concerns that sentiment with China’s households and business might not be as robust as some are thinking. China may still need to ease and until they do so, investors might not be fully optimistic about the outlook for China. Today is mostly a risk aversion ses

20-04-2023 14:42 GMT by Edward Moya

Oil price correction continues, gold bounces back

Is oil looking to close the gap? We're continuing to see a correction in oil prices following a more than 2% decline on Wednesday. That saw the price move below the post-OPEC+ cut lows from a couple of weeks ago and move into the void left by that surprise announcement. Now it's a question of whether that gap will be filled, with the high from the Friday before falling just shy of $76 in WTI and $78 in Brent.

20-04-2023 07:36 GMT by Craig Erlam

Oil lower on strong dollar, Gold volatile, Bitcoin at $29k

Oil's worst slide in a month as demand concerns grow Surging yields weigh on gold Binance had a 16,000 bitcoin sell order before the 4am plunge Oil Oil prices declined as the dollar rebounded and after a mixed oil inventory report raised demand concerns. Gasoline demand showed unexpected weakness as inventories posted a surprise build of 1.3 million bpd vs an expected drop of 1.5 million bpd. The headline draw of 4.5 million barrels was larger-than-expected, but that was because it was the

19-04-2023 17:00 GMT by Edward Moya

Oil slips on Chinese data, gold falls as rate expectations rise

Oil testing post-OPEC+ gap open Oil prices are off almost 2% today and earlier tested the gap open from a couple of weeks ago. That came on the back of the surprise weekend OPEC+ output cut which propelled the price back towards the highs of the previous few months, where it has since hovered around. Today's sell-off comes on the back of some selling pressure yesterday following the Chinese industrial production data and slightly more hawkish expectations on interest rates.

19-04-2023 08:05 GMT by Craig Erlam

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