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 extends decline, gold steady

Brent below $90 ahead of December OPEC+ gathering Oil prices are continuing to retreat against the backdrop of increasingly gloomy economic prospects and surging Covid cases in China which risk further restrictions and lockdowns, threatening demand in the world's second-largest economy. Brent crude has broken back below $90, testing the mid-October lows and, if sustained, the patience of OPEC+. The group was heavily criticized for its two million barrel per day output cut and yet oil prices are

18-11-2022 07:37 GMT by Craig Erlam

Oil lower on demand woes, gold slumps

Oil Oil prices are getting punished as crude demand concerns show no signs of easing. The world’s two largest economies are struggling here as China battles COVID and the US is seeing a significant drop in manufacturing activity. China’s new case total rose above 23,000, which is the highest level since April and is approaching its record high.

17-11-2022 11:22 GMT by Edward Moya

Oil prices fall, gold stalls

Oil slips amid easing geopolitical risk and China woes Oil prices are slipping as we move through the week, with easing geopolitical risk and Chinese demand weighing. Prices spiked earlier in the week after missiles landed in Poland, risking a dramatic escalation in the war in Ukraine.

17-11-2022 09:11 GMT by Craig Erlam

Oil slides, gold softens

Oil Yesterday’s bullish triggers for oil prices were quickly undone today. Oil prices declined after flows from the Druzhba pipeline resumed and preliminary analysis of the missile that killed two in Poland was likely an errant missile fired by Ukraine’s defense system. It looks like we aren’t seeing an immediate escalation from the Russians and that has tentatively removed some of the short-term supply risks. Oil struggled for direction after a mixed EIA crude oil inventory report as stockp

16-11-2022 15:18 GMT by Edward Moya

Oil steadies, gold eyes resistance

Oil steadies after strikes in Poland Oil prices are softer on Wednesday after a brief bout of volatility late Tuesday following reports of missile strikes in Poland. That unsurprisingly jolted financial markets, sending oil prices higher initially, but that quickly settled and crude prices are now back where they were before. It goes without saying that any significant escalation in the war in Ukraine will likely add a substantial risk premium to oil prices, with Russia being a major producer an

16-11-2022 11:39 GMT by Craig Erlam

Stocks volatile after PPI cools and Russian missiles crossed into Poland, BlockFi the next crypto domino to fall

US stocks initially rose after an economic report showed inflation is cooling and after Walmart’s earnings provided optimism this was still going to be a decent holiday season. It was a busy morning with economic data and earnings, but the overall take is that a soft landing still seems possible. Stocks tumbled after reports that Russian missiles crossed over into Poland. This is a significant escalation as Poland is a NATO state.

15-11-2022 15:20 GMT by Edward Moya

Oil rises on geopolitical angst, gold steady but faces strong resistance at $1800

Oil Crude prices remain volatile as energy traders digest another round of economic data that supports the idea that the Fed could still deliver a soft landing and as stockpiles remain near 18-year lows. Earlier crude was lower as Beijing struggles with surging Covid cases. Also what’s keeping the oil market on edge is the proposed price cap on Russian crude. Some analysts expect only a modest drop in Russian production but we won’t find that out until next month. Oil surged after reports

15-11-2022 15:16 GMT by Edward Moya

Oil flat, gold hits key resistance

Oil treading water Oil prices are basically flat on Tuesday, sitting a little below the middle of their recent trading ranges as traders continue to weigh up the global economic outlook, OPEC+ production risks, and China's Covid approach. Prices remain choppy and that's likely to remain the case given the ongoing uncertainty around these key areas. Everyone became much more optimistic around the US after last week's inflation report but that appears to have quickly faded.

15-11-2022 03:59 GMT by Craig Erlam

Market Insights Podcast (Episode 398)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the latest surge in Covid cases in China, the modest relaxation of its zero-Covid policy, the OPEC+ report and the week ahead.

14-11-2022 15:53 GMT by Craig Erlam

Oil weakens, gold rally losing steam

Oil Crude prices softened but didn’t break as energy traders await how supplies will be disrupted when the Russian crude price cap begins early next month. Today’s oil price weakness was mainly attributed to a weakening short-term demand outlook by OPEC and nervousness that the Fed could still remain aggressive with raising rates. Warmer weather across Europe has been good news for natural gas prices and that has removed some of the extra demand that was expected to come crude oil’s way. The

14-11-2022 13:35 GMT by Edward Moya

A choppy start

It's been quite a choppy start to the trading week, with much of the focus on China where Covid relaxation measures and property market support have brought some relief. Unfortunately, both come at a time of record Covid infections in major cities including Beijing and Guangzhou. And those relaxation measures that were announced are not ambitious enough to make any difference in those cities seeing rising cases which means activity is going to weaken. There is hope that China could further relax

14-11-2022 03:48 GMT by Craig Erlam

Oil steady, gold surges

Oil is steady but upside risks remain The prospect of looser restrictions has boosted the price of oil recently and yet Brent still finds itself trading around the middle of its $90-$100 range. The US inflation data last week gave crude another boost as traders were left to dream again about a possible soft landing if the data continues that way and the Fed raises rates less. There's still a long way to go though and much of the world won't be so lucky, assuming it isn't already too late for the

14-11-2022 03:43 GMT by Craig Erlam

Oil moves higher, gold sparkles

Can oil break $100 again? It's been quite the volatile week for oil, with Chinese rumours not going away, restrictions and mass testing being undertaken once more and the global economic outlook seemingly changing on a daily basis. There's no such thing as a boring week these days. Today it's the improvement in economic sentiment on the back of that inflation data alongside a modest relaxation of Chinese quarantine measures that are lifting prices.

11-11-2022 08:42 GMT by Craig Erlam

Oil higher, gold skyrockets

Oil Crude prices were heavy early as concerns grew over China’s COVID situation. Energy traders were quick to jump back on the oil trade after a cool inflation report brought hopes back to life that the US economy could still have a soft landing. The inflation report showed fuel oil prices surged 19.8% before the cold weather arrives. The oil market is going to remain very tight this winter and that should keep oil prices heading higher. Gold surges as US inflation dips Gold prices are s

10-11-2022 11:24 GMT by Edward Moya

Oil slips, gold eyes inflation data

Oil slides amid Chinese Covid restrictions Oil prices fell again on Wednesday, taking losses over the last couple of days to more than 5%. Brent and WTI are basically flat on the day at the time of writing, settling towards the lower end of their recent trading ranges. While the narrative in recent weeks has focused on the potential for Chinese Covid restrictions to be relaxed, which has driven Chinese equities higher and lifted oil prices, the reality has seen case numbers soaring, restrictions

10-11-2022 04:06 GMT by Craig Erlam

US Close: Election hangover, China inflation and lockdown hopes, oil drops, gold rally stalls, crypto turmoil

US stocks declined as the midterm election results are still not clear, but still seems to favor a divided government outcome. Wall Street is having an election hangover that most likely saw an end to Biden's blue wave.

09-11-2022 16:54 GMT by Edward Moya

Oil edges lower, gold jumps higher

Oil eases amid a surge in inventories Oil prices are a little lower again on Wednesday after falling around 3% a day earlier. This came following a strong move in recent weeks in which crude prices rallied around 20% on the back of the OPEC+ output cut and the prospect of less restrictive Covid measures in China, which have not been confirmed. The API inventory data came late in the day on Tuesday after the bulk of the losses had already occurred.

09-11-2022 04:12 GMT by Craig Erlam

Oil lower on China concerns, gold pops

Oil edges lower Crude prices edged lower after as China continues to struggle with COVID. Bets that China will reopen soon are losing momentum as cases jumped in Guangzhou and other key Chinese cities. Brent crude is still close to the $100 a barrel level for now and it seems short-term risks to supplies have traders looking for a bullish move higher. Gold powers higher Gold had a great day as the dollar tumbled ahead of the midterm elections and a pivotal inflation report.

08-11-2022 15:01 GMT by Edward Moya

Oil prices ease, gold eyes inflation

Oil pares gains as China Covid cases jump Oil prices are easing a little on Tuesday, a day after Brent crude came within a whisker of $100 again. It's traded below this major psychological level since July but recent developments have propelled the price higher again, up more than 20% from the September lows. OPEC+ had a big hand to play in that but speculation around China's zero-Covid commitment may also be a factor in recent gains.

08-11-2022 04:08 GMT by Craig Erlam

Oil waiting to pop, gold enters trading range

Oil Oil’s early boost from a weakening dollar could not last as energy traders debate whether optimism was premature over an easing of Covid rules in China. Chinese officials continue to push back on the idea that a relaxation in Covid rules is coming.

07-11-2022 15:03 GMT by Edward Moya

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