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.

US Open: Stocks lower as economy weakens, US data, Goldman layoffs, oil slumps, gold’s bad week, crypto audits

US stocks are declining as investors can’t shake off all the hawkish rhetoric that came from central bankers this week and as the private sector clearly entered a strong downturn. Monetary policy has quickly gotten restrictive now that the Fed has raised rates by 400 basis points in 9 months. Recession risks will only grow now that Powell has signaled that we should expect ‘ongoing increases’. Global bond yields are rising after central banks delivered another round of tightening and mostly si

16-12-2022 10:55 GMT by Edward Moya

Oil under pressure, Fed weighs on gold

Can WTI break $70? Oil prices are slipping once more in volatile trade. There are so many driving forces in the oil market at the moment and a more sombre economic outlook on the back of the hawkish central bank message this week appears to be the dominant one going into the weekend. The interesting thing for me remains how prices respond to the December lows, should they be tested again, with the level in WTI also representing the point at which the White House has indicated it will start refil

16-12-2022 07:31 GMT by Craig Erlam

Market Insights Podcast (Episode 411)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the Fed, ECB and BoE interest rate decisions as well as the latest moves in oil.

16-12-2022 02:50 GMT by Craig Erlam

Oil slumps, gold lower on strong dollar

Oil Crude prices edged lower as a section of the Keystone pipeline restarted and as global recession risks increased after a wave of central banks delivered another strong round of tightening. Oil’s recent rally is running out of steam as risk aversion runs wild. The dollar might be poised to rally here and that should keep some pressure on oil prices. Gold Gold is weakening as markets worry that global central bank tightening will drive recessionary fears and keep the dollar supported here.

15-12-2022 12:44 GMT by Edward Moya

Tightening Thursday (ECB & friends), US data/surveys, labor market refuses to break, oil slumps, gold lower on strong dollar, bitcoin follows broader market

US stocks didn’t stand a chance today after digesting a hawkish FOMC decision and a round of data/surveys that support the argument that the economy is recession bound. The labor market might not be breaking but it is becoming clear the consumer is weakening and manufacturing activity is in a recession. US retail sales posted the largest drop in nearly a year.

15-12-2022 12:41 GMT by Edward Moya

Oil edges lower, Fed sends gold lower

Oil edges lower Oil prices are a little lower on Thursday after recording three consecutive days of gains. A stronger post-Fed dollar, fears of slower growth, or a surprisingly large inventory build from EIA may be contributing to today's declines but in reality, we're probably just seeing a little profit-taking following a decent rebound. The outlook remains highly uncertain given the risks to Chinese demand as it exits zero Covid, the war in Ukraine and the impact of the G7 price cap, and OPEC

15-12-2022 05:21 GMT by Craig Erlam

Fed React: Stocks slump on hawkish FOMC statement, dollar pares losses, Delta, oil rises, gold down post-Fed, cryptos pare gains

US stocks tumbled after the Fed downshifted to a half-point rate hike pace but signaled ‘ongoing increases’ will be appropriate to combat inflation. Risk aversion roared back and that helped the dollar pare earlier losses.

14-12-2022 14:39 GMT by Edward Moya

Oil showing volatility, gold eyes Fed

Huge uncertainty for oil There remains immense uncertainty over the outlook for crude demand and supply which is leading to plenty of volatility in oil markets. The price has rebounded in recent days after WTI fell close to $70, the level at which the White House has previously indicated it will start refilling the SPR following a year of repeatedly drawing it down. With China finally navigating away from zero-Covid, which alone brings huge uncertainty for next year, the global economy slowing,

14-12-2022 08:27 GMT by Craig Erlam

Oil rebound extends, gold shines

Oil Crude prices got a boost from a cool inflation report that supports the case that the US economy could still have a soft landing. The oil market can’t justify prices below the $70 level even if bumpy times are ahead. Disruptions from the Keystone Pipeline remind us how tight the oil market remains. China will struggle to deliver a complete reopening until early next year, but that demand outlook should start to improve soon. The OPEC monthly report noted that, “The year 2023 is e

13-12-2022 10:31 GMT by Edward Moya

Oil on the move, gold eyes CPI

Bouncing back Oil prices are advancing again on Tuesday, with Brent approaching $80 a barrel and WTI nearing $75. This comes amid further relaxations of Covid curbs in China, the threat of lower Russian output in response to the G7 price cap, an outage on the Keystone pipeline in the US, and the promise of US purchases around $70. That's a lot of supportive factors for the price even in what appears to be an environment tilted towards oversupply.

13-12-2022 04:42 GMT by Craig Erlam

Oil rebounds, gold softens

Oil Crude prices are rising on hopes China’s demand situation will quickly improve and on concerns that supplies will be kept tight by both Russia and OPEC. China’s reopening is coming; it won’t happen overnight, but it will provide a major boost to demand in the outlook next quarter.

12-12-2022 15:41 GMT by Edward Moya

Oil volatile, gold choppy ahead of Fed

Oil volatility likely to continue Another volatile start to the week in oil markets, where Brent and WTI now find themselves around 3% higher on the day. This comes after WTI fell close to $70 a barrel, the level at which the White House previously indicated it will begin refilling the SPR which could provide some initial support for the price. The outage on the Keystone pipeline between Canada and the US could be offering further support for the price, as could renewed Russian threats to cut su

12-12-2022 13:00 GMT by Craig Erlam

Week Ahead - Blockbuster end to the year

US Two blockbuster events will have Wall Street on edge as the disinflation trade may have gotten ahead of itself. The last major piece of economic news before the Fed meets will be the November inflation report which is expected to show pricing pressures are decelerating. The headline reading from a month ago is expected to rise 0.3%, a tick lower from the pace in October. On a year-over-year basis, inflation is expected to decline from 7.7% to 7.3%.

09-12-2022 15:53 GMT by Craig Erlam

Mid-Market update: Stocks waver post PPI and UMich survey, oil jumps as Putin considers output cut, gold shines, bitcoin anchored at $17k

US stocks are settling higher after a mixed round of pricing data seemed unlikely to change what the Fed will do next week. Stocks are finishing a down week on a positive note as expectations remain high that the Fed will downshift to a slower pace. Inflation is heading lower but we won’t know for a couple quarters if more tightening will be required by the Fed. For now, investors appear confident that the Fed will stop tightening once the terminal rate peaks around the 5.00% to 5.25% levels.

09-12-2022 12:37 GMT by Edward Moya

Oil pops on Keystone Pipeline leak, gold edges higher

Oil Crude prices spiked higher after the Keystone Pipeline was shut after a leak in Nebraska. Earlier, Tribeca Shipping Agency reported 19 oil tankers are still awaiting passage through Turkey’s Bosphorus Strait.

08-12-2022 14:01 GMT by Edward Moya

Market Insights Podcast (Episode 408)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss how markets have traded this week, the Hang Seng's outperformance today, and oil.

08-12-2022 12:05 GMT by Craig Erlam

Oil under pressure, gold eyes Fed meeting

A floor in oil prices? Oil prices remain under pressure as traders continue to price in a slower global economy next year and the prospect of deeper recessions. China's efforts to reduce restrictions are probably preventing a much steeper decline in the oil price, although this won't be without disruption as Covid spreads like wildfire throughout the country after such a long period of zero-Covid measures. Then there's also the pledge by the White House to restock the SPR once oil falls to aroun

08-12-2022 05:15 GMT by Craig Erlam

Oil lower, gold shines

Oil Crude prices declined as energy traders quickly abandoned bullish bets that we will see a price spike once the Russian cap on crude oil would be put in place. It seems oil markets are only caring about a steady deterioration with the demand outlook. The latest EIA crude oil inventory report showed inventories dropped less than expected and exports tumbled. Exports fell 30%, which is the lowest level since October. Gasoline inventories are rising as demand struggles. This report shows

07-12-2022 15:24 GMT by Edward Moya

Oil under pressure, gold eyes PPI

Will $70 be a floor in oil? There's been a lot to absorb for oil traders over the last week, some of which have created more questions than answers. The trade data from China was obviously another blow as it pointed to weakening global demand, as has become the norm from manufacturing and trade data around the world recently.

07-12-2022 10:26 GMT by Craig Erlam

Oil tumbles, gold's safe-haven status

Oil Crude prices tumbled as recession worries dominated the headlines and as the oil market lost its tightness. It seems to have happened quickly but the crude demand outlook is getting crushed as we are in a slowdown basically across all the major economies. Supplies seem plentiful over the near-term and that has everyone hesitating on what was one of the easiest trades of the year. Energy traders are not confidently buying dips, but they will if the current selloff sends prices close to

06-12-2022 16:26 GMT by Edward Moya

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