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.

Market Insights Podcast (Episode 407)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the aftermath of the US jobs report, further reports of China loosening Covid restrictions, PMIs and how oil has responded to the G7 Russian oil price cap and OPEC+.

05-12-2022 10:06 GMT by Craig Erlam

Oil higher, gold retreats

Oil higher as China looks to ease Covid restrictions Oil prices are higher on Monday, rallying 2%, after the G7 imposed a $60 price cap on Russian oil and OPEC+ announced no new output cuts. Both bring a degree of uncertainty, with the details of the cap and the impact on Russian sales still unclear. From the OPEC+ perspective, it can't be easy to make reliable forecasts against that backdrop and the constantly evolving Covid situation in China, which currently looks far more promising from a de

05-12-2022 08:57 GMT by Craig Erlam

NFP React: Fed bets rise post hot NFP report, stocks lower, oil awaits big week ahead, gold dips, cryptos little changed

US stocks tumbled after the nonfarm payroll report showed the labor market, especially wage pressures, is not cooling quickly at all. Wall Street is scratching its head as a lot of traders expected to see a labor market slowdown accelerate. A headline gain of 263,000 jobs was almost above the most optimistic estimate and the gain with wages was jaw-dropping.

02-12-2022 13:37 GMT by Edward Moya

Oil risk, gold steadies, bitcoin cautious

Steady going into a highly uncertain weekend Oil prices are quite steady on approach to the weekend. There remains considerable uncertainty around the action OPEC+ will take when it meets on Sunday, although there's every chance that the meeting will be delayed or that discussions take longer than normal, as a result of the price cap being finalized by the EU. A cap of around $60 is now reportedly close to being signed off, the impact of which is still unclear as Russia already sells to its tr

02-12-2022 06:31 GMT by Craig Erlam

Brent Crude - Immense uncertainty

OANDA Senior Market Analyst Craig Erlam discusses the latest crude moves against the backdrop of record Covid cases in China, an imminent EU decision on the Russian oil price cap, and the weekend OPEC+ meeting.

01-12-2022 17:43 GMT by Craig Erlam

Oil rallies as China eases covid rules, gold shines

Oil Crude prices rallied as hopes grow that China will continue to loosen their COVID rules and on expectations that OPEC+ will do whatever it takes to keep oil prices supported. Energy traders are eagerly awaiting an OPEC+ decision that could see them keep output steady or deliver a small cut. If China didn’t signal a slight covid easy shift, the probability of a production cut would have been much greater. Oil should find a range as we await the OPEC+ decision. Key levels for WTI crude i

01-12-2022 14:23 GMT by Edward Moya

Oil prices rising, gold rallies

A huge few days for oil markets Oil prices have rebounded strongly over the last few days - up around 10% from the lows - buoyed by the prospect of a lower price cap on Russian crude, another large production cut from OPEC+ this weekend, and China's evolving Covid stance. There remains considerable uncertainty surrounding all of the above though which will likely ensure prices remain volatile going into the weekend.

01-12-2022 04:17 GMT by Craig Erlam

Oil rallies on China's opening, gold's great month

Oil Oil prices are rallying on China's opening optimism and after another round of US economic data showed the economy is weakening but still far from a recession. Energy traders are looking at the next week and see two potential bullish catalysts for oil prices; an OPEC+ decision that could easily justify lower output targets given China’s demand outlook and a Russian crude price cap that needs to be put in place; otherwise, a ban on Russian imports takes effect on December 5th. US energy sec

30-11-2022 10:23 GMT by Edward Moya

Oil powers higher, gold range-bound

Immense uncertainty It was always shaping up to be a volatile week in oil markets and it's certainly living up to that. Brent and WTI are up more than 2% on Wednesday as the EU continues to work towards an agreeable price cap on Russian crude and OPEC+ consider another large production cut this weekend. Both carry significant uncertainty and a wide range of outcomes that should ensure oil remains volatile in the coming days, especially if both go into the weekend still up in the air.

30-11-2022 08:46 GMT by Craig Erlam

Oil rises on China optimism, gold rebounds

Oil Oil prices initially rose on hopes that both China’s COVID situation might be improving as protests are pressuring officials to ease some rules. China’s COVID infections declined for the first time in a week, and they are ramping up vaccination efforts for the elderly. The recent slide in oil prices has complicated where the EU should put the Russian oil price cap.

29-11-2022 15:00 GMT by Edward Moya

Oil showing volatility, gold rallies

So much uncertainty in the oil markets It's already been a very volatile week in oil markets and that's unlikely to change over the coming days given the immense uncertainty over the Russian price cap, China's Covid stance, and the OPEC+ meeting. The market is being led by speculation and leaks, of which there have been plenty and will likely be much more, which makes for very lively conditions given the wide array of possible outcomes. And as you'd expect, all of the above are linked to varying

29-11-2022 10:14 GMT by Craig Erlam

Oil under pressure, gold settles down

China and the Russian price cap weigh on crude Events in China aren't just hitting local equity markets, oil prices are also crumbling under the pressure of record Covid cases and huge economic uncertainty. The country's commitment to zero-Covid has seriously damaged growth in the world's second-largest economy and by extension, crude demand.

28-11-2022 10:13 GMT by Craig Erlam

Market Insights Podcast (Episode 404)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss unrest in China amid tighter Covid restrictions, oil and the week ahead.

28-11-2022 09:54 GMT by Craig Erlam

Oil prices rise, gold in a range

Oil pares losses as price cap talks continue Oil prices are higher on Friday, continuing to pare losses after being hit heavily in recent weeks by surging Covid cases in China and discussions around the price cap on Russian crude. Lockdowns in all but name appear to be popping up in major Chinese cities in an attempt to get a grip on record cases which will weigh heavily on economic activity once more and in turn demand. It's now a question of how long they last but clearly investors' enthusiasm

25-11-2022 07:50 GMT by Craig Erlam

Gold - Jumps after dovish Fed minutes

OANDA Senior Market Analyst Craig Erlam talks about how gold responded to the release of the FOMC minutes.

24-11-2022 12:13 GMT by Craig Erlam

Market Insights Podcast (Episode 402)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the Fed minutes, BoK rate hike, Chinese lockdowns, and oil as the G7 finalise the Russian price cap.

24-11-2022 11:54 GMT by Craig Erlam

Oil prices slip, gold higher after FOMC

Oil tumbles amid price cap talks and stricter Chinese restrictions Oil prices are a little lower again on Thursday as the G7 continues to work towards a price cap on Russian oil. Brent crude fell heavily on Wednesday amid reports that the group could settle on a level around $65 which is roughly where they currently sell it at, and with a sizeable profit.

24-11-2022 08:58 GMT by Craig Erlam

Oil ticks higher, gold eyes FOMC minutes

Is an output hike really feasible? Oil prices are marginally higher on Wednesday, continuing the recovery from a sell-off that was triggered by speculation that OPEC+ could consider a significant hike in output when it meets early next month. The move would certainly come as a surprise considering its two million barrel cut last month, the deteriorating global economic outlook, Chinese Covid restrictions, and the uncertainty around the Russian oil price cap. Of course, the cap may be part of the

23-11-2022 03:46 GMT by Craig Erlam

Oil prices rebound, gold

Oil Crude prices are still rebounding from yesterday’s Saudi denial that OPEC+ was considering an output increase. Oil is having a tug-of-war with China's Covid demand concerns getting countered with what appears to be a motivated Saudi Arabia to keep the oil market tight. White House official Hochstein said that the US can still manage any energy emergency with the SPR. He also noted that it will be opportunistic about refilling the SPR and that they could look to immediately repurchase oil w

22-11-2022 13:21 GMT by Edward Moya

Filling the void

As was to be expected, it's been a choppy week so far in financial markets with Europe a very mixed bag on Tuesday while US futures are marginally higher after making marginal losses on Monday. On the one hand, we could be seeing investors warily waiting for the FOMC minutes and taking in all of the speeches from various Fed officials in the meantime. On the other, this week may just be a void in an otherwise turbulent year thanks to a lack of major catalysts and the US Thanksgiving bank holiday

22-11-2022 11:18 GMT by Craig Erlam

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