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’s big week, gold declines

Oil gains driven by OPEC+ Crude prices held onto the majority of this week’s OPEC+ driven gains after the NFP report showed the labor market remains strong but is showing signs of cooling. A strong dollar is eating away at some crude’s weekly gains, but that won’t have a lasting impact. OPEC+ showed their cards this week and that will keep oil markets very tight as we approach winter. OPEC+ has done whatever it takes and is now awaiting to see what the reaction will be from world leaders.

07-10-2022 09:53 GMT by Edward Moya

Oil shines as OPEC cuts, gold eyes NFP

Oil rallies 10% this week amid OPEC+ cut Oil prices appear to have steadied after bursting higher over the last week in anticipation of and reaction to the massive production cut announced by OPEC+ on Wednesday. Brent and WTI are more than 10% higher on the week after the alliance cut output targets by two million barrels per day. While the net effect will be much smaller, maybe half or less, due to the inability of numerous members to actually hit previously agreed targets, it is still consider

07-10-2022 03:15 GMT by Craig Erlam

Gold - Running into resistance

OANDA Senior Market Analyst Craig Erlam discusses the recent recovery in gold and questions whether it will continue.

06-10-2022 16:15 GMT by Craig Erlam

Oil keeps rising, Gold awaits NFP

Oil It is getting hard to bet against higher crude prices. This week’s OPEC+ decision was a game changer for the oil market, as it signals tight conditions will remain throughout this winter. Energy traders are not really believing that the Biden administration will be able to do anything quickly to stop the rally in oil prices. The NOPEC bill seems like it has a lot of barriers and won’t be an immediate course of action. The SPR has been tapped already and the US is dangerously depleting in

06-10-2022 13:18 GMT by Edward Moya

OPEC cuts production, gold pares gains

OPEC+ boosts oil prices after large cut Oil prices are edging lower today after OPEC+ announced a huge production cut on Wednesday of two million barrels per day. With the group failing to hit output targets by a widening margin as the year has progressed, the net cut will be around half that, if not less, but that's still a substantial reduction in an already tight market. Of course, the global economy is slowing as a result of an inflation and interest rate shock - which soaring oil prices and

06-10-2022 09:19 GMT by Craig Erlam

OPEC+ delivers, gold pares this week’s gains

OPEC+ agrees to cut production OPEC+ agreed to cut their production target by 2 million barrels a day. OPEC+ is keeping the oil market tight with the biggest output cut since 2020. The production cut was driven by uncertainty that surrounds the global economic and oil market outlooks.

05-10-2022 14:00 GMT by Edward Moya

OPEC cut likely, gold faces resistance

A substantial OPEC+ cut incoming Today's OPEC+ meeting has been heavily speculated about this week, as delegates have hinted at increasingly large output cuts in response to a dimming economic outlook and lower prices. Last month's warning shot of 100,000 barrels per day fell on deaf ears and the alliance may now be prepared to cut by 10 times that, even 20 if some sources are to be believed. Adding to the uncertainty is the prospect of a group cut backed up by additional unilateral reductions,

05-10-2022 12:16 GMT by Craig Erlam

Market Insights Podcast (Episode 382)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the UK fiscal situation, Japanese intervention, OPEC+ and the week ahead.

05-10-2022 09:24 GMT by Craig Erlam

US Close: Stocks surge as the peak in rates is in place, 1.1 million job openings disappear, RBA downshifts, Oil surges as OPEC+ eyes potential 2 million bpd cut, Gold stronger, Bitcoin above $20k

Wall Street sees light at the end of the Fed rate hiking tunnel and the scramble to pick up stocks is on. Investors are growing confident that the peak in rates was made last week.

04-10-2022 15:49 GMT by Edward Moya

OPEC+ meeting looms, gold has momentum

All eyes on OPEC+ Oil prices are continuing to creep higher ahead of the OPEC+ meeting on Wednesday. Markets are now expecting a large output cut in excess of one million barrels per day, for which there is seemingly plenty of support.

04-10-2022 06:03 GMT by Craig Erlam

OPEC+ expected to deliver massive output cut, gold shines

Oil fireworks? An in-person OPEC+ meeting means get your popcorn ready and prepare for some fireworks. Energy traders are pumping up crude prices ahead of the OPEC+ meeting as expectations are high that they will deliver the biggest reduction in output since the beginning of the pandemic. This will be the first in-person meeting since 2020, which means they will probably go big here and deliver a cut of more than 1 million bpd. Despite everything going on with the war in Ukraine, OPEC+ has nev

03-10-2022 12:24 GMT by Edward Moya

All eyes on OPEC+, gold ticks higher

How much will OPEC+ cut by? Markets have been awash with OPEC+ speculation this morning, with reports suggesting the group will consider an output cut in excess of one million barrels per day and that Saudi Arabia could unilaterally add to that. After a year of tolerating extremely high prices, missed targets and severely tight markets, the alliance seemingly has no hesitation when it comes to acting rapidly to support prices amid a deterioration in the economic outlook. Any cut will no doubt fr

03-10-2022 09:31 GMT by Craig Erlam

Oil edges higher, gold rally continues

Oil edges higher into the weekend Oil prices are rising again as we head into the weekend, with the focus now on the OPEC+ meeting next week. There's been plenty of rumours about how the alliance will respond to the deteriorating economic outlook and lower prices.

30-09-2022 07:08 GMT by Craig Erlam

US close – stocks slump on Fed hawks and hot economic data, Apple and Meta hit hard, dollar softens into quarter-end, oil falls, gold pared losses, bitcoin holds onto $19k

US stocks are weakening once again after hot inflation readings and another round of hawkish Fed speak. Risky assets don’t stand a chance of a meaningful rally if the economy continues to show resilience while inflation continues to be significantly above the Fed’s Funds rate. Fed’s Mester signaled that a recession won’t prevent the Fed from tightening policy further and Bullard reiterated their determination to get rates to a level that can cool inflation. Big-Tech Woes

29-09-2022 16:26 GMT by Edward Moya

Oil in choppy waters, gold recovers

Oil choppy amid OPEC+ rumours The battle between the economic outlook and OPEC+ continues in the oil market, with prices boosted by reports of discussions between producers around an output cut ahead of the meeting next week. This shouldn't come as a huge surprise under the circumstances as the alliance has previously alluded to its willingness to cut further if fundamentals change. The question is whether they'll take the leap given the enormous uncertainty in the economic outlook at this poi

29-09-2022 13:00 GMT by Craig Erlam

Energy traders eye OPEC+ supply cuts, gold rallies as yields tank

Oil Energy traders are widely awaiting the next OPEC+ meeting that will likely make sure the oil market remains tight. Oil is back above the $80 level on seasonal stockpiling, some resilience in the economy that is delaying recession risks, and mostly on expectations OPEC+ will cut production between 500k and 1 million bpd.

28-09-2022 12:51 GMT by Edward Moya

Oil pares gains, gold loses ground

Oil rebound brief as gas spikes amid sabotage on Nord Stream pipelines Oil prices rebounded on Tuesday but that proved to be only a brief correction as economic doom and gloom has driven them lower again this morning. With Brent trading only a little above $80 and WTI below, you have to wonder how much more OPEC+ will tolerate and the size of output cut they may be considering next week in light of the new economic outlook and price. Gas prices have also been highly volatile in light of the late

28-09-2022 04:06 GMT by Craig Erlam

Mid-Market Update: Stocks fragile rebound, crude stabilizes, gold bounce, bitcoin above $20k

After stocks fell to the lowest levels since 2020, Wall Street called a timeout to the massive rout that has many traders fearing central banks worldwide will trigger severe recessions. The latest round of Fed speak provide some optimism that the Fed is getting close to finishing up this rate-hiking cycle. Fed’s Evan said it will be appropriate to slow the pace of rate hikes at some point, while Bullard noted that US rates have arguably moved into restrictive territory. Today’s stock market

27-09-2022 11:11 GMT by Edward Moya

Gold and oil rebound, bitcoin above $20,000

Oil pares losses ahead of next week's OPEC+ meeting Oil prices are recovering following the sell-off over the last couple of sessions. The prospect of a deeper economic slowdown, perhaps even global recession, has naturally turned traders more bearish on the price of oil as demand would naturally slump in those circumstances relative to prior expectations. Of course, there is another side to that equation, supply.

27-09-2022 06:43 GMT by Craig Erlam

Oil and gold slide, bitcoin resilient

Oil slips further amid economic concerns Economic woes continue to weigh on oil prices, with Brent and WTI off around 1% again today and trading at pre-invasion levels. With more and more central banks being forced to take extraordinary measures no matter the cost to the economy, demand is going to take a hit which could help rebalance the oil market. Of course, OPEC+ has made its position on this perfectly clear and should it wait until the next scheduled meeting on 5 October, I expect there'

26-09-2022 12:16 GMT by Craig Erlam

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