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 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

Oil rebounds, gold gains ground

OPEC+ speculation drives oil market volatility Oil prices are bouncing back as OPEC+ members continue to reject reports of an output hike at the next meeting. An announcement from the G7 around the Russian oil price cap is due any day now and could complicate the group's mission to balance supply and demand in the market, especially if the Kremlin responds by slashing exports to participating countries, as they've threatened. That Russia is a key member of the alliance seriously complicates matt

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

Crude crushed, gold stumbles

Oil Crude prices remain heavy as China continues to have setbacks with its COVID fight. The warnings from key Chinese officials are the primary driver behind oil’s current slump.

21-11-2022 10:54 GMT by Edward Moya

Oil declines, gold dips lower

Oil slips further amid China woes The prospect of more restrictions and therefore lower demand in China has weighed on crude prices recently. Brent slipped back below $90 last week and could register the fourth day of declines if it remains in the red.

21-11-2022 04:10 GMT by Craig Erlam

US Close: Stocks fluctuate, Fed stays hawkish, dollar posts weekly gain, oil's bad week, gold declines, cryptos surprisingly find support

US stocks are acting like they are already feasted on a 12-pound turkey. Today's market moves were uninspiring as we did not learn anything new. The housing market is in a recession after existing home sales fell for a ninth straight month. The Fed is united in sticking to the hawkish script. Fed's Collins noted that a 75 basis-point rate increase is still on the table as there is no clear evidence that inflation is coming down.

18-11-2022 15:28 GMT by Edward Moya

Market Insights Podcast (Episode 400)

Jonny Hart looks back on the week's business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about commodities and cryptos. They address the fallout from the FTX, oil's bad week, and how hawkish Fed speak put an end to gold's rally. They also discuss what the week ahead has in store for financial markets.

18-11-2022 15:26 GMT by Edward Moya

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

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