Commodities News
Commodity market news including oil prices, gold, silver, natural gas, and agricultural futures. Track supply, demand, and geopolitical price drivers.
Silver Surges Past $76 as Dollar Weakens, Fragile Ceasefire Stirs Markets
Spot silver climbed 2.9% to $76.24 per ounce on Thursday, extending recent gains. The rally was fueled by a weaker U.S. dollar and a precarious ceasefire between the U.S. and Iran, with traders awaiting key inflation figures.
Gold Rebounds as Dollar Weakens, Traders Eye Iran Ceasefire and CPI Data
Gold prices advanced sharply on Thursday, buoyed by a softer U.S. dollar and lower Treasury yields. Market focus remains on geopolitical tensions and upcoming U.S. inflation figures.
Gas Price Relief Stalls as Strait of Hormuz Blockade Persists
A recent U.S.-Iran ceasefire has failed to quickly reopen the vital Strait of Hormuz, keeping oil supply constrained and gasoline prices elevated. Brent crude rebounded 3% on Thursday, signaling a persistent risk premium in the market.
Occidental Petroleum Shares Drop Amid Oil Price Retreat, CEO Succession in Focus
Occidental Petroleum stock declined in premarket trading, tracking lower oil prices after a U.S.-Iran ceasefire. Wolfe Research lifted its price target to $70, but analysts remain cautious ahead of CEO Vicki Hollub's expected retirement and first-quarter results due May 5.
Gasoline Prices Defy Oil Drop, California Faces $7.50 Per Gallon
National gasoline averages held above $4 per gallon Wednesday despite falling crude prices, with California drivers facing prices nearing $7.50 in some areas as refinery issues and logistical challenges compound geopolitical pressures.
Oil Prices Surge Amid Hormuz Blockage, OPEC+ Move Fails to Ease Supply Crunch
Oil prices climbed Monday with WTI closing at $112.41 and Brent at $109.77 as the Strait of Hormuz remains largely blocked. OPEC+'s modest production increase fails to offset significant supply disruptions.
U.S. Natural Gas Gains on Late Cold, But Oversupply Concerns Loom
U.S. natural gas futures advanced Monday as a late-season cold wave increased heating demand, though elevated storage levels and a bearish long-term price outlook from the EIA tempered the rally.
Silver Retreats as Rate Cut Hopes Dim and Middle East Tensions Stoke Inflation
Silver declined 0.9% as major banks pushed back Fed rate cut projections. Escalating Middle East tensions threaten higher oil prices, potentially keeping inflation elevated and central banks on hold.
Gold Steadies Near $4,670 Amid Iran Deadline, Fed Rate Outlook
Gold traded near $4,670 an ounce on Monday, stabilizing after early losses as markets weighed geopolitical tensions and shifting interest rate forecasts. Spot gold was little changed at $4,669.27.
Delta Axes LA-Anchorage Summer Route Amid Soaring Fuel Costs, Airport Delays
Delta Air Lines has canceled its planned summer nonstop service between Los Angeles and Anchorage, citing skyrocketing fuel expenses. Concurrently, Ted Stevens Anchorage International Airport is experiencing significant delays due to slush and deicing operations.
Asia Imposes Fuel Curbs as Hormuz Crisis Escalates, Boosting Renewables
Asian governments have expanded emergency fuel measures as the prolonged Strait of Hormuz crisis keeps energy costs elevated, prompting rationing, tax cuts, and a pivot toward renewable energy sources.
Oil Crisis Intensifies as Brent Hits 2008 Peak, Hormuz Blockade Sparks Global Fuel Fears
Global oil markets face severe strain as Dated Brent crude reaches $141.37 per barrel, a level not seen since 2008, amid an ongoing blockade of the critical Strait of Hormuz shipping lane. U.S. gasoline prices are projected to surge toward $5 per gallon while European officials consider fuel rationing measures.