Commodities News
Commodity market news including oil prices, gold, silver, natural gas, and agricultural futures. Track supply, demand, and geopolitical price drivers.
Aramco Cuts October Crude for European Refiners; Brent Slides
Saudi Aramco reportedly told two European refiners they will receive no October crude after a pipeline attack. Brent fell 4.9% to $99.71, reflecting market skepticism.
Trucker Strike Rumors Debunked as Diesel Prices Hit Record $6.285
No verified nationwide trucker strike is scheduled for Oct. 1, despite social media claims. Diesel prices hit a record $6.285, but J.B. Hunt (JBHT) shares showed no panic.
Hecla Rides Silver Surge to $18.96; Keno Hill Still a Cost Wildcard
Hecla Mining (HL) climbed 5.4% to $18.96 as silver futures surged 2.22% to $65.72. Keno Hill remains outside AISC, tempering the bullish outlook.
Ontario Gas Price Drop Forecast for Friday, But Relief May Be Short-Lived
En-Pro forecasts a 9-cent drop in Ontario gas prices Friday, but futures point to a potential rebound. Suncor (SU) and Imperial Oil (IMO) shares show little movement.
US Beef Import Quota Opens 300K Tons; JBS Not Sole Beneficiary
The US opens a 300,000-ton lean beef import quota, not exclusive to JBS. Ground beef prices hit $6.923/lb, up 9.6% YoY. Tyson cuts beef outlook.
Australian Fuel Wholesale Costs Surge as Diesel Outpaces Petrol
Australia's wholesale fuel costs accelerated, with diesel up 16.2 cents to 267.0 cents a litre in four days. Brent crude at $107 drives pressure, with supply cushion easing concerns.
Gold Rebounds Above $4,300 After Fed Shock, Yet Futures Lag
Gold rebounded above $4,300 in Asian trading Thursday, but futures still lag the prior settlement after the Fed's rate hike. COMEX gold fell 1.26% to $4,332.40.
Silver Rally Fades as Fed Signals Further Rate Hikes
Silver's pre-Fed rally vanished as the Fed's rate projections pointed to another hike, pushing COMEX silver down 4.1% from its high.
Brent Dips Below $106 as Fuel Stockpiles Rise
Brent crude slipped below $106 a barrel as US inventory data revealed larger-than-expected builds in gasoline and distillates, offsetting a smaller-than-anticipated crude draw.
Toronto Gas Prices Set to Spike Again as Winter-Blend Relief Fades
Toronto's brief winter-blend discount is set to vanish Thursday as prices are forecast to jump six cents to 189.9¢ per litre, erasing most recent savings.
Furnace Oil Prices Soar 84% in PEI Amid Refinery Shutdown
PEI furnace oil prices have jumped 84% year-over-year, reaching C$2.159/L, driven by soaring crude costs and a 75-day refinery turnaround at Irving Oil's Saint John facility.