Commodities News
Commodity market news including oil prices, gold, silver, natural gas, and agricultural futures. Track supply, demand, and geopolitical price drivers.
Oil Surges Past $110 on Iran Strait Tensions, Futures Swing
Oil spiked above $110 after Iran claimed to repel a US warship near the Strait of Hormuz, though US officials denied any strike. Brent crude briefly topped $113, and US stock futures swung sharply.
Hormuz Crisis Looms Over Oil Markets as Physical Prices Surge
Brent crude slipped to $108.17 on Friday after Iran proposed talks, but the Strait of Hormuz remains disrupted, and physical crude grades trade near $130, signaling further price spikes ahead.
Brent Crude Hits $126 as Iran Tensions Threaten Global Oil Supply
Brent crude spiked above $126 a barrel on Thursday as traders priced in an extended Strait of Hormuz closure and potential US military action against Iran.
Indiana Gas Nears $5 as Refinery Snag and Strait Tensions Spike Prices
Indiana's average gas price jumped to $4.417, with some stations hitting $4.99, as BP's Whiting refinery outage and Strait of Hormuz tensions rattle supply.
Gold vs Oil: Which Hedge Wins as Inflation Fears Resurface?
Brent crude spiked to $126.41 on Strait of Hormuz closure, while gold rose 2.2% to $4,639.26. History shows oil hedges quickly in energy-driven inflation, but gold protects capital longer-term.
Brent Crude Plunges After Spiking Above $126 on Iran Tensions
Brent crude briefly topped $126 a barrel before sliding to $115.98 as markets weighed US military options against Iran and potential disruptions at the Strait of Hormuz.
U.S. Gasoline Prices Surge to $4.229, Outlook Points Higher Amid Supply Squeeze
U.S. gasoline prices hit $4.229 per gallon, the highest since July 2022, driven by falling inventories, refinery outages, and crude above $100. The outlook points to further increases as summer demand nears.
Gold Slides for Third Day as Fed Policy and Iran Tensions Weigh
Gold dropped for a third day to $4,545.20 as traders weighed Fed rate policy and Iran war fears. Brent crude neared $119, Treasury yields climbed.
UAE to Exit OPEC on May 1, Reshaping Global Oil Dynamics
The United Arab Emirates will exit OPEC and OPEC+ on May 1, ending nearly six decades of membership, as it seeks greater production flexibility amid a Middle East supply crunch.
IEA Chief Warns Oil Crisis Has Permanently Damaged Trust in Fossil Fuels
IEA chief Fatih Birol warns the oil crisis has permanently damaged trust in fossil fuels as Brent tops $110. Global oil demand is set to contract by 80,000 bpd this year, with Asia imports hitting a decade low.