Commodities News
Commodity market news including oil prices, gold, silver, natural gas, and agricultural futures. Track supply, demand, and geopolitical price drivers.
U.S. Gasoline Prices Hit 22-Month High as Crude Rally Intensifies
The national average for regular gasoline reached $3.675 per gallon on Saturday, the highest level since May 2024, driven by Brent crude prices above $100 per barrel and tightening supply conditions.
Natural Gas Futures Slide on Warm March Outlook, EIA Trims 2026 Forecast
U.S. natural gas futures declined sharply Friday, pressured by forecasts for mild late-winter weather reducing heating demand. The Energy Information Administration reduced its 2026 Henry Hub price outlook due to elevated storage inventories.
Drone Strike at Fujairah Sends Oil Above $103, Deepening Hormuz Supply Crisis
Oil prices climbed as a drone attack disrupted operations at the UAE's Fujairah port, intensifying fears over Strait of Hormuz supply routes. Brent crude settled at $103.14 a barrel.
Gold Dips as Dollar Gains, Banks Hold Firm on $6,200 Outlook
Gold declined 0.5% to $5,052.15 an ounce, pressured by a robust dollar and persistent inflation. Despite the weekly loss, major financial institutions reaffirmed bullish long-term forecasts, with several targeting prices above $6,200.
Santos Shares Climb on $100 Oil and Moomba Cost-Cutting Initiative
Santos Ltd shares advanced as oil prices broke above $100 a barrel, with the company also announcing a major cost-optimization project at Moomba. The energy producer plans workforce reductions following a profit decline.
Cleveland-Cliffs Leads Steel Sector Lower Amid Auto Demand Woes
Cleveland-Cliffs shares dropped over 5% on Friday, the steepest decline among major U.S. steel producers, as the sector faced pressure from weak automotive demand and a broader market selloff.
Panama Canal Sees Traffic Rise as Middle East Tensions Reroute Shipping
The Panama Canal is experiencing increased vessel traffic as geopolitical tensions near the Strait of Hormuz and rising fuel prices make the shorter route more economical. Tanker crossings surged 11.2% in the first four months of the fiscal year.
Vale Shares Slip on RBC Downgrade Despite Record Iron Ore Output
Vale's stock declined as RBC downgraded the shares, arguing the recent rally has made them fairly valued. The move overshadowed strong operational results, including record annual iron ore output and a major milestone in recovering ore from waste material.
Oil Surges Past $102 as Hormuz Closure Sparks Historic Supply Shock
Oil prices surged Friday with Brent crude exceeding $102 a barrel after the prolonged closure of the Strait of Hormuz created the largest supply shock ever recorded. Major producers like Saudi Arabia are cutting output significantly.
U.S. Natural Gas Dips on Record Supply Outlook, Diverging from Global LNG Surge
U.S. natural gas futures declined Friday, pressured by a record domestic production forecast, while global LNG prices soared above $20 amid supply diversions and geopolitical tensions.