Commodities News

Commodity market news including oil prices, gold, silver, natural gas, and agricultural futures. Track supply, demand, and geopolitical price drivers.

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US Refiners Surge as Diesel Margins Hit Record on Hormuz Disruptions
Commodities Rebecca Torres

US Refiners Surge as Diesel Margins Hit Record on Hormuz Disruptions

US refiners surged last week as diesel margins hit record highs, with a basket of Valero, Marathon Petroleum, and Phillips 66 jumping over 10%.

VLO MPC PSX XOM CVX USO
Newmont Stock Dips as April Buyback Equals 6.3% of Market Cap
Commodities Rebecca Torres

Newmont Stock Dips as April Buyback Equals 6.3% of Market Cap

Newmont shares declined 5.9% last week, as a $6 billion buyback approved in April now equals 6.3% of its market value. Q2 results are due Thursday.

NEM GDX AEM GLD USO
US Diesel Hits $5.088 as Geopolitical Tensions Boost Refiner Margins and Shipping Costs
Commodities Rebecca Torres

US Diesel Hits $5.088 as Geopolitical Tensions Boost Refiner Margins and Shipping Costs

US diesel prices hit $5.088 per gallon, with the premium over gasoline nearly doubling from last year, driven by geopolitical tensions rather than domestic demand.

VLO PSX MPC FDX UPS USO
Hecla Mining Slips as Silver Prices Trail Q1 Realized Levels by 32%
Commodities Rebecca Torres

Hecla Mining Slips as Silver Prices Trail Q1 Realized Levels by 32%

Hecla Mining (HL) shares dipped as silver prices continued to trade 32% below the company's first-quarter realized average.

HL CDE PAAS AG SLV GLD
Gold Rebounds Past $4,000 as Oil Surge and Rate-Hike Fears Cap Gains
Commodities Rebecca Torres

Gold Rebounds Past $4,000 as Oil Surge and Rate-Hike Fears Cap Gains

Gold climbed back above $4,000 on Friday, buoyed by bargain hunting, but remains under pressure from a 12% oil spike and rising Fed rate-hike expectations, with key support at $3,950.

GLD SLV USO CME BAC
BHP Copper Output Outlook Dims as Escondida Weighs on FY27 Guidance
Commodities Rebecca Torres

BHP Copper Output Outlook Dims as Escondida Weighs on FY27 Guidance

BHP shares dropped 2.34% after FY27 copper guidance signaled an 11.7% decline, with Escondida responsible for 93% of the deficit. Record iron ore output provides a buffer.

BHP
Oil Surge Challenges Fed's Inflation Progress, Complicates Rate Path
Commodities Rebecca Torres

Oil Surge Challenges Fed's Inflation Progress, Complicates Rate Path

A sharp 11% rally in oil prices over the past week is casting doubt on the Fed's ability to pause rate hikes, after June CPI showed a 0.4% drop driven by lower fuel costs.

USO CME SPY QQQ
BHP copper price reliance intensifies as output set to drop 12% in FY2027
Commodities Rebecca Torres

BHP copper price reliance intensifies as output set to drop 12% in FY2027

BHP Group (ASX:BHP) expects a 12% drop in copper output for fiscal 2027, requiring copper prices near $6.50/lb to offset the volume loss.

BHP RIO
Woodside's Oil Rally Benefit Capped by Gas Mix and Hedging Strategy
Commodities Rebecca Torres

Woodside's Oil Rally Benefit Capped by Gas Mix and Hedging Strategy

Woodside Energy's exposure to the oil rally is tempered by its production mix and hedging, with only 25% of output unhedged crude. LNG price benefits will lag.

USO UNG
Scotiabank Slashes Hecla Mining Target on Production Woes
Commodities Rebecca Torres

Scotiabank Slashes Hecla Mining Target on Production Woes

Scotiabank cut Hecla Mining's price target to $21 from $25, reducing projected equity value by $2.68 billion, even as it raised its silver price forecast.

HL CDE AG BNS SLV
Glencore's Congo Copper Surge Faces Mining Code Overhaul Risk
Commodities Rebecca Torres

Glencore's Congo Copper Surge Faces Mining Code Overhaul Risk

Glencore's copper output jump was driven by its Congo operations, but a proposed mining code revision poses operational risks.

GLD
BHP Seeks Arbitration as Port Hedland Strike Looms After Iron Ore Test
Commodities Rebecca Torres

BHP Seeks Arbitration as Port Hedland Strike Looms After Iron Ore Test

BHP Group has requested Fair Work Commission intervention as an eight-hour strike at Port Hedland nears, following a key iron ore production test. The walkout could impact early FY27 shipments.

BHP RIO