Gold prices climbed to their highest level in three months, supported by a U.S. Treasury plan to buy back government debt which has weakened the dollar, and rising geopolitical and trade friction.
Crude oil benchmarks edged higher as investors evaluated the latest round of U.S. sanctions against Iran, which targeted numerous entities but stopped short of penalizing key oil buyers.
Prices for Arabica coffee surged nearly 6% on Monday as the start of the futures delivery period coincided with critically low certified inventories, signaling tightness in the physical market.
Chicago soybean futures fell on Monday, weighed down by a sharp drop in crude oil prices that hit the soyoil market, though strong U.S. export demand helped limit steeper losses.
Treasury Secretary Scott Bessent confirmed the department will continue its regular debt auctions, even as it prepares to double the size of its bond buyback program for longer-dated securities starting in September.
Prices for U.S. renewable fuel credits (RINs) fell to their lowest level in over four months after the Environmental Protection Agency extended a compliance deadline for oil refiners. The market is anticipating a flood of new credits as the agency prepares to rule on dozens of small refinery exemption requests.
Tesla has ceased sales of its premium solar roof tiles, a product unveiled by CEO Elon Musk in 2016, signaling a strategic pivot towards traditional solar panels. The company continues to pursue large-scale solar manufacturing with a newly planned factory in Texas.
European diesel refining margins fell sharply on Monday, pressured by a significant narrowing of the premium for low-sulphur gasoil futures over Brent crude, even as traders monitor rising imports and a Russian refinery outage.
Amid threats of the 'toughest sanctions in history' from the U.S., Iran's potential retaliatory measures focus on disrupting critical global energy routes like the Strait of Hormuz and attacking regional infrastructure, posing significant risks to oil markets.
