Crude oil futures surged after Iran reiterated its conditions for reopening the vital Strait of Hormuz shipping lane, fueling uncertainty over global supplies despite a U.S. rejection of the proposal.
Gold prices extended their decline on Monday, dropping over 2% as rising oil prices fueled inflation fears and strengthened expectations for further U.S. Federal Reserve interest rate hikes.
Copper futures declined to their lowest level in over a week, pressured by slowing industrial profit growth in top consumer China and a strengthening U.S. dollar, which raised concerns about global demand.
Benchmark European natural gas futures rose sharply on Monday, reversing the prior week's losses, as stalled diplomatic talks in the Middle East and surging crude oil prices renewed concerns over long-term energy supply security.
Exports from the Red Sea port have restarted following a 17-day halt caused by a drone attack on the crucial East-West Pipeline, according to a Bloomberg report.
The main sea freight index for dry bulk commodities fell on Monday, pressured by a sharp decline in rates for larger Capesize vessels amid weakness in the iron ore market.
Deutsche Bank forecasts copper could surge nearly 50% by mid-2027, citing aggressive inventory building by the U.S. and China that could strain global supplies.
Silver futures fell to a one-month low of $61.725 as a spike in oil prices, driven by renewed U.S.-Iran tensions, combined with soaring Treasury yields and a strong dollar to trigger a sharp sell-off.
Gold prices fell sharply after President Trump rejected an Iranian proposal, causing oil to surge and bolstering expectations for another Federal Reserve rate hike. Rising bond yields and a stronger dollar weighed heavily on the non-yielding asset.
