Section
The latest commodities coverage from the TrustFinance editorial desk.
Former President Donald Trump announced that all mines have been removed from the Strait of Hormuz and warned Iran that any new mine-laying activity would be met with force. The statement comes as oil transit through the critical chokepoint remains severely restricted.
According to a note from Citi, gold's recent surge above key technical levels is primarily fueled by speculative futures trading, making it vulnerable to the outcome of the upcoming Jackson Hole economic symposium.
Global equity markets faced pressure as escalating U.S.-Canada trade tensions and a sell-off in technology shares, led by Alibaba, created a cautious mood among investors. Market participants are now looking toward key U.S. inflation and consumer confidence data for direction.
Citigroup raised its price forecasts for key agricultural commodities, warning that markets are underpricing the production risks from a potentially historic El Niño event.
European natural gas prices stabilized near five-month highs on Tuesday after a new round of U.S. sanctions on Iran did not immediately disrupt physical supply, easing fears of a broader energy shock.
Sinopec's new chairman, Hou Qijun, is spearheading a major restructuring of the world's largest refiner to tackle institutional inertia and declining fuel sales, pivoting the state-owned giant towards new energy and advanced materials.
Geopolitical crises, including the six-month-old war in Iran and the ongoing conflict in Ukraine, have pushed the share of global oil production from conflict-affected nations to an unprecedented level of over 43%, according to a new analysis.
Crude oil benchmarks held steady after a recent drop, as investors weighed the impact of expanded U.S. economic sanctions against Iran versus a perceived lower risk of immediate military conflict.
The U.S. Treasury has expanded sanctions on Iran, threatening to cut off access to the dollar-based financial system for its trading partners, though it stopped short of immediately targeting Chinese banks. Iran has vowed to retaliate against the measures.
