Section
The latest commodities coverage from the TrustFinance editorial desk.
The U.S. has initiated a phased reopening of its border to Mexican cattle imports after a year-long ban, but the move faces scrutiny due to an ongoing screwworm outbreak in northern Mexico.
The U.S. Treasury is expected to expand the scope of secondary sanctions targeting entities and countries that maintain business ties with Iran, according to a source familiar with the plans.
Morocco's state grains office, ONICL, has announced it will restart subsidized soft wheat imports from September 16 after halting them in June to prioritize the domestic harvest.
Iran has blacklisted 45 commercial tankers, including vessels owned by Saudi and UAE state firms, threatening them with fines and confiscation for allegedly violating its rules in the critical Strait of Hormuz.
European natural gas futures retreated from five-month highs on Monday, as traders took profits following a strong weekly rally and positioned themselves ahead of a major U.S. announcement on new sanctions against Iran.
A coalition of six European Union member states, including Germany and Italy, is formally requesting that the bloc discuss a new windfall tax on oil companies at a September meeting of finance ministers amid soaring energy prices.
Spot gold reached a high of $4,703.51, extending a powerful rally. However, key technical indicators suggest the market is deeply overbought, raising the risk of a significant price correction.
West Texas Intermediate crude oil is trading in a tight range near $85 per barrel, holding onto recent gains but showing signs of weakening momentum. Technical analysis points to a critical battle between a long-term uptrend and short-term bearish signals.
Copper futures are consolidating within a tight range defined by support at $6.50 and resistance at $6.65, with technical indicators pointing to significant market indecision ahead of a potential breakout or breakdown.
