Section
The latest commodities coverage from the TrustFinance editorial desk.
President Hakainde Hichilema has been re-elected with approximately 60% of the vote, though a strong opposition showing highlights widespread public frustration over the cost of living in the copper-rich nation.
Crude oil futures gained in Asian trading after a U.S.-Iran ceasefire deal expired without an extension, elevating geopolitical tensions surrounding the critical Strait of Hormuz.
Gold advanced as softer U.S. economic data led investors to reduce bets on another Federal Reserve rate hike, weakening the dollar. Geopolitical tensions and concerns over government debt provided additional support for the safe-haven metal.
U.S. Energy Secretary Chris Wright announced that the government will unveil new measures within days to help domestic refiners increase fuel production, aiming to combat gasoline prices that have surged above $4 per gallon.
Chicago soybean futures climbed on Monday, buoyed by a report from the National Oilseed Processors Association (NOPA) showing a stronger-than-expected processing pace in July. Support also came from higher crude oil prices and uncertainty over US crop yields.
Chicago Board of Trade corn futures rose as the market anticipated key yield data from the Pro Farmer crop tour, following a recent downward revision in USDA forecasts and concerns over Midwest weather.
Chicago wheat futures saw a minor decline as traders booked profits after recent gains. However, prices remain supported by ongoing military attacks and shipping disruptions in the crucial Black Sea export region.
The U.S. Interior Department has proposed a major deep-sea mining lease sale for December 2026, covering a vast area in the Pacific as part of an effort to bolster domestic supply chains for critical minerals.
Gasoline refining margins in Northwest Europe dipped to $42.22 per barrel but continue to be supported by tight supplies and active trading, even as analysts forecast increased future supply in the Atlantic Basin.
