Section
The latest commodities coverage from the TrustFinance editorial desk.
European natural gas benchmarks are heading for their largest weekly increase since late July, driven by a diplomatic breakdown over the Strait of Hormuz that is choking off LNG supplies and exacerbating concerns over low winter stockpiles.
Crude oil prices are on track for their first weekly gain in three weeks, supported by a significant risk premium from escalating U.S.-Iran tensions and broader supply uncertainties in the Middle East, which are currently outweighing concerns over weakening global demand.
According to a recent report, Citibank believes the backdrop for gold is improving as U.S. short-term rates peak, but advises investors to wait for a price consolidation before adding exposure.
Chicago wheat futures climbed on Friday as a Ukrainian attack on a Russian port and Moscow's rejection of a ceasefire proposal fueled concerns over potential disruptions to grain exports.
West African crude oil differentials were largely unchanged at the end of a week marked by quiet trading, contrasting with a rally in global benchmarks Brent and WTI driven by Middle East supply concerns.
The main sea freight index rose Friday, driven by gains in the Capesize segment, but fell for the week on softer demand for larger vessels. The index is a key barometer for global trade and commodity demand.
Brent crude oil is consolidating within a narrow price band as technical indicators point to weakening momentum, leaving the market searching for a clear directional catalyst.
Wheat futures gained on Friday, posting a weekly increase as escalating military actions in the Black Sea region heightened market concerns over potential disruptions to global grain shipments.
India has reduced its windfall profit tax on exported diesel and aviation fuel and completely removed the levy on gasoline, with the changes taking effect Saturday, according to a government order.
