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The latest commodities coverage from the TrustFinance editorial desk.
Gasoline refining margins in Northwest Europe rose for a second consecutive day on Friday, climbing by $1.74 to over $43 per barrel amid active trading and scrutiny of regional supply.
The number of active U.S. oil rigs edged higher to a new peak, according to Baker Hughes data, as a reported attack on two tankers nearly brought maritime traffic to a standstill in the critical Strait of Hormuz.
Ukraine's military announced it conducted long-range strikes against a Russian rocket production facility and a military airfield. The targeted rocket center is reportedly involved in developing Russia's 'Rassvet' satellite network, an alternative to SpaceX's Starlink.
The number of active U.S. oil rigs rose to its highest level since May 2025, according to Baker Hughes, as geopolitical tensions escalated in the Middle East, nearly halting tanker traffic through the critical Strait of Hormuz.
Former President Donald Trump urged Americans to accept higher fuel costs as necessary to prevent Iran from obtaining a nuclear weapon and suggested he would declare the Strait of Hormuz a U.S. territory.
The Indian government has lowered its special additional excise duty on exports of key petroleum products, eliminating the tax on petrol entirely, according to a government order.
European wheat futures posted a weekly gain as escalating military attacks in the Black Sea region heightened market concerns over potential disruptions to crucial grain shipments from Russia and Ukraine.
Chicago wheat futures rose sharply Friday after a Ukrainian attack on a Russian Baltic port and Moscow's rejection of a Black Sea ceasefire proposal heightened concerns over global grain supply disruptions.
Spot market differentials for West African crude oil remained largely unchanged amid a week of subdued trading, even as global oil benchmarks rose on heightened geopolitical tensions in the Middle East.
