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The latest commodities coverage from the TrustFinance editorial desk.
A major earthquake in Colombia has brought coffee exports to a near standstill after blocking access to the nation's primary port of Buenaventura, according to the country's coffee exporters association.
U.S. crude oil stockpiles rose sharply for the week ending August 7, while gasoline and distillate inventories fell, according to industry data from the American Petroleum Institute.
Gold prices climbed to their highest level since early June, driven by expectations of Fed policy easing and strong central bank demand, as investors brace for a crucial U.S. inflation report.
Gold prices maintained gains on Wednesday after the latest U.S. consumer price index met expectations, leaving the Federal Reserve's next policy move uncertain. The precious metal is also finding support from geopolitical tensions and strong central bank buying.
International oil prices rose on Wednesday, with Brent crude nearing $90 a barrel, after a fatal Houthi attack on a commercial vessel in the Red Sea intensified concerns over supply disruptions in key global shipping lanes.
Benchmark natural gas futures in Europe extended gains, driven by concerns over winter supply security as EU storage facilities fell to a record low for this time of year.
Bangladesh has approved a 12-year agreement with U.S. energy trader Gunvor for 117 LNG cargoes starting in 2026, a move to enhance energy security amid volatile global markets.
The U.S. government has offered a vast tract of over 81 million acres in the Gulf of Mexico for oil and gas leasing, but pre-sale data shows that energy companies submitted bids on less than 1% of the available area.
Analysts at Citi have reiterated a bullish forecast for silver, predicting the precious metal could reach $90 per ounce within a year as recovering investor demand is expected to outweigh a slowdown in industrial use.
