Section
The latest commodities coverage from the TrustFinance editorial desk.
U.S. commercial crude oil inventories unexpectedly jumped by 17.4 million barrels last week, according to the EIA, marking the largest weekly build since January 2023 and pressuring oil prices lower.
China's refined copper production is forecast to fall for a second straight month in August due to a persistent shortage of raw materials, according to state-backed research firm Antaike. The decline highlights supply constraints for the world's top producer of the industrial metal.
U.S. commercial crude oil inventories surged by 17.4 million barrels last week, the biggest weekly increase since January 2023, according to data from the Energy Information Administration. The massive build was driven by a sharp rise in crude oil imports.
Investment funds and other non-commercial traders reduced their net long positions in Euronext milling wheat and rapeseed futures for the week ending August 7, according to the latest exchange data.
European wheat futures rebounded from a four-week low after a Ukrainian drone attack on Russia's Novorossiysk port suspended grain terminal operations, heightening fears of Black Sea supply disruptions.
Corn prices on the Chicago Board of Trade climbed after the U.S. Department of Agriculture lowered its forecast for domestic stockpiles, citing stronger export demand. Wheat and soybean futures also advanced.
Russia's Ministry of Agriculture is diverting grain shipments to alternative routes following a Ukrainian attack that halted operations at the key Black Sea port of Novorossiysk.
Gold prices fell on Thursday as investors cashed in on recent gains that were driven by softer U.S. inflation data, which had tempered expectations for further Federal Reserve interest rate hikes.
Crude oil prices fell sharply as both OPEC and the IEA slashed demand forecasts for 2026, and a surprise surge in U.S. inventories signaled weakening consumption, overshadowing ongoing geopolitical tensions in the Strait of Hormuz.
