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The latest commodities coverage from the TrustFinance editorial desk.
U.S. commercial crude oil and gasoline stockpiles fell last week, according to the Energy Information Administration, as refineries boosted processing rates to meet peak summer driving demand.
The Indian government has announced a significant increase in its windfall profit tax on exported diesel and aviation turbine fuel, effective July 16, responding to a surge in global oil prices.
A major wildfire that scorched over 2,000 hectares in the historic Fontainebleau forest has been contained, leading to significant travel disruptions. French authorities have arrested two teenagers, including a volunteer firefighter who confessed to starting a blaze.
European wheat futures jumped to their highest level since June 2025 on Wednesday, driven by escalating attacks on Ukrainian ports that have raised significant concerns over global grain supply chains.
The U.S. soybean crush for June topped market forecasts at 214.340 million bushels, a 15.7% year-over-year increase, as processing rates recovered from seasonal maintenance, according to the National Oilseed Processors Association (NOPA).
Gasoline refining margins in Northwest Europe climbed to $43.69 per barrel, the highest in four years, driven by a larger-than-expected drop in U.S. stockpiles and lower crude oil prices.
Goldman Sachs strategists are flagging significant upside risks to oil prices, warning that renewed attacks on tankers in the Strait of Hormuz could push Brent crude above $110 per barrel in the fourth quarter.
The benchmark European natural gas contract climbed to its highest level since March, driven by fears that an escalating U.S.-Iran conflict could disrupt global LNG supplies through the Strait of Hormuz.
An intensifying drought across the Colorado River basin is pitting agricultural producers against growing cities and industrial users, as federal officials consider historic cuts to water allocations for millions. The scarcity is forcing economic trade-offs and fueling interstate disputes over the dwindling resource.
