Section
The latest commodities coverage from the TrustFinance editorial desk.
Russia's agriculture ministry is seeking alternative export routes for its grain after a Ukrainian attack forced the shutdown of major terminals at the key Black Sea port of Novorossiysk. The disruption underscores the escalating risks to global commodity supply chains stemming from the conflict.
European wheat futures recovered from four-week lows after Ukrainian attacks on Russian grain terminals in the Black Sea raised concerns over potential supply disruptions. The most-active December contract gained over 2% as the conflict threatened a key export route.
Non-commercial traders, including investment funds, reduced their net long position in Euronext milling wheat futures and options for the week ending August 7, according to exchange data.
U.S. crude oil stockpiles unexpectedly surged by 17.4 million barrels last week, the largest weekly gain since January 2023, according to the EIA. The report, which defied expectations for a draw, sent oil futures lower on signs of a supply glut.
U.S. commercial crude oil inventories surged by 17.4 million barrels last week, the largest weekly increase in over three years, driven by a sharp rise in imports, according to the Energy Information Administration.
Bangladesh has approved a long-term deal with U.S.-based Gunvor for 117 LNG cargoes through 2038 and secured additional spot purchases to bolster its energy security amid global market volatility.
Donald Trump claimed on Wednesday that the United States has 'total control' over the Strait of Hormuz, a critical chokepoint for global energy supplies. The statement highlights ongoing geopolitical sensitivities surrounding the vital maritime passage.
Riyadh is building new military and maritime alliances with regional powers to deter escalating attacks from Iran and its proxies, seeking to safeguard its economic agenda without being drawn into a wider conflict.
The Organization of the Petroleum Exporting Countries has reduced its forecast for 2026 global oil demand growth to 580,000 barrels per day, marking the fourth consecutive downward revision amid a shifting medium-term outlook.
