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The latest commodities coverage from the TrustFinance editorial desk.
The number of vessels tracked in the key oil chokepoint fell to just eight on Tuesday, according to Kpler data, as shipowners avoided the area due to ongoing military tensions in the Middle East.
Gold prices rose as investors weighed the inflationary impact of geopolitical uncertainty in the Strait of Hormuz against a pivotal U.S. inflation report that could guide the Federal Reserve's next interest rate decision.
Crude oil benchmarks advanced as geopolitical risks in the Middle East, including attacks on shipping, overshadowed preliminary data showing a substantial increase in U.S. crude inventories.
President Donald Trump confirmed he was moved between planes via a catering truck due to a potential Iranian threat, telling reporters the plane he ultimately used was at 'greater risk.' The incident highlights geopolitical tensions that investors monitor for potential market impact.
Crude oil benchmarks rose Wednesday, nearing a two-week peak as the continued closure of the Strait of Hormuz and persistent Houthi attacks on shipping stoked fears of prolonged supply disruptions from the Middle East.
Debris from a drone attack has damaged multiple buildings in the Russian Black Sea port of Novorossiysk, a major hub for commodity exports, according to the city's mayor. The incident is part of an escalating series of cross-border strikes impacting critical infrastructure.
ICE canola futures dropped significantly on Tuesday, with the November contract falling $13.80 to $781 per metric ton. The decline was primarily driven by a sell-off in the U.S. soyoil market and other related oilseeds.
Weekly data from the American Petroleum Institute revealed a significant build in U.S. crude oil stockpiles, while inventories of gasoline and distillates both fell, presenting a mixed signal for the energy market.
A federal appeals court has struck down a Biden-era Department of Energy rule setting new efficiency standards for kitchen appliances, ruling that the agency improperly bypassed public comment procedures.
