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The latest commodities coverage from the TrustFinance editorial desk.
The United States and Iran offered conflicting accounts on the status of peace talks, creating market uncertainty that was intensified by a new attack on a cargo ship in the Strait of Hormuz.
Cuba's national electrical grid suffered a second collapse in less than 24 hours on Monday, thwarting efforts to recover from a nationwide blackout and highlighting the severe strain on the country's aging infrastructure.
Vessel traffic through the critical Bab el-Mandeb and Strait of Hormuz waterways saw little change, as conflicting statements from Washington and Tehran keep the shipping industry on edge.
Gold prices remained in a tight trading range, hovering just above $4,050 per ounce, as markets balanced geopolitical tensions against expectations for a restrictive Federal Reserve policy ahead of key U.S. labor data.
Crude oil benchmarks recovered slightly after a sharp sell-off, as Iran's denial of ongoing peace talks with the U.S. renewed investor concerns over supply security in the vital Strait of Hormuz.
Crude oil benchmarks recovered slightly after a nearly 5% plunge, as markets weighed contradictory statements from Washington and Tehran regarding potential diplomatic talks over regional security.
U.S. crude oil exports fell to 3.66 million barrels per day in July, the lowest since last year, as a temporary increase in Middle Eastern supply and a narrowing price spread reduced international demand.
U.S. President Donald Trump announced that surprise talks with Iran are ongoing, calling it a 'last chance' for a deal. The news triggered a sharp sell-off in crude oil futures on expectations of reduced geopolitical risk.
Venezuela's crude oil exports fell to a five-month low of 856,000 barrels per day in July, a 25% drop from the prior month, as shipments to India were halved amid easing Mideast supply concerns.
