Section
The latest commodities coverage from the TrustFinance editorial desk.
Gasoline refining margins in Northwest Europe dropped to $33.06 per barrel on Monday, a decline of more than $5, as crude oil futures fell sharply on expectations of easing geopolitical tensions in the Middle East.
The Nigerian National Petroleum Corporation has issued a spot tender for two September-loading crude oil cargoes as prices for West African grades remain supported by supply disruptions in the Middle East.
Black Sea Petroleum, the owner of Georgia's Kulevi refinery, announced it will complete its transition away from Russian crude oil by the end of September to comply with a recent European Union sanctions package.
President Donald Trump publicly called on major oil companies to immediately lower gasoline prices for consumers, citing their recent strong earnings and his administration's past support for the industry.
According to a new analysis, Deutsche Bank believes gold remains in a statistically rare 'explosive phase' and models a fair value of around $4,700 per ounce by year-end, maintaining its Q4 forecast at $4,600.
South Korea's central bank has established a new framework to buy gold from local producers, a move aimed at diversifying its supply chain and increasing its official gold reserves.
A U.S. Department of Agriculture plan to relocate thousands of employees from Washington D.C. is facing significant backlash, with union surveys indicating the vast majority of affected staff would resign rather than move, potentially jeopardizing key trade, research, and food aid programs.
The United States and Japan confirmed their first joint currency intervention since 2011, with Tokyo selling nearly $60 billion to support the yen after the currency recently fell to 40-year lows.
State-owned Oil and Natural Gas Corp will reserve 50% of its planned 1.75 million metric ton oil storage facility in Mangaluru for India's national strategic needs, a government official announced. The move is part of a broader effort to expand the country's energy security buffer with private sector participation.
