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The latest commodities coverage from the TrustFinance editorial desk.
The United States and Israel are reportedly planning a bombing campaign against energy infrastructure in Iran, with potential strikes over the weekend, according to a CBS News report citing unnamed sources.
Chicago wheat futures recorded their first monthly gain in three months, driven by escalating supply risks in the Black Sea region, despite a price pullback in Friday's session.
A tanker under EU and UK sanctions is leaking Russian crude oil off the coast of Oman, with satellite imagery confirming a spreading slick that raises significant environmental concerns. The incident highlights the growing risks associated with the 'shadow fleet' used to circumvent oil sanctions.
The issuer of the USDT stablecoin increased its gold holdings to 146 tons, valued at $18.8 billion, according to its latest quarterly report, which also showed a significant drop in net profit year-over-year.
European wheat prices declined as traders secured profits from a recent rally driven by Black Sea supply risks. The drop occurred despite a tightening EU supply forecast from the European Commission.
Gasoline refining margins in Northwest Europe dropped sharply to $38.64 a barrel as regional stockpiles surged by 21% amid weak demand and limited export opportunities.
The number of active U.S. oil and gas rigs increased slightly for the week ending July 31, marking a continued, gradual rebound in drilling activity, according to data from Baker Hughes. The count is now up 9% from the same period last year, signaling producer confidence amid forecasts for record domestic output.
The U.S. Bureau of Reclamation has proposed a decade-long framework for managing the drought-stricken Colorado River after seven Western states failed to reach a consensus on water allocation.
Crude oil futures rose over 1% Friday following unverified reports from Iran that its forces stopped vessels in the critical Strait of Hormuz, heightening investor concerns over global energy supply security.
