US Launches Direct Strikes on Iran, Sending Oil Prices Above $90
The U.S. military has initiated direct strikes against targets in Iran, a significant escalation of a five-month conflict that immediately triggered a sharp rise in global oil prices.
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Commodities
The latest commodities coverage from the TrustFinance editorial desk.
Latest in Commodities
Oil Prices Retreat as Tanker Traffic Persists Amid Widening Mideast Conflict
Crude benchmarks fell after a sharp rally, as shipping data indicated that some oil is still flowing from the Middle East despite escalating military actions involving the U.S. and Iran.
US Launches Airstrikes in Iran in Retaliation for Attacks, CENTCOM Confirms
The U.S. military has begun conducting airstrikes in Iran, a move U.S. Central Command described as a response to recent attempted attacks on American forces in the Middle East. The escalation is poised to heighten geopolitical tensions and could trigger significant volatility in energy and financial markets.
Oil Prices Ease After 8% Surge on Mideast Tensions, US Inventory Draw
Crude oil futures pulled back slightly in Asian trading after a major rally, as traders weighed a sharp drop in U.S. stockpiles against escalating military actions between the U.S. and Iran.
Speculative Funds Boost Bullish Euronext Wheat Bets, Data Shows
Non-commercial traders, including investment funds, significantly increased their net long position in Euronext milling wheat futures, according to the latest data from the exchange. The move signals growing bullish sentiment among speculators for the European benchmark.
Canola Futures Drop as U.S. Weather Forecasts Pressure Soyoil Market
Canola prices on the ICE exchange closed lower on Wednesday, tracking a decline in Chicago soyoil as the market's attention shifted to beneficial rain forecasts for the U.S. Midwest, overshadowing a sharp rally in crude oil.
USDA Pledges $25 Million for Arizona Screwworm Facility as Mexican Cattle Imports Resume
The U.S. Department of Agriculture will fund a $25 million facility in Arizona to disperse sterile flies, a key tool in fighting the flesh-eating New World screwworm. The move comes as the agency prepares to lift a year-long ban on cattle imports from Mexico aimed at lowering beef prices.
Trump Vows Forceful Response to Iran After Missile Attack on U.S. Forces
President Donald Trump said the U.S. would 'hit them very hard' after Iran's Revolutionary Guards claimed a ballistic missile attack on U.S. military sites in Jordan, escalating geopolitical tensions in the Middle East.
Northwest European Gasoline Margins Fall as Rising Crude Costs Squeeze Refiners
Gasoline refining margins in Northwest Europe fell to $42.55 per barrel on Wednesday, pressured by a significant increase in crude oil prices. The drop comes amid a slight build in U.S. gasoline inventories and ongoing refinery maintenance in Texas.