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The latest commodities coverage from the TrustFinance editorial desk.
A senior Iranian official stated that Tehran will stop its retaliatory attacks as long as the U.S. maintains its pause on a two-week bombing campaign, a conditional de-escalation that follows a spike in oil prices.
Iran-aligned Houthi rebels have attacked key Saudi Arabian oil infrastructure along the Red Sea, expanding the regional conflict even as direct U.S. strikes on Iran have been paused. The attacks threaten a major alternative shipping route to the blockaded Strait of Hormuz.
Producers of Switzerland's famous Gruyere cheese have reduced production by 5% to support prices after new U.S. import tariffs caused a sharp decline in sales to what was one of their most important markets.
Israeli Prime Minister Benjamin Netanyahu will travel to Washington for a meeting with President Donald Trump on Tuesday, according to his office. The high-stakes visit comes five months into the ongoing U.S.-Israeli conflict with Iran, a development closely monitored by global markets.
President Donald Trump has stated that a U.S. civil nuclear deal with Saudi Arabia will not proceed unless the kingdom normalizes relations with Israel by joining the Abraham Accords, adding a significant new diplomatic condition to the agreement.
Barclays analysts said on Friday that a prolonged impasse at the Strait of Hormuz could add up to $10 per barrel to their 2026 Brent crude forecast, with spot prices potentially testing $150 in an extended disruption scenario.
Protesters in Kyiv have launched an open-ended rally demanding President Volodymyr Zelenskiy reappoint former Defence Minister Mykhailo Fedorov, whose dismissal in a government reshuffle has triggered a political crisis.
The number of active U.S. oil and gas drilling rigs fell for the first time in six weeks, according to Baker Hughes data. The decline was driven by a drop in oil-focused rigs, though the total count remains higher than a year ago.
Preliminary loading schedules indicate Nigeria will export approximately 952,000 barrels per day of its key crude grades in September, a significant 25% increase from August's planned shipments.
