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The latest commodities coverage from the TrustFinance editorial desk.
Despite a five-month conflict between the U.S. and Iran, crude oil prices have remained well below feared highs of $150-$200 per barrel, restrained by a combination of record U.S. production, faltering Chinese demand, and shifting trade routes.
Asian oil refiners are diverting Saudi crude shipments through the Suez Canal to bypass Houthi threats in the Red Sea, a move that significantly increases voyage times and costs for a key energy supply route.
Rome plans to use a European Union budget flexibility rule in 2027 and 2028 to fund energy support, a move that suggests it will abandon efforts to keep its budget deficit below the bloc's 3% ceiling.
Canadian Prime Minister Mark Carney announced that he and U.S. President Donald Trump have agreed to step up trade talks, a day after Washington threatened new tariffs against Canada.
Strategists at UBS advise investors to use price pullbacks in gold as buying opportunities, citing a supportive long-term outlook that outweighs current challenges from hawkish monetary policy.
U.S. Treasury Secretary Scott Bessent defended the new 50% tariffs on nearly $20 billion of Canadian goods, telling Fox Business the move was 'reciprocity' for Ottawa's 'discriminatory' trade policies on U.S. dairy and other products.
The investment bank has significantly increased its near-term price targets for Dutch TTF gas, citing a slower-than-expected recovery in LNG exports from the Persian Gulf due to ongoing shipping tensions.
Crude oil shipments from Saudi Arabia fell for the third consecutive month to 3.434 million barrels per day in May, a record low since 2002, according to official data from the Joint Organizations Data Initiative (JODI).
U.S. Treasury Secretary Scott Bessent said China has cut its purchases of Iranian crude by 40% following U.S. sanctions on its 'teapot' refineries. The reduction is significantly cutting into Iran's oil revenues, according to the official.
