Section
The latest commodities coverage from the TrustFinance editorial desk.
UBS has adjusted its recommended price range for buying silver on dips to $48-$50 per ounce, down from $55, citing lackluster investment demand and persistent macroeconomic pressures. The bank maintains a bullish long-term forecast despite near-term headwinds.
Saudi Arabia's crude oil exports saw a significant month-on-month decline in May, falling by over half a million barrels per day even as the kingdom's total production increased, according to official data.
The International Energy Agency is monitoring oil markets due to rising Middle East tensions but noted that substantial supplies from key Gulf producers are currently providing a buffer against potential disruptions.
Former President Donald Trump has announced plans to impose 50% tariffs on approximately $20 billion of Canadian goods, reigniting regional trade tensions. The move targets about 5% of Canada's exports to the U.S.
Wholesale natural gas prices in Europe are holding near multi-month highs as new threats to shipping in the Middle East, including a Houthi blockade, stoke fears of disruptions to critical LNG supply routes.
Lebanese troops have entered the southern town of Zawtar al-Gharbiyeh following an Israeli withdrawal, marking the first implementation of a U.S.-brokered plan aimed at de-escalation and restoring Lebanese sovereignty.
Global market sentiment is being dictated by geopolitical developments, as hopes for a ceasefire involving Iran cause oil to retreat from a one-month high, providing a temporary lift to equities.
U.S. Central Command confirmed it completed its tenth straight night of attacks on Iranian military targets, including command centers and missile sites. The ongoing conflict continues to pressure global oil prices and financial markets.
Oil benchmarks dipped from one-month highs as reports of diplomatic efforts between the U.S. and Iran overshadowed fresh military strikes and new threats to Saudi Arabian shipping.
