Section
The latest commodities coverage from the TrustFinance editorial desk.
U.S. strategic crude oil inventories fell to 311.4 million barrels, a level not seen since March 1983, following the latest weekly release, according to Department of Energy data.
European wheat futures closed unchanged as traders weighed easing geopolitical risks in the Black Sea against a new forecast showing a significant 7.6% decline in France's wheat crop due to adverse weather.
The volume of ship-to-ship oil transfers in the Gulf of Oman, a key logistical workaround for bypassing the Strait of Hormuz, has fallen significantly following recent attacks on vessels by Iranian forces, according to satellite data.
Hamas has named Khalil Al-Hayya as its new overall leader, a move analysts say signals the group's commitment to armed struggle and could create new obstacles for ceasefire negotiations.
Ship-to-ship oil transfers in the Gulf of Oman have slowed significantly following a series of attacks on vessels by Iranian forces, according to satellite data and maritime sources. The decline raises concerns about the stability of a key method for exporting Gulf crude amid regional tensions.
Wheat futures reached their highest level in two years as escalating military attacks on ships and ports in the Black Sea region stoked fears of major supply disruptions.
The main sea freight index for dry bulk commodities fell 2.9% on Monday, pressured by a sharp drop in rates for larger capesize vessels amid signs of weakening demand for iron ore in China.
India's government has announced it will not increase the ethanol content in gasoline beyond the current 20% level, a decision that follows complaints from motorists about fuel efficiency since the nationwide E20 rollout.
Yemen's Houthi group announced a maritime blockade on Saudi Arabia, a move that threatens to close the vital Bab el-Mandeb strait and severely disrupt global energy supplies already strained by Iran's actions in the Strait of Hormuz.
