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The latest commodities coverage from the TrustFinance editorial desk.
China's full implementation of export restrictions on rare earth minerals could disrupt $6.5 trillion in downstream production, the International Energy Agency said, highlighting vulnerabilities in critical supply chains for the automotive, tech, and defense sectors.
Russia's defense ministry announced it targeted military-industrial facilities in Kyiv and key port infrastructure in Odesa and Pivdennyi. The strikes come amid an escalating series of attacks by both Moscow and Kyiv on critical economic targets.
The U.S. military has concluded its latest series of airstrikes against Iran, targeting strategic military sites including the crucial port city of Bandar Abbas, further escalating geopolitical tensions in the Strait of Hormuz.
Gold prices fell as rising crude oil, fueled by Middle East tensions, overshadowed soft U.S. inflation data. The rally in energy costs has renewed investor concerns about the Federal Reserve's path for interest rates.
Crude benchmarks climbed for a fourth consecutive session after the U.S. launched fresh strikes against Iran, heightening concerns over potential supply disruptions through the critical Strait of Hormuz.
Brent crude topped $85 and WTI surpassed $80 as new U.S. strikes on Iranian military sites fueled concerns over potential disruptions to key energy chokepoints like the Strait of Hormuz.
Some shipping companies are reportedly avoiding a U.S. military-guided transit system in the Strait of Hormuz, a critical energy chokepoint, following a series of attacks on commercial vessels attributed to Iran.
Wheat prices jumped to their highest levels since May after military actions between Russia and Ukraine disrupted shipping in the Sea of Azov, a key route for Russian grain exports.
U.S. commercial crude oil and gasoline stockpiles fell last week, according to the Energy Information Administration, as refineries boosted processing rates to meet peak summer driving demand.
