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The latest commodities coverage from the TrustFinance editorial desk.
The investment bank raised its H2 2026 Brent crude forecast by $10 to $90 per barrel, citing tighter supply from the Middle East and Russia, and took the unusual step of warning its new target may be an underestimate.
European and UK natural gas prices fell for a second day as traders booked profits after a rally driven by Middle East tensions. Underlying supply risks from shipping disruptions in the Strait of Hormuz continue to support the market.
The investment bank increased its long-term uranium price target to $95 per pound from $70, citing significant cost inflation and the need for higher prices to incentivize new mine development.
Russia plans to increase natural gas supplies to China to 50 billion cubic meters by 2026 via existing and new routes, according to Deputy Prime Minister Alexander Novak. Negotiations are also underway for a second major pipeline, now called 'Baikal Power'.
A World Gold Council analyst attributes gold's recent price surge to a significant increase in investment demand, particularly through ETFs, rather than the U.S. Treasury's bond buyback program.
The Baltic Dry Index, a global benchmark for shipping costs of raw materials, jumped 4.7% on Thursday to its highest point since October 2021, propelled by a significant rally in rates for larger Capesize vessels.
Citigroup has increased its price forecast for Brent crude in the third quarter of 2026, citing expectations of a longer-than-anticipated blockage of the key Strait of Hormuz waterway. The bank also adjusted its outlook for U.S. and European natural gas.
Gasoline refining margins in Northwest Europe have climbed to $61.86 per barrel, nearing record levels from the 2022 energy crisis, as tight regional supply continues to pressure the market.
Wheat futures fell from multi-year highs after Russian President Vladimir Putin suggested a peace agreement with Ukraine could be possible, prompting profit-taking by traders concerned about Black Sea supply disruptions.
