Section
The latest commodities coverage from the TrustFinance editorial desk.
A World Gold Council analyst states that gold's recent rally to multi-month highs was primarily fueled by a sharp increase in investment inflows, with the U.S. Treasury's bond buyback announcement acting as an accelerant rather than the root cause.
Brent and WTI crude futures advanced for a fourth straight day, reaching their highest levels in six weeks amid U.S. strikes in Iran and renewed Israeli threats, heightening concerns over oil transit through the Strait of Hormuz.
The main sea freight index for dry bulk commodities jumped 4.7% to its highest level since October 2021, propelled by a significant rally in rates for larger capesize vessels amid strong demand for iron ore.
The investment bank raised its long-term uranium forecast by over 35% to $95 per pound, citing soaring production costs and the need for higher prices to incentivize new supply.
The investment bank raised its H2 Brent crude forecast by $10 to $90 per barrel, citing Mideast tensions and Russian supply cuts, while also noting the new target could prove too low.
Global markets found a calmer footing as oil prices steadied and U.S. Treasury yields retreated from multi-year highs. Investor attention is now shifting to key U.S. labor market reports for fresh economic signals.
Russia plans to deliver 50 billion cubic meters of natural gas to China by 2026 through existing and planned routes, according to Deputy Prime Minister Alexander Novak, as discussions continue for a second major pipeline.
The World Meteorological Organization reports the current El Niño is intensifying and could become the most powerful ever recorded, posing significant risks of extreme weather and market disruption into next year.
European and UK wholesale natural gas prices fell for a second day as traders booked profits following a recent surge. However, underlying supply risks remain elevated due to severe disruptions to LNG transit in the Strait of Hormuz.
