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The latest commodities coverage from the TrustFinance editorial desk.
Oil prices climbed for a third straight day, driven by escalating military conflict in the Strait of Hormuz and a reported drop in U.S. crude inventories. Global benchmark Brent crude topped $96 a barrel amid growing fears of a major supply disruption.
Crude oil futures extended their rally, with Brent topping $95, after the U.S. and Iran conducted direct military strikes, escalating tensions and raising fears of supply disruptions through the Strait of Hormuz.
Tropical Storm Edouard came ashore near the Texas-Louisiana border with 60 mph winds, causing localized power outages but largely sparing the region's critical oil and gas infrastructure from significant disruption.
Dutch TTF futures surged to a five-month high on Monday following reports of a direct US military strike on Iranian missile sites, stoking fears of a major disruption to global LNG supplies through the Strait of Hormuz.
Chicago soybean futures pulled back from contract highs as traders booked profits, with pressure from weaker corn and wheat markets offsetting support from strong export sales and a rally in crude oil.
Chicago wheat futures retreated from a three-year high after Turkey announced it is negotiating a new proposal with Russia and Ukraine to secure grain shipments through the Black Sea.
Gold prices fell sharply on Tuesday, pressured by a significant run-up in U.S. Treasury yields and crude oil prices, which intensified market expectations for a more aggressive Federal Reserve.
Despite the Trump administration securing a deal for access to Venezuelan oil reserves, energy experts warn that significant investment hurdles and infrastructure decay mean US drivers should not expect near-term relief from historically high gasoline prices.
U.S. Soybean futures have entered a technically overbought condition, with the Relative Strength Index (RSI) hitting 78.12, signaling a heightened risk of a price correction after a strong upward trend.
