Section
Commodities
Oil drops as Trump delays Iran strike, easing Hormuz fears
Crude fell after Donald Trump said he had postponed a planned strike on Iran, easing immediate fears of a supply shock through the Strait of Hormuz.
Motor-oil shortage fears show how the Iran shock is spreading beyond crude
Synthetic motor oil prices surge as Iran war severs 44% of US Group III base oil imports. Toyota and Nissan are now rationing supplies to dealerships, with normal supply not expected until mid-2027.
Equinor's Hormuz warning shows where its priorities now sit
Equinor oil outlook 2026 now hinges on how long Hormuz stays shut, with gas risk, tighter cash discipline and a slower transition shaping strategy.
Capital Economics' $150 oil case turns Hormuz risk into a macro test
Capital Economics' extreme oil scenario is less a commodity call than a map of how Hormuz risk could spread into inflation, yields and the wider equity market.
Trump ends Russian oil waiver as Hormuz risk tightens crude market
Washington let a one-month waiver on some Russian seaborne crude purchases lapse just as Strait of Hormuz disruptions made marginal barrels more valuable.
Silver import curbs: India tightens rules after $12B bill
Silver imports: India curbed most shipments after a record $12B fiscal-year bill, widening its rupee-support push with trade controls on precious metals.
China and US use supply channels to contain Middle East oil shock
China's 3.6 million bpd import cut and a 3.5 million bpd U.S. export surge blunted the Gulf shock, easing pressure on oil, inflation and yields.
UAE casts OPEC exit as output strategy with Brent at $109.26
The UAE said its OPEC exit reflects production policy and capacity plans, a signal oil markets are reading through supply discipline and future market share.
Goldman's gold call rests on central-bank buying, not the bounce
Central bank gold buying looks stronger than Goldman thought, with China's steady reserve accumulation helping argue bullion has a firmer floor into 2026.
Russian oil waiver expiry adds fresh supply risk to crude
Warren and Shaheen want Treasury to let a Russian oil sanctions waiver expire, setting up a test of how far Washington will push enforcement when crude supply and inflation risk remain sensitive.
Strait of Hormuz oil disruption: Stockpile squeeze deepens
Strait of Hormuz oil disruption: UBS, JPMorgan and the IEA warn stockpiles could hit record lows if the closure persists, shifting risk from prices to scarcity.
Currie cools on gold but keeps broader commodity bull case
Jeff Currie sees near-term downside for gold from higher yields and a firmer dollar even as supply risk keeps his broader commodity bull case intact.
Iran war oil shock separates exporter winners from importer losers
The crude spike tied to the Iran conflict is becoming a fiscal sorting mechanism. Export routes, sanctions and import dependence are deciding who actually pockets the windfall.
Gold and silver slide as oil jumps on Hormuz fears
Gold and silver fell while crude pushed higher and Treasury yields rose, as traders treated the Hormuz shock as an inflation problem across commodities.
Oil Edges Higher as Trump-Xi Summit Holds Hormuz Key
Brent crude settled at $105.76 a barrel as the Trump-Xi summit in Beijing kept the Strait of Hormuz in focus, with the IEA warning supply losses from the Iran war have passed 1 billion barrels.
Gold Falls From Three-Week High as Fading Middle East Peace Hopes Lift Dollar
Spot gold slipped 0.8% to $4,698.22 an ounce on Monday, retreating from a three-week high, as deteriorating U.S.-Iran peace talks boosted the dollar and oil prices, undercutting the metal's safe-haven bid.
Copper to average $10,500 per tonne on LME in 2026 as mine disruptions fuel deficit
Reuters poll forecasts $10,500/tonne average in 2026, up 7.2% from July forecast, as mine disruptions create 150,000-tonne deficit
Gold was supposed to rally on war. It fell 12 percent instead.
Since Iran's military escalation began in March 2026, gold has fallen 12% — defying every historical crisis playbook. The mechanism that broke the trade isn't a mystery, but it rewrites the outlook for the world's oldest safe haven.
PDBC Commodity ETF Surges 50% on Crude's Run to 98th Percentile
The Invesco PDBC commodity ETF has returned 50% over twelve months as crude oil climbed to the 98th percentile of its historical range. The rally, concentrated in energy futures, raises the question of whether the gains can hold.
US SPR loan: 53M barrels ease Iran oil shock
The Trump administration loans 53.3 million barrels from the Strategic Petroleum Reserve as Iran conflict pushes oil toward $115.
Gold's 12% Iran sell-off is a rates story, not a haven failure
Gold has fallen 12 per cent since the Iran conflict began, defying the safe-haven script. ING's Ewa Manthey says the sell-off is a macro story — real yields and a strong dollar — not a structural failure. J.P. Morgan and the ECB see central bank demand keeping the bull case intact.
Gundlach urges 20% cash, 20% commodities as 2026 Fed cuts fade
DoubleLine Capital chief investment officer Jeffrey Gundlach told Bloomberg the Fed will not cut rates in 2026 and that investors should hold 20 per cent in cash and 20 per cent in commodities. He would buy gold below $3,500 an ounce.
Oil pushes higher, gold erases gains after US and Iran trade weekend threats
Oil prices pushed higher and gold surrendered its recent gains after Washington and Tehran traded threats over the weekend, the latest blow to a seven-week-old ceasefire that had briefly raised expectations the Strait of Hormuz would reopen.
Kinross (KGC) Q1 free cash flow tops $840m on doubled gold-price margins
Kinross Gold delivered $837.5 million of attributable free cash flow in Q1 as a $4,873 average realised gold price drove margins per ounce up 92 per cent. Shares jumped about 7 per cent in premarket trading on April 30.
Gold pushes toward $4,800 as oil slide and lower yields fuel rally
Spot gold traded near $4,750 per ounce late Friday, within striking distance of the $4,800 mark, as a sharp selloff in crude oil eased inflation expectations and pulled US Treasury yields lower. The move tees up a test of the 50-day moving average at $4,780.
