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Commodities: All News & Analysis

Explore our extensive commodities news, which unveils critical insights into price movements, trends, and expert forecasts in the raw materials market. By examining price actions and understanding the factors influencing commodity values, understand current market dynamics. This page is designed to boost your research on historical trends, identify seasonal patterns, and sharpen your trading strategies across sectors such as energy, metals, and agriculture. Equip yourself with the knowledge necessary to enhance your understanding of the commodities landscape and elevate your trading decisions.

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Brent Crude - Oil volatile near lows after OPEC+ "deal"
OPEC+ unofficially agree to 2.2 million barrel per day cut Full compliance with cuts already looks unlikely Brent continues to consolidate near recent lows Oil prices remain quite volatile but more importantly, not too far from their recent lows after traders judged yesterday's announcement from OPEC+ with some skepticism.
Dec 01, 2023 by Craig Erlam
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WTI Oil Technical: Positive elements intact ex-post OPEC+
Earlier rally in WTI crude oil fizzled out ex-post OPEC+ meeting due to uncertainty over 2024 oil supply cut commitments from members. The strongest commitment came from Saudi Arabia where it will extend its its voluntary 1 million barrels per day supply through Q1 2024 while Angola has decided to go against its newly reduced supply target. Technical analysis suggests several positive elements in WTI crude oil despite the uncertainty over the demand and supply dynamics of the oil market. Watch t
Dec 01, 2023 by Kelvin Wong
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Podcast - Inflation watch in US, Eurozone and AU. Volatile oil prices ahead of OPEC+
OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data releases that centered on inflation with the Fed-preferred PCE gauge for October out on this Thursday, 30 November together with Eurozone flash CPI for November. On Wednesday, 29 November, Australia will release its monthly CPI indicator for October, where market participants are likely to keep a close watch as new RBA Governor Bullock has a more hawkish vibe than her predecessor, her recent speech
Nov 27, 2023 by Kelvin Wong
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Brent Crude - Oil price choppy ahead of Thursday's OPEC+ meeting
OPEC+ decision made bigger by four-day delay Global economic outlook to impact the group's cuts? Brent consolidating near recent lows The OPEC+ meeting will be this week's most impactful event in oil markets. Not just because any decision could have direct consequences for price and therefore inflation but also due to the meeting already being pushed back by four days, so there's clearly some disagreement within the alliance.
Nov 27, 2023 by Craig Erlam
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EUR/USD slips on ECB warning, PMIs next
ECB financial stability review warns of stress Fed minutes point to rates remaining restrictive The euro is in negative territory on Wednesday. In the North American session, EUR/USD is trading at 1.0864, down 0.42%. ECB says banks showing stress The ECB released its semi-annual financial stability review earlier today and warned of stress in financial stability in the eurozone.
Nov 22, 2023 by Kenneth Fisher
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WTI Oil Technical: Recent plunge seems to have found a floor ahead of OPEC+
The 7-week decline of -23% in WTI crude oil has started to stabilize in the last two days. The recent rebound of +8% from last Friday, 17 November low has been driven by anticipation of an extension of oil supply cuts into 2024 by OPEC+. Watch the US$75.60 key short-term support in WTI crude oil. In the past four weeks, oil prices have been hammered to the downside due to waning external global demand as the past year of tight monetary policies enacted by developed nations’ central banks (excep
Nov 22, 2023 by Kelvin Wong
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Gold Technical: Potential multi-week bullish movement kickstarts
Spot Gold (XAU/USD) minor corrective pull-back of -3.8% from the 27 October 2023 high to 13 November 2023 low may have ended. Potential start of another multi-week bullish up move for Spot Gold (XAU/USD). A further slide in the 10-year US Treasury real yield supports a bullish narrative for Gold. Watch the key short-term support at US$1,972. This is a follow-up analysis of our prior report, “Gold Technical: At the risk of further corrective decline before potential recovery” published on 9 Nove
Nov 21, 2023 by Kelvin Wong
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WTI Crude - Will oil prices encourage Russia and Saudi Arabia to extend cuts?
Growth concerns weigh on demand expectations OPEC+ meeting later this month eyed for further cuts WTI hits lowest level since July Oil prices have been trending lower again in recent days after rebounding on Tuesday, around the October lows in the case of WTI. There are clearly concerns around demand going into next year, particularly around China, which OPEC this week sought to relieve, to no avail.
Nov 16, 2023 by Craig Erlam
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Gold Technical: At the risk of further corrective decline before potential recovery
Gold’s stagflation hedge purpose has been negated after a rotation back into long-duration risk assets/equities. Watch the US$1,972 key short-term resistance on spot Gold (XAU/USD) to maintain on-going corrective decline structure. Medium-term uptrend remains intact as long as US$1,903 support holds. In the past two weeks, the price actions of Spot Gold (XAU/USD) have started to lose some of their glitter as a safe haven play due to the “status quo” situation in the ongoing Israel-Hamas conflic
Nov 09, 2023 by Kelvin Wong
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USD/CAD: Surges to highest levels since October 2022; Commodity prices remain volatile on geopolitical headlines
Loonie lower as oil prices pare earlier gains Overnight Index Swaps eye BOC's next move as a rate cut in H2 2024 Fed funds futures see a 31% chance of a rate by the January 31st FOMC meeting The US dollar is rallying against the Canadian dollar as the odds of one more rate hike seem more likely with the Fed than with the BOC.  After the BOC's October 25th meeting, traders appear convinced that the bank is done raising rates. Today's impressive US  economic data showed core PCE came in a little
Oct 27, 2023 by Edward Moya
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Brent Crude - Oil remains volatile amid economic uncertainty
Economic fears mounting Concerns of wider conflict in Middle East abating Brent may have entered consolidation It's been a volatile week in the oil market, with prices today down around 2% after rebounding a similar amount a day earlier. The economy remains a downside factor for oil prices, with traders clearly concerned about growth prospects amid high interest rates.
Oct 26, 2023 by Craig Erlam
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