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.

Oil stays near highs, gold trading sideways

Oil remains bullish near highs Oil prices are easing again today after moving back towards seven-year highs in recent weeks. It was given an additional bump yesterday following the release of the EIA data which showed a larger draw than expected.

Jan 13, 2022 by Craig Erlam

Oil higher post CPI & EIA report, gold steady

Oil extends rally on EIA drawdown Crude prices extended gains after oil inventories fell to the lowest levels since October 2018. The EIA crude oil inventory posted a larger-than-expected headline decline of 4.55 million barrels versus an expected 1.6 million draw. Both gasoline and distillate inventories rose as consumption decreased. Gasoline demand was weaker-than-expected and still below pre-pandemic levels and if this becomes a trend oil won't be able to continue to push higher.

Jan 12, 2022 by Edward Moya

Oil rally continues, gold choppy

Fundamentals remain bullish for crude Oil prices are trading back around their highest levels since late October after another surge on Tuesday. The rally continues as OPEC continues to miss output targets and Libya reportedly struggles to ramp up production again.

Jan 12, 2022 by Craig Erlam

Oil and gold rally after Powell remarks

Oil prices leap higher after Powell testimony Oil prices rocketed higher overnight as the Powell testimony removed the threat of early rate hikes, for now, allowing the fundamentals of constrained OPEC+ production, and an omi-gone variant recovery, to reassert themselves with a vengeance. Brent crude rocketed 3.25% higher to USD 83.60 a barrel, while WTI leapt 3.65% higher to USD 81.25 a barrel.

Jan 12, 2022 by Jeffrey Halley

Commodities and Cryptos: Oil rallies Gold Shines, Bitcoin higher

Oil Crude prices rallied alongside risky assets after Fed Chair Powell signaled a lengthy debate over the balance sheet runoff. A long road to normal means the economy will still see a lot of support over the first half of the year and that is good news for crude prices. Oil prices seem poised to trade between $80 and $100 a barrel as the global demand outlook still looks upbeat as most major economies are getting closer to the other side of the omicron fence. NY Gov Hochul said, COVID rates

Jan 11, 2022 by Edward Moya

Oil rebounds, gold holds above 1800

Oil eyes Autumn highs Oil prices are rebounding higher again on Tuesday, up more than 1%, and with sights seemingly set on the late autumn highs. We saw some heat come out of the market over the last couple of days but pullbacks were always likely to be limited given the broader dynamics. Of course, omicron offers some demand uncertainty over the coming months but the market is tight as OPEC+ slowly turns the taps back on.

Jan 11, 2022 by Craig Erlam

Oil consolidates, gold rallies

Oil consolidates Oil prices eased slightly overnight in corrective price action consistent with a consolidation of oil’s recent impressive price gains. Brent crude fell by 1.0% to USD 81.00, rising to USD 81.30 a barrel in Asia.

Jan 11, 2022 by Jeffrey Halley

Commodities and Cryptos: Oil softer as supply returns, Gold steady

Oil Crude prices are lower after Libya’s largest oil field resumed production, Kazakhstan’s TCO oilfields are back to normal levels, and as China's zero-COVID tolerance will lead to new restrictions. The oil market will likely remain very tight as the world learns to live with COVID. Travel bans will continue to be lifted as the focus will go to testing and that should do wonders for international travel once test makers have a better handle of the situation. Considering how much oil prices

Jan 10, 2022 by Edward Moya

Oil prices ease, gold trading sideways

Oil eases near highs Oil prices are easing again on Monday after the rally lost steam around the October highs late last week. Supply issues in Kazakhstan and Libya contributed to the latter stage of the rally, with the bulk since late December coming from more promising omicron data that indicates the economic impact of the new variant will be more subdued than feared. While prices may be pulling back, aided perhaps by the broader shift in risk appetite in the markets, the fundamentals remain

Jan 10, 2022 by Craig Erlam

Oil and gold directionless

Oil ignores US jobs data Oil prices were almost unchanged on Friday, with Brent crude and WTI maintaining their gains even as headline US jobs data came in soft. Brent crude edged 0.20% lower to USD 81.80, and WTI fell 1.0% to USD 78.85 a barrel.

Jan 10, 2022 by Jeffrey Halley

Market Insights Podcast (Episode 279)

Jonny Hart looks back on the week's business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they discuss the mixed nonfarm payroll report, FOMC rate and balance sheet expectations, what was behind the moves with oil's strong price rally, and the poor first week of trade for cryptos. They also discuss what the week ahead has in store for financial markets.

Jan 07, 2022 by Edward Moya

Week Ahead - Earnings season is upon us

It's been quite the start to the year, with omicron fears subsiding only to be replaced by interest rate anxiety once more. This could be the theme for the coming months, as policymakers are forced to take inflationary pressures more seriously in the hope that a little now will prevent the need for a lot more later.

Jan 07, 2022 by Craig Erlam

Commodities and Cryptos: Oil pares weekly gain, Gold’s bad week could have been worse, Tough week for cryptos

Oil After a robust trading week, oil prices had a choppy Friday session after reports that Kazakhstan did not have to halt any oil and gas production and following the latest employment report that still paved the way for a March Fed rate hike. While optimism is high that the omicron variant impact on the crude demand outlook will be short-lived, it is too early to be optimistic that the worst of this wave is over. The US CDC Director noted that the US hasn't seen the peak of this covid wave

Jan 07, 2022 by Edward Moya

Oil rally, bullish gold case weak, bitcoin lower

Oil at two month high as OPEC struggles to hit quotas Oil prices are continuing to climb at the end of the week as unrest in Kazakhstan and lower output from Libya further hamper producers' ability to gradually return to pre-pandemic levels. We are already seeing OPEC+ struggle to deliver the agreed 400,000 barrel per day increase and this is further exacerbating the problem. And it's happening at a time when demand is expected to remain strong thanks to omicron symptoms being mild by comparison

Jan 07, 2022 by Craig Erlam

Oil rises on supply disruptions, gold slides

Oil rallies impressively As mentioned yesterday, oil’s price action is bullish, as it shrugged off a series of seemingly bearish news inputs over the last 48 hours. That news swung the other way overnight, with domestic protests disrupting local production, and with the arrival of Russian paratroopers to restore order.

Jan 07, 2022 by Jeffrey Halley

Commodities and Cryptos: Oil market getting tighter, Gold battered as yields rally, Bitcoin in danger

Oil A tight oil market just got hit with supply disruptions and geopolitical risks, which means oil prices are headed higher. Oil prices were boosted after growing unrest in Kazakhstan posed a risk to their 1.6 million barrels per day of production. Insurgents were responsible at the beginning of the year for sending Libyan production to the lowest levels in more than a year. Energy traders are growing very confident this market will remain very tight and now that omicron worries have eased o

Jan 06, 2022 by Edward Moya

Oil pushes higher, gold slides after FOMC

Oil shakes off sentiment hit Oil is continuing to push higher as traders price in a modest economic impact from omicron. The OPEC+ meeting this week supported the view and the price of oil is now not far from its October peak, with WTI closing in on USD 80 for the first time in almost two months. The knock to broader market sentiment from the Fed minutes is not reverberating around the crude market, with prices up more than 2% on the day and backed by momentum. Gold hit hard by Fed minutes G

Jan 06, 2022 by Craig Erlam

Oil and gold trading sideways

Oil is bid despite its fall today Oil prices were almost unchanged overnight, despite a massive 10 million barrel increase in US Gasoline Inventories, distillates rising by 4.4 million barrels and Crude Inventories falling only 2.5 million barrels, with Cushing Stocks climbing by about the same. That should all have been bad news for oil prices, implying that omicron is weighing on mobility and consumption.

Jan 06, 2022 by Jeffrey Halley

Oil pares gains after EIA, gold rises

Oil Crude prices tentatively pared gains after the EIA crude oil inventory report posted a smaller-than-expected headline draw, while gasoline demand plummeted the most since April 2020. The EIA report was a mixed bag that didn’t have anything to change the tight outlook for the oil market. A headline draw of 2.14 million barrels last week was the sixth consecutive decline, but the focus was on big builds with gasoline and distillate inventories, which were largely due to seasonal factors. Bo

Jan 05, 2022 by Edward Moya

Oil running on empty gold eyes FOMC

Oil running on fumes The oil price recovery may be starting to run on fumes after OPEC+ confirmed what markets had been pricing in over the last couple of weeks; that omicron won't have an overly detrimental impact on crude demand. In continuing its 400,000 barrels per day, monthly increases, the group offered further comfort to investors that the economic impact is likely to be minor and short-lived. The question now is whether the group can meet quotas which have reportedly been a challenge

Jan 05, 2022 by Craig Erlam

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