Commodity Roundup: Oil erases early gains, gold volatile after Israel’s strike on Iran

Crude oil prices rise more than $3/bbl in wake of Israel's strike on Iran. Gold prices head for biggest streak of weekly gains in a year. A softer dollar and a broad risk-off tone added to gold's safe-haven status. Oil prices held firm on Friday and are set for their fifth consecutive week of gains.

Signs Of Life In Global Resources

Geopolitical conflict and the specter of weakness in the Chinese economy continued to have an outsized impact on commodity prices in the first quarter. Oil demand is expected to reach an all-time record high in 2024. Global Resources Portfolio Manager Shawn Reynolds shares his quarterly insights on natural resources and commodities.

Iran oil exports hit six-year high, exposing limits in U.S.-led bid to stifle crude sales

Iran is exporting more oil than at any time in six years. U.S. Crude oil futures finished little changed Thursday. Fears of conflict in the Middle East fade as market resumes worries over global oil demand growth. Iran oil exports hit six-year high as China is the biggest buyer of its crude.

Geopolitical Conflict Threatens Yet Another Shipping Choke Point

The Strait of Hormuz is a vital artery that carries around a fifth of the world's oil. The Red Sea to the Gulf of Aden is a key route for global oil and LNG transport. Geopolitical conflict in the Middle East could disrupt global shipping routes. More than 80% of global goods trade is transported by sea. The Strait is one of three key maritime choke points facing disruption.

Global Growth Returns And The 2025 Fiscal Reckoning

Gold prices are hitting all-time highs despite outflows from U.S. Bullion ETFs. Investors should be prepared for a gold/bitcoin/bitcoin bull market in 2024-2025, says Klaus Vedfelt. Gold is signaling that government spending policy could be wildly stimulative.

What Iran's Attack Means For Commodities

Investing in politically sensitive commodities, such as oil and metals, could mitigate the potential impacts of rising geopolitical turmoil. Iran’s direct attack on Israel may carry significant implications for global commodity markets. The threat of further Iran-Israel escalation combined with sanctions on Russian metals underscores the need for diversification into geopolitically sensitive commodities.

Commodity Roundup: Natural gas rises ahead of inventory data, oil extends losses

Natural gas futures rose on Thursday ahead of weekly natural gas storage report. Oil futures fell for a fourth straight session as demand worries outweighed Middle East supply risks. Energy Information Administration reported fourth straight weekly build in U.S. Commercial crude inventories for the week ended April 12.

Middle East Escalation Boosts Oil Supply Risks

Risks to Middle East oil supply are at their highest since October last year. The oil market continues to be supported by ongoing tensions in the Middle East. Price action in the oil market has been surprising following Iran's attack on Israel. The risk of disruption to Middle Eastern supply is growing. Stricter enforcement of oil sanctions against Iran, Israel retaliating and Iran attempting to block the Strait of Hormuz are key risks to oil supply.

U.S. crude oil drops by most since January as supplies rise more than expected

U.S. Crude oil drops by most since January as supplies rise more than expected. Fourth straight weekly build in inventories and weaker economic data from China outweighed Middle East tensions. Front-month crude prices drop to their lowest in three weeks. China's economy grew by a stronger than expected 5.3% in March, but other indicators point to lackluster demand.

Crude inventory increased by 2.7M barrels for week ended April 12 - EIA

Crude inventory increased by 2.7M barrels for week ended April 12 - EIA. Commercial crude stocks for the week endedApril 12: 460M barrels. Crude inventory change: +2.7m barrels. Gasoline inventory increase by 1.2m barrels for the same week.

U.S., allies plan fresh sanctions on Iran in response to attack on Israel

U.S., allies plan fresh sanctions on Iran in response to attack on Israel. Iran launched missiles and drones over the weekend targeting Israel. The U.S. Will impose new sanctions in the coming days on Iran's missile and drone program. Iran's attack was in retaliation for an air strike on an Iranian consulate in Syria. The House of Representatives voted to impose sanctions on Chinese financial institutions.

Oil stays flat as Middle East worries offset by higher-for-longer rates outlook

Crude oil futures end little changed as Middle East worries offset by higher-for-longer rates outlook. Analysts believe Israel's response to Iran's missile attack will be limited in scope. Strong U.S. Retail sales in March reinforce expectations the Fed will not cut interest rates before September.

Weekly Market Pulse: Are Higher Interest Rates Good For The Economy?

Interest rates surged last week on the back of a hotter-than-expected inflation report. The rise in rates last week pushed the 10-year to its highest level since the peak at 5% in October of last year. Gold has been setting new highs, trading above $2400.

Oil prices could face increased uncertainty – TD Securities

TD Securities says the outlook for oil prices could face increased uncertainty as geopolitical tensions continue to escalate in the Middle East. Oil currently trades near $85.20/bbl, higher in 2024 by 19.5%. The recent upswing in April has oil trading near highs not seen since late October of 2023.

Commodity Roundup: Citi projects gold to hit $3,000/oz amid geopolitical heat

Commodities Energy Commodity Roundup: Citi projects gold to hit $3,000/oz amid geopolitical heat. Gold prices clocked another record-high settlement of $2,383/oz on Monday. Citi expects gold prices to hit a record high over the next 6–18 months.

Possible Rising Recriminations Face The Stock Market

Oil's rally takes a breather but traders await Israel's response to Iran attack

Crude oil futures fall as traders await Israel's response to Iran's weekend missile and drone attack. Investors worry the breadth of the assault may leave Israel with no choice but to retaliate. Oil prices had risen to their highest since October in anticipation of Iran's attack. The outlook for oil seems to hinge on the Israeli response to the attack, analysts say. Citi raised its short-term oil price forecast.

Tensions In The Middle East Likely To Bode Well For Oil Bulls

Surge in oil prices unlikely despite rising geopolitical risks, ANZ says

Analysts at ANZ don't expect an immediate reaction in crude oil prices despite rising geopolitical risks. The oil market has been on the edge since a suspected Israeli air strike on Iran's embassy in Syria. Oil prices fell more than 1% on Monday, but ANZ says the risk of a wider war is priced in.

Mideast Mayhem: What You Need To Know About The Impact On Oil

Iran launched a direct attack on Israel with over 300 drones and missiles on Saturday night. Iran's attack had a 99% interception rate, with only one ballistic missile hitting its target. The attack highlights the ongoing geopolitical tensions in the Middle East and raises concerns about the impact on the global economy and oil prices.