Commodities

Oil price weakness seen as short-lived despite supply concerns, say analysts

While bearish sentiment due to OPEC+ production increases and demand concerns are causing oil prices to fall, this decline is likely to be temporary. “Oil markets are feeling a strong bearish bias after OPEC+ announced the gradual return of barrels f...

Gold prices hover near $2,900: Will trade uncertainty push further gains?

Gold prices remained subdued above the $2,900 per ounce mark on Friday even as the precious metal is set to experience a weekly gain.  “The commodity, however, remains confined in a multi-day-old trading range as traders seem reluctant and opt t...

Russia maintains oil production near OPEC+ target, but challenges remain

Russia’s crude oil production in February remained nearly unchanged from January, staying just below its OPEC+ quota, Bloomberg reported on Thursday.  Last month, output averaged 8.964 million barrels per day, according to the report. ...

Oil prices rebound from three-year lows, but weak market challenges US producers

Oil prices rebounded from a three-year low on Thursday as investors resorted to lower level buying after Brent fell sharply in the previous session.  Market sentiment in the oil sector has taken a pessimistic turn, evidenced by the significant d...

Silver price forecast 2025: Will a supply deficit push prices to $39?

The price of silver, denominated in Indian Rupees (INR), has experienced a significant increase of 15% during the calendar year 2024.  This upward trend has continued into 2025, with a further 11% rise in prices year-to-date. This surge in silve...

Here’s why China has pledged to fix overproduction in steel and fuel

China, aiming to restructure its economy and meet ambitious growth targets, has pledged to address overproduction challenges in its steel and oil sectors, according to a Bloomberg report. These two industries, which are among the country’s wors...

China’s ‘measured’ response keeps US trade negotiation hopes alive, says ING

In response to the US imposing an additional 10% tariff on Chinese goods starting March 4, China has announced a series of retaliatory measures. These countermeasures include the introduction of new tariffs specifically targeting US agricultural prod...

China’s copper output surges to record highs, but smelters face rising operational pressures

China’s copper production is projected to reach unprecedented levels in the current year, continuing its upward trajectory.  However, this growth is not without challenges, as the operational pressures on copper smelters within the country...

Here’s why Iranian oil exports to China are relying on smaller tankers

The transportation of Iranian oil to China is increasingly relying on smaller, more agile tankers, as US sanctions continue to put pressure on the illicit trade, Bloomberg News reported on Tuesday. Ship-tracking data reveals that Aframax and Suezmax...

Oil prices extend decline as OPEC+ sticks to April output hike plan

Oil prices continued their slide on Tuesday after the Organization of the Petroleum Exporting Countries and allies agreed to stick to their plan of increasing oil output from April.  Prices also fell, influenced by a combination of geopolitical...

China eyes US agriculture for potential trade war escalation: report

The Global Times, the Chinese state-backed media outlet, has reported that China is considering targeting American agricultural exports as a countermeasure against new US import tariffs. This move raises the stakes in the ongoing trade war between th...

Why demand for platinum and palladium is at risk from proposed US tariffs?

The demand for precious metals like platinum and palladium is expected to decline if the proposed tariffs by President Donald Trump on US auto imports lead to a decrease in vehicle sales, according to a Reuters report. This potential decrease in dema...

Colombia’s Ecopetrol strengthens renewable push with Windpeshi wind project

Ecopetrol has filed a formal bid to acquire the Windpeshi project, held by Enel Colombia, to diversify its portfolio entering the wind energy sector and aligning with global environmental trends. According to local media La Republica, the project con...

Chevron’s Venezuela license revoked as Trump slams Maduro on elections, migration

President Donald Trump revoked a license granted to Chevron by his predecessor, Joe Biden, two years ago. Trump announced the decision in a late Wednesday post on Truth Social. The decision comes as Trump accuses Venezuelan President Nicolás Maduro o...

Brazil’s Petrobras posts $2.8B net loss in Q4, revenue down 10%

Petrobras, the Brazilian state oil corporation, reported a disappointing fourth quarter with a net loss of 17 billion reais ($2.8 billion), compared to a profit of 31 billion reais the previous year. Reuters reported that the current down cycle is pr...

Short XAU/GBP: bearish breakdown confirms selling pressure, eyes 2,246 support amid strong GBP and weak gold

Brazil’s Ambev delivers robust Q4 earnings but braces for 2025 uncertainty

Brazil’s brewing giant Ambev posted a strong increase in its fourth-quarter adjusted net profit, even as the company contended with slowing total volumes in a challenging market environment. For the October-December quarter, the company posted...

Falling profits and weak exports put pressure on Russia’s wheat industry

SovEcon, a leading agricultural consultancy, has revised its forecast for Russian wheat exports during the 2024-25 season.  The firm has decreased its initial projection by 600,000 metric tons, bringing the new export estimate down to 42.2 milli...

BP to spend $10B annually on oil and gas, scaling back renewable energy plans

BP has decided to reduce its investment in renewable energy and increase its spending on oil and gas to $10 billion annually, according to Reuters.  This strategic shift aims to increase earnings and shareholder returns. The oil major has revise...

Massive power outage hits Santiago, disrupting operations in Chile’s copper mines

Chile’s capital city, Santiago, and major copper mines in the country’s north were hit by a massive power outage on Tuesday, impacting global metal markets. Chile’s government declared a state of emergency and imposed a curfew from...