Commodities

US tariffs trigger layoffs in Canadian steel and aluminium sector

Hundreds of Canadian workers have lost their jobs in recent weeks following new US tariffs targeting steel and aluminium imports. The policy, introduced by President Donald Trump on March 12, has led to a swift response across the Canadian manufactur...

Grain deal revival? Russia sets conditions for Black Sea agreement

The Kremlin said on Wednesday that the reinstatement of the Black Sea grain deal, brokered by the United Nations and Turkey, is contingent upon the fulfillment of several conditions.  This statement alludes to a previous agreement where Russia&#...

Analysis: how sanctions on Venezuelan oil could disrupt global supply and impact crude prices

It seems as if the oil market can’t catch a break from tariffs and increasing uncertainty about global supply.  The recent announcement by the US President Donald Trump to impose 25% tariffs on countries buying oil and gas from Venezuela has alr...

Why India expects minimal impact from EU steel import quotas?

The Indian government believes robust domestic steel demand will counterbalance the impact of the European Union’s stricter steel import quotas, set to begin in April, according to a Reuters report. The European Commission announced on Tuesday...

Ruble strength and low supply squeeze Russian wheat exporters

SovEcon, a leading agricultural consultancy, has revised its projection for Russian wheat exports during the 2024-25 season.  The firm has decreased its initial forecast by 1.5 million metric tons, bringing the new expected export volume down to...

Why Commerzbank expects US tariffs to push metal prices higher

US import tariffs are expected to be positive for the metals market, according to Commerzbank AG.  Financial market sentiment improved at the start of the week due to speculation that the US tariffs planned by the Trump administration for April...

Gold’s rally extends as tariff concerns and recession fears grow: what’s next?

Gold prices climbed again on Tuesday after a slight dip in the previous session as uncertainties over Trump’s tariffs next week aided safe-haven inflows.  Fears over an US recession also supported the non-yielding gold price on Tuesday. “Gold pr...

Trump administration tightens grip on Venezuelan oil with new OFAC license and tariffs

As part of a broader update on US sanctions on Venezuela, the Office of Foreign Assets Control (OFAC) has issued General License No. 41B, allowing for the wind-down of certain transactions involving Chevron Corporation’s joint ventures in Venezuela....

Trump announces 25% tariff on countries buying Venezuelan oil and gas

In a major escalation of economic pressure, President Donald Trump announced on Monday that any country purchasing oil and gas from Venezuela would face a 25% tariff on all trade with the United States. The policy is set to take effect on April 2, as...

Gold’s rally isn’t over yet as downside risks stay low, analysts say

Gold prices are unlikely to decline significantly in the coming weeks as rising safe-haven demand continues to support the metal, analysts said. Uncertainty in stock markets across the world and elevated geopolitical tensions have continued to suppor...

Saudi Aramco acquires Peruvian fuel distributor Primax in $3.5 billion deal: what it means for the energy market

In a momentous event for the global energy business, Saudi Aramco, Saudi Arabia’s state-owned oil company, has bought Primax, a major fuel distributor in Peru, Colombia, and Ecuador. This deal, announced by the Peruvian business publication Ges...

Short Gold: bearish pullback expected as price breaks channel support, eyes $3,000 and $2,980 levels

Short XMR: Trading below the 100 DMA is drawing sellers’ attention toward the 200 DMA

Trump considers extending Chevron’s Venezuela oil license amid tensions: here’s what we know

The Trump administration is reportedly considering extending Chevron’s license to operate in Venezuela, marking a potential shift in US foreign policy toward the country’s oil industry. This comes amid rising tensions between Washington and Ven...

LME copper prices surges past $10,000/ton mark; are more gains on the horizon?

The price of copper surged past the significant milestone of $10,000 per ton on Thursday.  This price jump follows weeks of disruption in the global copper trade, triggered by US President Donald Trump’s proposal to impose tariffs on this...

Here’s why Brent crude is falling to discount against Dubai benchmark

Brent crude futures, a global benchmark for sweet crude oil, have recently fallen to a discount compared to Dubai swaps, a benchmark for Middle Eastern sour crude oil.  This marks the first instance of such a price inversion since November 2023,...

What is ANZ’s gold price forecast for the next 3-6 months?

In a research note released on Tuesday, ANZ has increased its gold price forecast to $3,100 per ounce for the zero to 3-month period and $3,200 per ounce for the 6-month period. Gold prices surged past the significant $3,000 per ounce threshold on Tu...

Fitch Ratings revises Ecopetrol’s outlook to negative: here’s why

Fitch Ratings has downgraded Ecopetrol’s outlook from stable to negative while keeping its credit rating of BB+. This surprising revision underscores the agency’s urgent need for a thorough reevaluation of Colombia’s economic topogr...

Geopolitics and supply shifts to drive oil price movement in the coming weeks

The political news situation will determine whether the price of Brent oil stays around $70 per barrel, which it has been for the last two weeks, according to Commerzbank AG. Whether the US proposal for a 30-day ceasefire in Ukraine can be developed...

Is $50 oil on the horizon? JPMorgan warns of further price drops amid supply pressure

The outlook for oil prices is becoming increasingly bearish on Wall Street, with a growing consensus that crude will trade primarily in the $60s range in the coming months. Goldman Sachs Group Inc. has joined a chorus of fellow banks in lowering thei...