commodities127.51 min read
Oil slides as US–Iran talks resume and tariffs cloud demand
4 days ago•Source: Investing.com
Commodities News
The latest commodities stories, summarized by AI
Featured Commodities Stories
View original source
128.675 min•7 days ago
Oil eyes first weekly gain in three as US-Iran tensions mount
Oil prices held near six-month highs and were on track for their first weekly gain in three weeks as investors weighed a potential binary outcome in U.S.-Iran talks and Iran’s joint naval drills with Russia that could threaten the Strait of Hormuz. Brent crude was around $71.41 a barrel and U.S. WTI about $66.13, with weekly gains near 5%, while markets also priced in a 10–15 day Trump deadline over Iran’s nuclear programme. A drop in U.S. crude inventories reported by the EIA supported prices, though gains were capped by expectations for higher OPEC+ output and by persistent U.S. rate uncertainty.
More Top Stories
2
Silver collapses from rebound as dollar strengthens and markets reassess
Investing.com•22 days ago
3
Gold climbs past $5,000/oz as Iran tensions stoke haven bids
Investing.com•23 days ago
More Commodities Stories
Oil sinks 4% as Iran de-escalation signals ease supply fears
Oil prices fell by about $3 a barrel after signs of de-escalation with Iran and a stronger U.S. dollar, with Brent at around $66.30 and WTI near $62.14 as milder U.S. weather also weighed on forecasts. Iran and the United States plan to resume nuclear talks, and OPEC+ kept output unchanged for March, reflecting expectations of a 2026 global inventory build. Analysts say the easing tensions could cap upside for oil in the near term, while still keeping prices sensitive to dollar moves and regional supply dynamics.
Gold hits fresh record as Greenland tariffs boost safe-haven demand
Gold surged to a fresh all-time high near $4,700/oz as Trump threatened tariffs on several European nations over his Greenland bid, boosting demand for safe-haven assets. Spot gold traded around $4,673.30/oz and U.S. futures near $4,677.81/oz, with silver also rising above $94/oz and copper gaining on resilient China data and bets on rate cuts.
Oil slips as Trump signals de-escalation in Iran crisis
Oil prices declined after President Trump signaled de-escalation in Iran, easing geopolitical risk and trimming the risk premium that had supported crude; WTI hovered around $60 per barrel, down about 1.3% on the day, as traders weighed potential further actions and the evolving Iran situation.
Oil gains on Iran-related supply disruption fears amid threats
Oil rose for a fifth straight session on fears of Iranian supply disruptions amid U.S.-Iran tensions, with Brent around $66.40 a barrel and WTI near $62. Tehran warned it could strike U.S. bases if Washington attacked, while U.S. stock builds and resumed Venezuelan exports capped some gains.
Gold and Oil React to Geopolitical Tensions and U.S. Actions
Oil prices experienced volatility due to geopolitical tensions in Venezuela, while gold and silver prices rose as safe havens amid macroeconomic uncertainty. Copper hit a record high driven by supply concerns and tariff uncertainties. Meanwhile, agricultural commodities like coffee and cocoa saw mixed movements influenced by export surges and weather conditions.
Copper Prices Set to Skyrocket Amid Surging Demand, Says Top Trader
Hedge fund manager Pierre Andurand predicts that copper prices could nearly quadruple to $40,000 per metric ton in the next few years due to surging demand from the global energy transition, including electric vehicles and renewable energy projects. Despite a recent dip in U.S. copper futures, Andurand remains bullish on copper and other commodities like aluminum, while expecting oil prices to remain stable. Macquarie analysts caution that the current copper price rally may be overdone, with a high risk of a sharp correction.
"Copper Price Surge: Supply Concerns Drive Bullish Predictions to Record High"
Copper prices are nearing a 15-month high due to supply fears and increased demand, particularly from China where manufacturing is picking up. The metal's role in the energy transition is also driving bullish calls, with analysts predicting potential explosive price upside in the next three years. Mine disruptions and a lack of new projects are compounding concerns about supply, leading to expectations of copper averaging $12,000 a ton by 2026.
"Cocoa Prices Surge to $10,000, Easter Treats to Get Pricier"
Cocoa futures have surpassed $10,000 per metric ton due to poor crops in key West African growers, leading to concerns about a third consecutive annual supply deficit. The rally is also driven by financial market pressures and fears of sourcing enough beans. The surge in cocoa prices is expected to result in pricier chocolate, impacting chocolate manufacturers' profits and potentially leading to smaller or less chocolate-filled products for consumers. The upcoming mid-crop harvest in West Africa is anticipated to shrink, exacerbating the tight supply situation, while efforts to ramp up production in other regions may take years to alleviate the strain on global supplies.
Natural Gas Prices Set to Rise Despite Negative Sentiment
Natural gas is showing bullish momentum, with a potential breakout above the five-day high of 2.49 indicating further strength. A bullish doji hammer candlestick pattern suggests a possible rally towards the 20-Day MA at 2.68 and the 38.2% Fibonacci retracement at 2.77. However, a key resistance zone at 2.88 may pose a challenge. There is also a risk of a test of recent lows before a rally. The breakdown of a bearish flag in November suggests the potential for new lows, but patterns can be unpredictable.
Commodities Brace for Busy Week as Gold Prices Slip and Draw Interest
The weekly forecast for gold is bearish as prices continue to decline after a volatile week, with potential support levels at $1985, $1960, and $1951. Silver's price action also shows a consistent move lower, with support levels at the 50 SMA and the 38.2% Fibonacci level. Oil prices are bullish as OPEC+ extends supply cuts and US demand numbers reach an all-time high, offering optimism for a partial recovery. Resistance levels for oil are at $72.50 and $77.40, with support at $67.