The Commodities Feed: Oil higher as supply risks persist
Energy – US-Iran negotiations continue Oil prices remain supported by uncertainty surrounding the Strait of Hormuz. While US President Donald Trump said Washington is “semi-negotiating” with Iran, suggesting a focus on economic pressure rather than military escalation, significant hurdles remain before any broader agreement is reached. Reports indicate that Iran and Oman are nearing an ...
The commodities market continued to be influenced by geopolitical tensions and supply concerns. Oil prices remained elevated due to lingering uncertainties surrounding the Strait of Hormuz, with reports suggesting Iran and Oman may soon reach an agreement on a shipping route. This news contributed to a shift in speculative sentiment, as money managers reduced their long positions in US crude oil.
Meanwhile, gas prices climbed for a second consecutive day, buoyed by warmer weather expectations and increased demand from the power sector. Gold prices reached new heights, driven by central bank purchases and stronger demand from Chinese investment funds. In the industrial metals sector, copper imports from China showed a decline, while iron ore imports saw a modest increase.
Agricultural markets experienced mixed signals, with wheat prices surging due to concerns over Black Sea trade disruptions, but French grain production forecasts suggested a decline in the upcoming season.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
