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OPEC+ Extends Production Cuts Through Q3 as Demand Recovery Lags Forecasts
OPEC and allied producers voted unanimously to maintain current output restrictions, citing weaker-than-expected demand growth in Europe and slowing industrial activity in China.
Gold Surges on Safe-Haven Demand as Dollar Weakens for Third Straight Session
Spot gold climbed 0.52% to $2,341/oz as investors sought refuge from equity volatility, with the DXY index falling below 98 for the first time since February.
European Natural Gas Prices Jump 4% on Norway Pipeline Maintenance Outage
TTF natural gas futures rose sharply after Equinor announced unplanned maintenance on a key North Sea pipeline, cutting Norwegian gas flows to Europe by roughly 15% for two weeks.
Copper Hits 14-Month High as China's Industrial PMI Returns to Expansion Territory
LME copper futures rose 1.15% to $4.54/lb after official Chinese PMI data showed manufacturing activity expanding at its fastest pace since early 2023, boosting demand expectations for industrial metals.
Saudi Arabia Signals It Could Boost Output in July If Prices Remain Elevated
Saudi Aramco officials indicated Riyadh may increase crude output by 500,000 barrels per day at the next OPEC+ meeting if market conditions warrant, marking a potential policy shift.
US Shale Production Hits Record 13.4 Million Barrels Per Day in March EIA Data
EIA data showed US crude output climbed to a new all-time high last month, primarily driven by the Permian Basin, offsetting some of the OPEC+ supply cuts and capping price upside.
US LNG Export Capacity Reaches Record High as New Sabine Pass Terminal Opens
The first cargo from Sabine Pass Train 7 departed for Europe this week, adding 0.9 bcf/d of liquefied natural gas export capacity and further cementing the US as the world's largest LNG supplier.
Ukraine Grain Harvest Forecast Cut 8% on Delayed Spring Rains and Frost Damage
Agricultural consultancy IKAR lowered its Ukraine winter wheat harvest forecast to 24.2 million tonnes from 26.4 million, citing cold late-April temperatures that damaged newly emerged crops.
Gold Notches All-Time Intraday High of $2,430 Before Profit-Taking Pullback
Spot gold briefly touched $2,430/oz in Asian trading — a new record — before retreating as US data showed stronger-than-expected retail sales, denting rate-cut hopes and prompting short-term sellers.
Midwest Drought Conditions Worsen, Threatening US Corn Crop Early Planting Season
USDA drought monitor data showed 38% of key corn-producing states facing severe to extreme drought conditions, raising concerns about yield forecasts for the 2026 crop year.
Coffee Futures Hit 47-Year High as Brazilian Frost Damage Worse Than Expected
ICE arabica coffee futures surged to their highest level since 1977 after Brazilian crop assessors confirmed more extensive frost damage in Minas Gerais than initially reported, tightening already-thin global supplies.
Silver Outperforms Gold on Industrial Demand Surge From Solar Panel Manufacturers
Silver futures rose 0.73% to $29.84/oz as record global solar panel production boosted industrial silver demand, with analysts forecasting a fifth consecutive year of structural supply deficit in 2026.
Brent-WTI Spread Narrows to 6-Month Low as US Crude Storage Surplus Builds
The Brent-WTI crude oil spread tightened to $3.33/barrel, the narrowest since October, as weekly EIA data showed US commercial crude stocks rising for the fourth consecutive week.
Analysts Raise Winter 2026-27 Natural Gas Price Forecasts on La Niña Outlook
Multiple banks lifted their Henry Hub natural gas price targets for the upcoming heating season after NOAA's seasonal outlook predicted La Niña conditions through Q1 2027, implying colder-than-average winters.
Major Chilean Copper Mine Strike Enters Day 12 as Wage Talks Stall
Workers at Codelco's Chuquicamata mine, one of the world's largest open-pit copper operations, continued their strike for a 12th day as management and union representatives failed to reach agreement on a new wage contract.