6 days ago

Some commodities wiped out all their 2021 gains

Even though we talked for month about a commodity supercycle, some markets have wiped out gains and some are close to doing so. The grain index fell the most since 2009, and many other commodities such as platinum, nickel and sugar are seeing their big rallies evaporate. 

#Commodities
Some commodities wiped out all their 2021 gains

9 days ago

Lumber took a beating yesterday

In the end, the best cure for high prices, are high prices. Lumber futures fell under the symbolic $1,000 mark, down from their all-high above $1,600 in May. 

#Commodities
Lumber took a beating yesterday

14 days ago

Lumber futures tumble, 30% below their all-time high

Lumber was the new gold. Not anymore it seems. Lumber futures are now trading in the 1100-1200 range, dropping from above the $1,700 range. Was it all speculative inflation?

#Commodities
Lumber futures tumble, 30% below their all-time high

45 days ago

RBOB Gasoline Futures Spike 4% as US declares State of Emergency over Colonial Pipeline cyber attack

Colonial said that it is "in the process of restoring service to other laterals and will bring our full system back online only when we believe it is safe to do so, and in full compliance with the approval of all federal regulations."

Meanwhile, downstream customers, which includes pretty much the entire Eastern seaboard, are starting to freak out as they face a new week without the primary source of gasoline supply for hundreds of millions of customers.

In response to the news, gasoline futures jumped 4% to $2.21 a gallon, approaching the highest since 2014. WTI and Brent both spiked more than 1%, while other products such as diesel and jet fuel are also likely to jump.

RBOB Gasoline Futures Spike 4% as US declares State of Emergency over Colonial Pipeline

58 days ago

Oil climbs thanks to OPEC's optimism

Oil climbed in Asia after OPEC+ predicted a strong global recovery this year, despite the demand being a little shy. New York futures rose above $62 before sliding 0.4% on Monday. OPEC+ believes that oil consumption will rebound by 6 million barrel from last year, but recent happenings in India and other countries might come to challenge this rather bullish outlook. OPEC+ believes that their stocks from the pandemic will be cleared before the end of the quarter. 

Oil climbs in Asia after a long stalemate
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