Commodities
Arabica coffee prices surge as ICE inventories near 26-year low
Arabica coffee futures jumped 5.9% to $3.42/lb as certified inventories at ICE approach historic lows, while raw sugar hit a three-week peak on India’s import move.
U.S. judge dismisses lawsuit challenging Trump offshore drilling order
Federal judge rules environmental groups' case premature as drilling remains off the table in protected coastal waters. Legal challenge can be refiled if offshore activity becomes imminent.
U.S. corn hits three-year high on lower crop outlook
Chicago corn futures surge to $5.25 per bushel after Pro Farmer cuts U.S. production forecast by 9.9%. Brazil and Black Sea supply risks add to tightness.
Gold futures rise 0.06% in European session
December gold futures on Comex climbed to $4,650.41 per troy ounce, while silver and copper futures moved mixed. The U.S. dollar index edged up 0.05%.
Callan JMB to buy North Dakota oil and gas assets for $12.5 million
Callan Power LLC, a unit of Callan JMB, will acquire non-operated interests in 377 producing wells and 27 development wells in the Williston Basin. Deal expected to close by Oct. 1.
Wheat hits one-month high on Russia-Ukraine export risks
Euronext wheat futures rose 0.6% to €246.75 per tonne as geopolitical tensions disrupted Black Sea grain shipments. Chicago wheat surged nearly 2% to a three-year peak.
Northwest Europe gasoline refining margins hit highest since 2022
Gasoline refining margins in the ARA hub surged to $46.74 per barrel amid a 14% drop in regional inventories, the lowest in nearly five years. Traders cite seasonal demand and supply tightness.
Petrobras eyes LNG exports from Brazil's pre-salt fields to Asia
CEO Magda Chambriard outlines plans to liquefy and ship pre-salt natural gas to Asia-Pacific, leveraging offshore FLNG units and Seatrium partnerships. Asia seen as key growth market.
U.S. natural gas storage rises less than expected, lifting price outlook
Weekly storage build of 15 bcf missed forecasts of 19 bcf, signaling stronger demand and tightening supply. Analysts cite weather and production risks.
CNOOC CEO flags potential for U.S.-China energy cooperation amid thaw
Chinese state oil giant sees scope for LNG trade revival despite lingering tariffs as relations improve. CEO cites U.S. supply strength and China’s import demand as key drivers.
Nabors invests $35M in Quaise Energy, takes 14% stake
Nabors Industries acquires a strategic 14% stake in geothermal innovator Quaise Energy through a $35 million equity investment, integrating drilling expertise with millimeter-wave technology.
Lynas Rare Earths expands global supply chain with new deals
Profit surges 2,679% as rare earths producer secures new supply agreements ahead of China’s export controls expiration. Shares fall on earnings miss.
Jadestone posts 13% revenue rise in H1 2026 despite output decline
Revenue climbed to $261.1 million as higher oil and gas prices offset lower production volumes. Operational disruptions and maintenance costs weighed on profitability.
Harmony Gold posts record FY26 profits as copper transition gains traction
Gold miner’s headline earnings surged 87% to R43.63 per share, while copper assets contributed R781 million in free cash flow within eight months of CSA’s acquisition. Dividends hit a record R8.2 billion as the group targets 40,000 tonnes of annual copper output by FY29.
Kaldvík narrows Q2 losses as fish quality improves, targets 45,000-tonne output
Icelandic salmon producer reports narrower EBIT loss in Q2 2026 despite higher costs, citing improved harvest quality and rising market prices. Full-year guidance maintained at 17,000 tonnes.
European gas prices steady after Strait of Hormuz talks ease supply risks
Dutch benchmark gas holds near €65.61/MWh as diplomatic progress in the Middle East stabilizes energy markets. U.S. inventories and LNG capacity seen cushioning Europe ahead of winter.
Strait of Hormuz traffic remains below 10-day average as Iran-Oman talks progress
Five cargo vessels transited the Strait of Hormuz on Tuesday, well below the 10-day average of 15 ships, as Iran and Oman discuss maritime corridor plans and mine removal.
Gold slips as Middle East tensions ease; technical break below $4,649 in focus
Gold prices fell for a third session as diplomatic progress in the Strait of Hormuz eased supply risks, while investors await U.S. inflation data and Fed signals at Jackson Hole. Technical support at $4,649 remains critical.
Arabica coffee futures rise to six-week high on delivery notice
Arabica coffee prices gained 5.9% to $3.4165 per pound as the spot contract's delivery period began with limited activity on ICE. Inventories remain near 26-year lows.
Electra secures C$17.5M for Ontario cobalt refinery construction
Funding from Invest Ontario supports Electra’s Temiskaming Shores facility, targeting commercial cobalt sulfate production by late 2027. Construction is progressing with mechanical completion slated for mid-2027.
CME to launch wind power futures in Q4, covering five global regions
New contracts will track projected wind output in Germany, UK, Australia and Texas, settling against Vaisala Xweather indices. Launch pending regulatory approval.
Ampol posts record first-half profit on refining margin surge
Refining margins tripled to drive RCOP EBITDA to $1.64 billion, underpinning a 376% jump in attributable net profit. Interim dividend raised to 185 cents per share.
Silver holds above $69 as technical targets rise to $72.26
Technical analysis projects silver could reach $72.26 if resistance at $69.58 is cleared, while a deeper pullback may find support near $67.32. CME's 24/7 silver futures expansion adds liquidity.
Wolfe Research notes cautious optimism in global agriculture sector
Research firm cites improving sentiment amid commodity price upticks and fertilizer market adjustments across key regions. Seed price expectations outlined for 2025-2027.