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Short, verified market news summaries; every item names its source and publication date.
Copper jumps on Tuesday as Latin American supply squeeze deepens
Copper prices rose in Tuesday's (21 July) trading on worries over a Latin American supply squeeze, with the metal reaching about 6.37 US dollars per pound, up roughly 2.4 percent from the previous day. The main driver is production bottlenecks in Chile and Peru, which together supply about 40 percent of the world's mined copper. According to reports, the International Copper Study Group (ICSG) has shifted its 2026 balance forecast from a 209,000-tonne surplus to a 150,000-tonne deficit. Antofagasta also said its first-half copper output fell 9.5 percent to 285,000 tonnes. Copper is a key benchmark for the base-metals companies listed on the Tehran Stock Exchange.
The Rio Times · Jul 21, 2026
Brent slips toward $89 on Tuesday as mediation hopes ease war pressure on oil
Crude oil prices edged lower early on Tuesday, July 21, pulling back from the previous session's highest levels in over a month. Brent crude futures for September delivery fell about 35 cents, or 0.4 percent, to around $88.87 a barrel, while U.S. West Texas Intermediate held near $82.47, little changed. On Monday, July 20, Brent had climbed above $90 as the intensifying U.S. and Iran conflict and disruption to Strait of Hormuz traffic tightened the supply outlook. The pullback was tied to reports that mediators are seeking a ten-day pause in the fighting and to Tehran's confirmation that it had received diplomatic proposals. Even so, reduced tanker traffic through Hormuz and a threatened naval blockade of Saudi Arabia by Yemen's Houthis kept a floor under prices. Swings in oil feed directly into Iran's export revenue, budget and currency expectations.
CNBC · Jul 21, 2026
Asian LNG prices jump amid Hormuz crisis; JKM benchmark hits about $21
Spot prices for liquefied natural gas (LNG) in Asia have risen sharply amid the Strait of Hormuz crisis and the continued force majeure on Qatar's exports. The Japan Korea Marker (JKM) rose 5.32% from the previous day to about $20.99 per million BTU on Friday, 17 July 2026. The benchmark is up roughly 37% over the past month and nearly 75% from a year ago. Qatar, one of the world's largest LNG exporters, has extended force majeure on part of its shipments. Higher Asian gas prices increase pressure on major importers such as China, Japan and South Korea and are tied to the energy crisis stemming from Iran US tensions.
Trading Economics · Jul 20, 2026
Global wheat prices hit a two-year high as fresh Black Sea attacks threaten grain exports
Global wheat prices rose on Monday, July 20, 2026, to their highest level since May 2024, accelerating after Russia and Ukraine intensified attacks on each other's commercial ships and ports in the Black Sea and the Sea of Azov, threatening grain exports. Market data showed wheat trading around 684 cents (near $6.84) a bushel on Monday, more than 14% higher over the past month and about 26% above a year earlier. Russian strikes on the ports of Chornomorsk, Odesa, and Pivdennyi have cut Ukraine's grain export capacity by roughly one-third. The jump matters for Iran, one of the world's largest wheat importers, because it can raise import costs and food-inflation pressure amid the war.
Reuters · Jul 20, 2026
Baltic Dry Index falls 3.1 percent on Friday to lowest since July 3
The Baltic Exchange's dry bulk freight index fell 88 points, or 3.1 percent, to 2,752 on Friday, July 17, 2026, its lowest since July 3, driven mainly by weaker capesize rates. The capesize index, which ships cargoes of about 150,000 tonnes of iron ore and coal, lost 242 points, or 5.6 percent, to 4,097 and was down nearly 12 percent for the week. Average daily earnings for capesize vessels dropped $2,196 to $33,653. The dry bulk decline, in contrast with the surge in Persian Gulf tanker rates, shows the Hormuz crisis is weighing more on the energy market and oil routes than on dry bulk shipping.
Hellenic Shipping News Worldwide · Jul 19, 2026
Global copper falls under demand worries and the Hormuz crisis; Chile storm and Antofagasta output drop add supply concern
Global copper prices fell on Friday, July 17, 2026, as worries about weaker demand amid inflation and risks from the Strait of Hormuz crisis offset supply concerns. Copper eased about 1.2 percent on the day. On the supply side, a powerful storm in Chile, the world's largest copper producer, caused widespread power outages and damage, and Antofagasta said its copper output in the first half of 2026 fell 9.5 percent to 285,000 tonnes, factors that lent some support to prices but did not prevent the decline. The trajectory of global copper prices matters for Iran, because it shapes the revenue and valuation of Tehran-listed copper producers such as National Iranian Copper Industries, and feeds into domestic industrial-metal costs.
بیزنس رکوردر / Business Recorder · Jul 19, 2026
World Bank Warns on Food Prices; Wheat Climbs amid the Hormuz Crisis
According to the World Bank's Commodity Markets Outlook, the West Asia war and disruption in the Strait of Hormuz have pushed global food prices higher through rising energy, fertilizer and shipping costs. Grain prices rose about 5% in the first quarter of 2026, led by a 9% jump in wheat and a 4% rise in maize; more recent reports say wheat has climbed about 13% since the previous update. West Asia and the Persian Gulf are the world's largest importers of wheat and rice, making them highly sensitive to price shocks; in March, food inflation rose sharply in the Persian Gulf's import-dependent economies. Iran is also a major wheat importer, and the trend feeds into household costs.
World Bank · Jul 19, 2026
Global Methanol Prices Climb; China's Reliance on Iranian Methanol in Focus
The Hormuz crisis and the US-Iran war have also caught up the methanol and petrochemical market. Industry reports through mid-July 2026 say higher freight, insurance and feedstock costs have lifted prices for methanol, sulfur and polymers, leaving import-dependent buyers with longer lead times. China sources more than 50% of its methanol from Iran, so any disruption to Iranian exports has a direct effect on the global market. According to these reports, non-sanctioned shipowners are refusing to carry Iranian-origin cargoes over fears of sanctions and blocked payments, a factor that could keep region-origin chemical prices elevated through the second half of 2026. Methanol is a major item in Iran's petrochemical exports.
Cyprus Shipping News · Jul 19, 2026
Aluminium Hits a Four-Year High as the Hormuz War Squeezes Persian Gulf Smelters
Aluminium on the London Metal Exchange reached a four-year high of about $3,655 to $3,707 a tonne in July 2026. The Strait of Hormuz is the only sea route for aluminium produced in the Persian Gulf to reach markets in Asia, Europe and the Americas, and its disruption, together with worries over power supply to smelters, has tightened availability. Primary aluminium output at Persian Gulf plants was reported about 35% lower year on year in April and at its lowest in more than a decade. The Persian Gulf and West Asia region accounts for roughly 9% of global primary aluminium production, a share that has gained strategic weight since Russian metal was pushed out of Western supply chains.
The Northern Miner · Jul 19, 2026
Urea Fertilizer Prices Jump amid Hormuz Crisis; Iran and Qatar Halt Ammonia Output
Disruption in the Strait of Hormuz, the route for about a quarter of global urea exports, has put the fertilizer market under pressure. According to World Bank data, the global fertilizer index has risen about 12% during the Hormuz crisis, and the bank projects urea prices will climb close to 60% in 2026. Urea topped $850 a tonne in April, up about 80% from February and the highest since April 2022. The surge stems from a halt to ammonia production in Iran and Qatar's suspension of urea, ammonia and sulfur output during the war, alongside higher natural-gas prices (the main feedstock for nitrogen fertilizers) and rising freight and insurance costs. Iran is itself a significant exporter of urea and petrochemicals, making this market important for its domestic industry.
World Bank · Jul 19, 2026
ANZ raises its 2026 Brent forecast to above 90 dollars a barrel
Australian bank ANZ has raised its forecast for the average 2026 price of Brent crude to above 90 dollars a barrel, citing the loss of roughly 10 million barrels a day of global supply because of the war and the continuing US naval blockade of the Strait of Hormuz. Brent rose above 87 dollars on Friday, July 17, its highest in a month, and gained more than 10 percent over the week. The naval blockade was reimposed on Tuesday, July 14, and commercial traffic through the Strait of Hormuz remains very limited. Any sustained jump in global oil prices has two opposing effects for Iran: it lifts the value of its oil exports, while also adding to domestic inflation by making fuel and imported goods more expensive.
OilPrice · Jul 19, 2026
IATA: jet fuel surge to halve global airline industry profit in 2026
The International Air Transport Association (IATA) said regional disruptions and the surge in jet fuel prices will roughly halve the global airline industry's profit in 2026, cutting it from 45 billion dollars in 2025 to about 23 billion dollars, while the net profit margin falls from 4.2 percent to around 2 percent. Fuel's share of some carriers' operating costs has risen from about 25 to 30 percent to close to 45 percent. In response to this pressure, carriers such as Air France KLM have raised fuel surcharges on long-haul flights, with the charge exceeding 100 euros per ticket on some transatlantic routes. The root cause is the Strait of Hormuz crisis and the drop in refined-product supply, which has sharply lifted the global price of jet fuel.
IATA · Jul 19, 2026
Global diesel refining margins hit a record; US diesel tops $5 a gallon again
As Strait of Hormuz traffic slowed to a near halt during the Iran-US war, a shortage of refined products has pushed the global market toward a fuel crisis and lifted refiners' margins to record highs. According to CNN Business, the refining-margin gauge known as the 3-2-1 crack spread rose to about $70 a barrel on Thursday, July 16, 2026, a record, while US diesel topped $5 a gallon the same day for the first time in three weeks. The key point is that most of the jump in product prices came not from crude itself (which rose about 5 percent over the period) but from tight refining capacity and disrupted product flows through the Strait of Hormuz. Brent traded in a range of $85 to $88 a barrel during the week. For Iran the significance is twofold: Iran is itself an importer of gasoline and diesel, so war damage to refineries and costlier products make domestic supply harder, while the global product price also shapes fuel export and smuggling dynamics.
CNN Business · Jul 19, 2026
Brent posts a third straight weekly gain, ending the week near $88 a barrel
Brent crude closed the week ending Friday, July 17, 2026, up nearly 12 percent, its third consecutive weekly gain, as the escalating US-Iran conflict and disrupted tanker traffic through the Strait of Hormuz pushed the global oil supply-risk premium higher. During Friday's session, Brent jumped about 4.5 percent from its prior close near $84 to around $88 a barrel. Global oil markets are shut on Saturday and Sunday, and traders are waiting for clarity on the Strait of Hormuz at the start of the coming week. For Iran's economy the surge cuts both ways: it lifts the dollar value of oil exports, while adding to domestic inflation by making global fuel and transport more expensive.
گلفتودی (رویترز) · Jul 19, 2026
IEA: The Strait of Hormuz shock is the largest oil supply disruption in the history of the global market
The International Energy Agency (IEA) said in a fresh analysis that the disruption from the Strait of Hormuz crisis has become the largest oil supply loss in the history of the global market, exceeding both the 1973 oil embargo and the 1990 Persian Gulf War shock in combined volume and duration. According to the assessment, oil transiting the strait fell from about 20 million barrels a day before the war to an average of roughly 2.7 million barrels a day over March to May 2026, while cumulative supply losses from regional producers have passed 1.3 billion barrels. After hostilities resumed in July, tanker transits dropped below 10 percent of pre-war levels. The agency's head called it the greatest global energy security challenge in history. Before the crisis, the Strait of Hormuz carried about one-fifth of the world's oil and a large share of its LNG.
International Energy Agency · Jul 19, 2026
Reuters Report: Iran Tells Houthis to Prepare to Close Bab el-Mandeb if US Strikes Its Power Grid
Reuters reported on Thursday, July 16, 2026, citing three sources, that Iran has instructed Yemen's Houthis to close the Bab el-Mandeb Strait at the southern end of the Red Sea to shipping if the United States attacks Iran's power network. According to the report, President Donald Trump had threatened in a July 14 interview to target Iran's electricity infrastructure. A source close to the Houthis said the group has positioned drones and missiles to potentially attack vessels in Bab el-Mandeb. Based on data from maritime-trade analytics firm Kpler, roughly 7 percent of global oil supply transited the strait in June, a route that has become an alternative corridor for the region's energy exports after disruption at the Strait of Hormuz, meaning its closure could add fresh pressure to the global oil market.
The Express Tribune (Reuters) · Jul 18, 2026
Global silver hits eight-month low as gold-to-silver ratio climbs near 72
Silver fell to about $55.80 an ounce in global trading on Friday, July 17, 2026, marking its lowest level in eight months. Silver is down more than 20% from a month ago. The drop came as global gold also stayed below $4,000 an ounce, but silver declined more sharply: the gold-to-silver ratio (the number of ounces of silver needed to equal the value of one ounce of gold) rose to about 72 on Friday, up from around 71.6 on Thursday. Analysts cite concerns that the Federal Reserve will keep interest rates elevated, along with the US-Iran war that has pushed up oil prices and inflation worries, as pressures weighing on precious metals.
Yahoo Finance · Jul 17, 2026
Brent holds above $85 on Friday; oil up over 11% for the week, its best week since late April
Oil prices rose on Friday, July 17, 2026 (26 Tir 1405), keeping Brent above $85 a barrel. September Brent futures gained about 0.9% to around $85, while U.S. West Texas Intermediate for August delivery added about 1% to roughly $79.7. Both benchmarks are up more than 11% for the week, their best weekly performance since late April. The main driver is the intensifying U.S.-Iran conflict and fears of disruption to oil flows through the Strait of Hormuz, where shipping traffic has fallen sharply since the escalation began. For Iran the rally cuts both ways: higher prices lift the value of oil exports, yet the U.S. naval blockade and the halt in loadings at the Kharg Island terminal limit its ability to fully capitalize on them.
CNBC · Jul 17, 2026
IEA Warns the World Has Just Weeks to Reopen the Strait of Hormuz
Fatih Birol, executive director of the International Energy Agency, warned on Thursday, July 16, 2026 that the global economy will face renewed difficulty unless the Strait of Hormuz crisis is resolved within the next few weeks. He stressed that "it is not months, it is weeks" and said the waterway must be reopened "fully and unconditionally." Noting that roughly 20 percent of the world's oil and gas normally passes through the Strait of Hormuz, Birol said markets are nervous and grappling with "big uncertainty." Disruption to Persian Gulf energy and petrochemical feedstock shipments has already hit economies such as South Korea and Japan, he said, while countries like Bangladesh, Pakistan and India are far more vulnerable to a cutoff. The remarks came on the sixth day of the Iran-US military confrontation over control of Hormuz, as Brent crude steadied near 85 dollars after four days of gains.
Business Standard · Jul 16, 2026
Global wheat climbs to highest since late May; futures near $6.50 a bushel
Wheat futures rose to around $6.50 a bushel in mid-July 2026, their highest level since about May 20, as investors weighed geopolitical risks and their potential impact on global grain flows. Renewed US-Iran tensions and concerns over higher fertilizer and fuel costs following disruption in the Strait of Hormuz, along with a drone strike on the Sea of Azov route (which handles about a quarter of Russia's grain exports), were among the drivers. The US government also cut its 2026/27 wheat production forecast to 41.8 million tonnes, the lowest since 1970. Global wheat prices matter for Iran, a major wheat importer, in terms of food security and import costs.
Trading Economics · Jul 16, 2026
Global silver slips below $58; gold-to-silver ratio climbs to about 70
Spot silver fell about 1.5 percent in Wednesday, July 15, 2026 trade, sliding to near $57.68 an ounce, while gold held roughly steady near $4,060 an ounce. As silver's drop outpaced gold, the gold-to-silver ratio rose to about 70, its highest in recent weeks. The main drag on silver was persistently high oil prices amid US-Iran tensions and worries that inflation would linger, keeping the prospect of tighter Federal Reserve policy alive; higher interest rates weigh on non-yielding precious metals. Silver also matters for Iran's market: the global ounce feeds through to domestic silver and precious-metal prices, and several silver investment funds have launched on the Iran Mercantile Exchange in recent weeks.
Kitco · Jul 16, 2026
Hormuz Crisis Squeezes the Fertilizer and Petrochemical Chain; World Bank Warns of Urea Price Jump
The disruption at the Strait of Hormuz, which flared again this week with the escalation between the United States and Iran, is also keeping the global fertilizer market under pressure. Nitrogen fertilizers (urea), whose production depends on natural gas, have roughly doubled since the Hormuz disruption began in late February, and in April 2026 urea passed 850 dollars per tonne, the highest level since April 2022. Persian Gulf and West Asian countries supply close to one-quarter of the world's urea exports, and Hormuz is the main route for those shipments. During the war, Iran has halted its ammonia production, and Qatar has suspended production of urea, ammonia and sulfur after damage to facilities. The World Bank has warned that, if the Hormuz disruption persists, global fertilizer prices could rise by more than 30 percent in 2026. The relevance for Iran cuts both ways: Iran is a significant exporter of urea and petrochemical products, and the production halts and export disruption affect both the country's foreign-currency revenue and its listed petrochemical companies.
Fertilizer Daily · Jul 16, 2026
Hormuz Crisis Reaches the Gas Market: European Gas and Asian LNG Rise as Qatar Exports Are Disrupted
The US-Iran military confrontation and the slowing of traffic through the Strait of Hormuz spread to the global gas market this week. Europe's benchmark natural gas (the front-month Dutch TTF contract) rose about 3 percent in mid-July 2026 trading to near 50 euros per megawatt-hour, while Asia's JKM LNG benchmark climbed above 18.5 dollars per million BTU. The main driver is the disruption to Qatar's LNG exports. Qatar, alongside Australia and the United States one of the world's largest LNG exporters, ships almost all of its cargoes through the Strait of Hormuz. About one-fifth of the world's LNG passes through the strait, and Europe sources roughly 12 to 14 percent of its LNG from Qatar. Qatar had already curbed part of its maritime activity after a projectile struck one of its LNG carriers, the Al Rekayat, on 7 July. The relevance for Iran lies in that same chokepoint: the Strait of Hormuz, which also carries Iran's oil exports, is now throttling Persian Gulf energy flows, and the surge in global energy prices feeds through to Iran's economy and domestic markets.
OilPrice · Jul 16, 2026
Brent holds near $85 for a fourth session, at a one-month high as the Hormuz crisis deepens
Oil prices held at elevated levels in Thursday, July 16, 2026 trading, staying near a one-month high for a fourth straight session of gains. During the day's Asian session, Brent crude traded around $85 a barrel and US West Texas Intermediate around $80. The main drivers are the resumed naval blockade of Iran's ports, continued US strikes, and the IRGC's threat to cut off the region's energy exports, which has revived fears of supply disruption through the Strait of Hormuz. Reports put Brent more than 15% above its level before the renewed blockade began. Higher global oil prices also feed indirectly into Iran's gold and currency markets.
Yahoo Finance · Jul 16, 2026
Global silver climbs about 3 percent toward $59 after soft US inflation data
Spot silver rose about 3 percent on Tuesday, July 14, 2026, climbing toward $59 an ounce, a rebound after the previous day's sharp fall. The main driver was the softer-than-expected US June inflation report and reduced expectations of a Federal Reserve rate hike, which weakened the dollar and supported precious metals. Silver rose alongside gold, the same channel whose effect feeds through to Iran's domestic gold and coin market.
Kitco · Jul 14, 2026
Global Gold Climbs Back Above $4,000 After Soft US Inflation Data
Spot gold climbed back above $4,000 an ounce on Tuesday, July 14, after three straight sessions of declines. The rebound followed the release of June US inflation data that came in softer than expected, easing some concern about a Federal Reserve rate hike. According to Sahmino data, gold traded near $4,076 an ounce during Tehran afternoon hours, up about 1.9% from the previous day. On Monday, gold had slipped below $4,000 to its lowest level since July 1. A softer dollar and higher oil prices also supported the metal. Swings in the global ounce, together with a weaker rial, are the main drivers of gold and coin prices in Iran's domestic market.
Invezz · Jul 14, 2026
Brent Crude Hits One Month High, Up Over 4 Percent After Trump's 20 Percent Strait of Hormuz Toll Plan
Brent crude oil jumped more than 4 percent on Tuesday, July 14, 2026, reaching about $86.9 a barrel, its highest level in a month. West Texas Intermediate (WTI) also rose about 2.8 percent to near $80.4 a barrel. The main driver was Donald Trump's announcement of a 20 percent toll on all cargo passing through the Strait of Hormuz and the reinstatement of a naval blockade of Iranian ports. Estimates put the toll at roughly $32 million for a supertanker, far above the previous charge of up to $2 million. Fears of a supply disruption intensified after Hormuz transits fell to 57 from Friday through Sunday, a drop of more than 50 percent versus the prior week. The Strait of Hormuz is the main export route for Iranian and Persian Gulf oil, and swings in global crude prices feed directly into Iran's foreign-currency earnings and domestic markets.
Al Jazeera · Jul 14, 2026
OPEC cuts 2026 oil demand growth forecast for a third straight month, to 800,000 bpd
In its monthly oil market report published on Monday, July 13, OPEC lowered its 2026 global oil demand growth forecast for a third consecutive month, to about 800,000 barrels per day. The report attributed the bulk of that growth, roughly 740,000 barrels per day, to non-OECD countries. OPEC also put 2027 demand growth at 1.94 million barrels per day. OPEC+ crude output rose by about 3 million barrels per day in June to average 36.28 million barrels per day. OPEC's demand outlook and supply policy carry direct significance for the oil-reliant economy of Iran, a member of the organization.
Zawya · Jul 14, 2026
Brent rises 2% to $85 on Tuesday as US-Iran strikes enter a third night and Hormuz traffic falls
Crude oil rose further on Tuesday, July 14, 2026, as tensions between the United States and Iran escalated. Brent gained about 2% to $85 a barrel and West Texas Intermediate (WTI) rose 2.3% to $80, extending Monday's near 9% jump, which was Brent's biggest single-day gain since 2020. US forces struck Iranian military targets, coastal air-defense systems and missile and drone capabilities for a third consecutive night in a roughly five-hour mission. Ship-tracking data showed confirmed crossings of the Strait of Hormuz fell about 52% week on week over July 10 to 12 as vessels shifted to more defensive routing. The strait carries roughly one fifth of the world's oil and gas trade, so disruptions feed directly into global prices and inflation expectations.
CNBC · Jul 14, 2026
Global gold falls for a second straight day; silver drops more than 4%
The global spot gold price fell for a second straight day on Monday, July 13, 2026, dropping more than 2% to around $4,020 an ounce. The decline deepened in later trade, with the metal sliding to about $3,990 (down more than 3% from the previous day). Silver fell alongside gold, losing more than 4% to below $58 an ounce. Escalating US-Iran military tensions and rising inflation concerns, together with a stronger dollar and higher odds of a September Federal Reserve rate hike (markets now price the chance near 70%), have intensified selling pressure on the non-yielding precious metals. In Iran's domestic market, despite the drop in the global ounce, 18-carat gold held near 17,682,000 tomans per gram, little changed, supported by the weaker rial.
Yahoo Finance · Jul 13, 2026
IEA: return of oil flows through the Strait of Hormuz lifted global supply by 4.1 million barrels a day in June
In its monthly Oil Market Report published this week, the International Energy Agency (IEA) said global oil supply jumped by 4.1 million barrels a day in June to 98.8 million barrels a day, driven mainly by the resumption of oil flows through the Strait of Hormuz after the interim US-Iran ceasefire. Even so, world output remains about 9.4 million barrels a day below pre-war levels. According to the report, total Persian Gulf oil exports rose by 6.5 million barrels a day in June to 16.1 million barrels a day, still far below the pre-war average of about 24 million barrels a day. The agency warned that the escalation in fighting on July 7 and 8 clouds the outlook and could upend its forecast of the market flipping to a surplus in 2027. Global oil demand is projected to fall by about 1 million barrels a day across 2026 and to rise by about 2 million barrels a day in 2027.
International Energy Agency · Jul 13, 2026
Global platinum nears lowest since November 2025; palladium also falls
On Monday, July 13, 2026, global platinum fell about 0.5% to around $1,621 an ounce, near its lowest level since November 2025. Platinum futures traded near $1,630. Palladium held above $1,240 an ounce, close to its lowest level since early October. The pressure on both metals was part of a broad weakening across precious metals that day, driven by a jump in oil prices amid US-Iran tensions and a firmer dollar.
Trading Economics · Jul 13, 2026
Global silver drops below $59, down about 1.7% on Monday
Global silver fell below the $59 an ounce mark on Monday, July 13, 2026. Spot silver traded in a range of roughly $58.5 to $59 an ounce, down about 1.7% from the previous day. The decline was part of a broader weakening across precious metals that day. A jump in oil prices following the escalation of military tensions between the United States and Iran fuelled worries about inflation and the prospect of interest rates staying higher for longer which, along with a firmer dollar, pressured both gold and silver. Silver also matters for the Iranian market: subscription to the country's first silver investment fund, trading under the symbol Neqrat, opened on the same day, Monday, July 13.
Fortune · Jul 13, 2026
Copper slips toward a two-week low
Copper fell to about 6 dollars per pound (near 13,100 dollars a tonne) on Friday, 10 July, its lowest in two weeks. A stronger dollar and concern over demand in China, the world's largest copper consumer at more than half of global usage, drove the decline. Copper is a base metal that influences the steel and construction industries.
Trading Economics · Jul 13, 2026
Soybeans rise 1.5 percent to about 11.97 dollars a bushel in Chicago
Soybean futures rose 1.5 percent to about 11.97 dollars per bushel on the Chicago Board of Trade on Friday, 10 July. December-delivery corn traded around 4.61 dollars a bushel. USDA crop reports, weather in the US Midwest growing regions and trade developments with China were cited as key drivers.
Trading Economics · Jul 13, 2026
US natural gas falls over 6 percent to a six-week low
US Henry Hub natural gas fell more than 6 percent to 3.01 dollars per million Btu on Thursday, 9 July, its lowest in six weeks. Freeport LNG said maintenance at its pre-treatment and liquefaction facilities would begin on 10 July and run through late August; the resulting drop in demand from the export plant weighed on prices.
Trading Economics · Jul 13, 2026
Cocoa drops over 6 percent to about 6,065 dollars a tonne
Cocoa fell 6.04 percent from the prior day to about 6,065 dollars per tonne on Saturday, 11 July. The market has seen sharp swings in recent months, driven by supply volatility in West African producing countries and shifting demand from processors.
Trading Economics · Jul 13, 2026
Arabica coffee retreats about 8 percent from a five-month high
Arabica coffee futures fell 3.92 percent to about 334.25 cents per pound on Friday, 10 July. The pullback followed a rally to a five-month high near 3.50 dollars on 6 July, bringing the total decline from that peak to roughly 8 percent. Profit-taking was cited as the main driver of the retreat.
Trading Economics · Jul 13, 2026
OPEC cuts its 2026 global oil demand growth forecast for a second straight month to 970,000 b/d
In its July 2026 Monthly Oil Market Report, OPEC cut its forecast for 2026 global oil demand growth to about 970,000 barrels per day, down from a previous estimate of 1.17 million b/d and the second consecutive monthly downgrade. OPEC attributed part of the cut to a 60,000 b/d reduction in India's demand growth and a roughly 40,000 b/d fall in West Asia consumption. The report estimates that West Asia oil demand in March, the first month of the Iran war, was about 500,000 b/d lower than a year earlier. For 2027, however, OPEC is more optimistic, projecting demand growth of about 1.7 million b/d, an upward revision of roughly 0.2 million b/d from the previous month, driven mainly by China and India.
Argus Media · Jul 13, 2026
Brent crude jumps more than 3% past $78 on Monday as Strait of Hormuz tensions escalate
Brent crude jumped more than 3% past $78 a barrel on Monday, July 13, 2026, reaching about $78.8, a gain of nearly 3.7% from the previous day that snapped a two-day losing streak. The move was attributed to renewed escalation between Iran and the United States and an exchange of strikes around the Strait of Hormuz. About one-fifth of the world's traded oil passes through the Strait of Hormuz, and vessel-tracking data show large-ship traffic on the southern lane has effectively halted since the middle of last week. Despite Monday's jump, Brent is still down about 5.3% over the past month and up roughly 14% from a year ago. Swings in the global oil price reach Iran's markets through two channels: government oil revenue and exchange-rate expectations.
Trading Economics · Jul 13, 2026
Aluminum Falls Nearly 2 Percent on the London Metal Exchange on Friday
Aluminum on the London Metal Exchange fell about 1.95 percent on Friday, July 10, 2026, to near 3,146 dollars per ton. The decline extended the volatility in base metal markets, which have been moving between concern over global demand and geopolitical developments. Global base metal prices affect export focused aluminum producers listed on the Tehran Stock Exchange, since their product pricing is typically tied to global benchmarks and the exchange rate.
Trading Economics · Jul 11, 2026
Global Wheat Hits a Six Week High as Kerch Strait Closure and Lower US Stocks Drive Gains
Global wheat prices climbed past 6 dollars a bushel on Friday, July 10, 2026, reaching their highest level in about six weeks. Two main drivers lifted prices: the closure of the Kerch Strait, the narrow passage between the Black Sea and the Sea of Azov, amid Russia-Ukraine tensions, and US Department of Agriculture data showing lower wheat stocks. Roughly a third of the wheat exports of Russia, the world's largest exporter, flow through the Sea of Azov. The move matters for Iran, a major importer of wheat and animal feed: costlier global grain can feed through to import costs and domestic food inflation.
Trading Economics · Jul 11, 2026
Global Urea Price Jumps on Thursday to About 416 Dollars a Ton
The global urea price rose about 8 percent from the previous day on Thursday, July 9, 2026, to near 416.5 dollars per ton. The increase came amid concern over supply disruption and higher transport costs stemming from West Asia and Strait of Hormuz tensions, which have pressured the global fertilizer and petrochemical markets. The move matters directly for Iran, one of the world's largest exporters of urea and methanol: higher global prices can support the revenue of export focused petrochemical companies listed on the Tehran Stock Exchange, although shipping and export constraints remain a risk.
Trading Economics · Jul 11, 2026
Iron ore climbs toward $99 as an Australian mine-port strike and Chinese curbs lift prices
Global iron ore rose a slight 0.15 percent to about $98.7 a tonne on Thursday, July 10. The commodity is down roughly 2.8 percent over the past month. Iron ore futures rebounded from near one-year lows to above 740 yuan after news that workers at BHP's Port Hedland iron ore terminal in Australia will stage an eight-hour strike on July 16, and as China broadened restrictions on miner Fortescue. The gains came despite Chinese port inventories reaching a record of about 160 million tonnes. Swings in iron ore prices affect the input costs and export competitiveness of Iranian steelmakers.
Trading Economics · Jul 11, 2026
Global silver ends the week below $60 an ounce, down about 4%
Silver fell below $60 an ounce at Friday's close on July 10 and ended the week down about 4 percent. The gold-to-silver ratio stood at roughly 68.9 that day. The pullback came even as oil rose about 5 percent over the same week amid escalating US-Iran tensions and disruption in the Strait of Hormuz, while expectations of a higher-for-longer Federal Reserve policy weighed on precious metals. Even so, silver remains nearly 65 percent higher than it was a year ago.
Yahoo Finance · Jul 11, 2026
Brent crude ends the week up about 5% near $76.5 as Strait of Hormuz tensions drive gains
Brent crude ended the week to Friday, July 10, 2026 near $76.5 a barrel, up about 5% over the week, its biggest weekly gain in months. On Thursday Brent had risen roughly 0.7% to $76.56 a barrel. The main driver was renewed exchanges of strikes between Iran and the United States and disruption to shipping through the Strait of Hormuz, which lifted supply risk; about a quarter of the world's seaborne oil and LNG passes through the strait. Oil prices matter directly for Iran, whose crude exports are the main anchor of its foreign-currency earnings and state budget.
Fortune · Jul 11, 2026
HSBC Cuts 2026 Gold Price Forecast to $4,560, Diverging From Bernstein's Upgrade
HSBC lowered its average 2026 gold price forecast from $4,864 to $4,560 an ounce on Thursday, July 9, 2026 (18 Tir 1405), and trimmed its 2027 forecast from $5,000 to $4,925. The bank cited a hawkish tilt from the Federal Reserve under new Chair Kevin Warsh and a stronger US dollar as the reasons for the cut. The revision contrasts with Bernstein, which raised its 2026 gold target to $4,533 last week. The diverging analyst calls highlight uncertainty in the gold market amid ongoing US-Iran tensions.
Kitco News (Reuters) · Jul 11, 2026
Bernstein Raises 2026 Gold Price Target to $4,533 an Ounce
Investment bank Bernstein raised its 2026 gold price target to $4,533 an ounce in a research note dated July 9, 2026 (18 Tir 1405), up from its prior call, and set an H2 2026 target of $4,375. The bank cited expectations that the Federal Reserve will hold rates steady or deliver at most one to two hikes over the next 12 months, along with continued central-bank gold buying, as the drivers behind the upgrade.
Investing.com · Jul 11, 2026
Iran's Floating Oil Stockpile Swells to 68 Million Barrels as Discount to China Widens to $5
Following Washington's revocation of its 10-day window for Iranian oil sales on July 7, 2026 (16 Tir 1405), the volume of Iranian crude idling or without a confirmed buyer in Asian waters has climbed to between 58 and 68 million barrels, according to tracking firms Kpler and Vortexa. Bloomberg reported that more than 20 million barrels of that crude have been idling for at least seven days, up nearly 18 percent from the prior week. At the same time, discounts on Iranian Light crude cargoes for July delivery to Chinese buyers widened to 2.50 to 5 dollars a barrel below Brent, compared with about a 1 dollar discount before the short-lived US-Iran arrangement.
Bloomberg · Jul 11, 2026
Suez Canal to Raise Transit Surcharges by Up to 37 Percent From July 15
Suez Canal Authority officials announced that transit surcharges for most vessel classes will rise starting July 15, 2026 (24 Tir 1405). For the first time, container ships will face a 12 percent surcharge, while the existing tiered rate structure for containers otherwise remains unchanged. Laden crude oil tankers see the steepest increase, paying up to 37 percent above the base transit fee. Gas carriers and bulk carriers are also subject to higher charges. The authority said the adjustment reflects its assessment of maritime market conditions and may be revised or cancelled depending on future developments. The fee increase comes as shipping through the Strait of Hormuz remains disrupted, adding to global energy and freight cost pressures.
Splash247 · Jul 10, 2026
IEA: Global Oil Demand Set for First Annual Drop Since Covid Pandemic in 2026
The International Energy Agency (IEA), in its monthly Oil Market Report published Friday, July 10, 2026 (19 Tir 1405), said global oil demand is set to fall by about one million barrels per day (mb/d) in 2026, the first annual demand decline since 2020, the pandemic year. According to the report, the demand contraction reached 4.8 mb/d in the second quarter of 2026 and eases to 1.7 mb/d in the third quarter, before demand rises by 1.2 mb/d in the fourth quarter of 2026. Global demand bottomed at 97.9 mb/d in May 2026, down 5.3 mb/d year on year, and the IEA expects demand to recover by more than 8 mb/d from that low by October 2026. For 2027, the agency projects demand growth of 2 mb/d. The IEA attributed most of the contraction to disruption in Asia's import-dependent economies and to petrochemical feedstock supply chains (naphtha and LPG) that run through the Strait of Hormuz, a route that has faced serious shipping disruption in recent weeks amid renewed fighting between Iran and the United States.
CNBC · Jul 10, 2026
Brent Crude Nears $76 on Hormuz Supply Fears, Up About 6% for the Week
Brent crude rose to $76.34 a barrel on Friday, July 10, 2026 (19 Tir 1405), up roughly 6 percent for the week, while WTI traded at $72.15, up about 5 percent weekly, Reuters reported via Yahoo Finance. Renewed fighting between the United States and Iran in recent days has curtailed shipping through the Strait of Hormuz, which carries about 20 percent of the world's daily oil and gas supply, delaying the strait's full reopening. The report noted that technical talks between the two sides are continuing.
Reuters (via Yahoo Finance) · Jul 10, 2026
Silver and platinum climb alongside gold on Hormuz-driven safe-haven demand
Global silver prices rose 0.62% to $60.32 an ounce on Friday, July 10 (19 Tir). Platinum also gained 0.75%, or $12, trading between $1,621 and $1,631 an ounce. According to Kitco News and Trading Economics, the simultaneous rise in precious metals mirrored gold's return above $4,100 an ounce and reflected renewed safe-haven demand as US-Iran military tensions flared again and shipping traffic through the Strait of Hormuz slowed. Silver was nonetheless still on track for a weekly loss, as investors continued to monitor Middle East developments and their impact on inflation and Federal Reserve policy.
Trading Economics · Jul 10, 2026
Oil Retreats After Topping $78 as Strait of Hormuz Risk Premium Eases
WTI crude opened at $72.22 a barrel on Wednesday, July 8, 2026 (17 Tir), while Brent opened at $75.92 the same day and touched $78.17 intraday. According to Fortune, the rise reflected concern over a possible disruption to oil transit through the Strait of Hormuz after three tankers were attacked and a fresh round of US strikes on Iran began. By Thursday, July 9 (18 Tir), however, Brent eased back toward $77 a barrel, giving up part of the prior two days' gains. Analysts attributed the swings to the tug of war between regional geopolitical risk and the market's wait for the US Federal Reserve's next interest rate decision.
Fortune · Jul 10, 2026
Seven OPEC+ Members to Raise August Oil Output by 188,000 Barrels a Day
Seven OPEC+ members, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, agreed on Sunday, July 5, 2026 (14 Tir), to raise their combined oil output by 188,000 barrels a day in August. According to Al Jazeera, it marked the fifth consecutive month the group has agreed to raise production, part of a gradual unwinding of the output cuts announced in 2023. The countries said in a statement they would continue to monitor market conditions and maintain a cautious approach. The decision came as oil prices eased from the highs of recent weeks.
Al Jazeera · Jul 10, 2026