Blasts reported on Iran's key oil island as crude tests highs
Reports of explosions on Iran's Kharg Island, a key oil export hub, as WTI crude tests July highs.
08/09/2026 19:012 min read
Commodities News
Gold, crude oil, industrial metals and agricultural products: supply and demand, inventories and geopolitical risk.
Oil Retreats After Breakout Above June High Fails
Oil rose to $94.37 before falling to $92.30, with a false breakout above the June high. Geopolitical events failed to sustain gains.
08/09/2026 18:225 min read
Jeddah airport said to halt flights as Saudi tensions mount
Reports said flights at Jeddah airport were suspended as Saudi-Houthi clashes intensified and oil prices climbed to $94.73.
08/09/2026 17:139 min read
Brent Crude Tops $100 for First Time in Three Months
Brent crude topped $100 a barrel for the first time in three months after Houthi attacks on Saudi oil sites.
08/09/2026 13:309 min read
China purchased 20.2 metric tons of gold in August, largest in 22 months
Gold reserves held by the People's Bank of China climbed by 650,000 ounces in August, marking the biggest monthly increase since October 2023. The purchase…
08/09/2026 12:284 min read
Oil surges on Houthi strikes; German trade surplus widens
Oil prices rose 2.66% after Houthi attacks on Saudi energy sites; German trade surplus widened sharply to €21.3 billion in July.
08/09/2026 11:428 min read
Middle East tensions keep oil prices elevated, diesel at record
US gasoline and diesel prices remain high amid Middle East tensions, with oil supply risks and increasing rate-hike expectations globally.
08/09/2026 11:419 min read
Crude oil traders advised to wait for break below 94.14 before shorting
Crude oil traders are advised to wait for a break below 94.14 before shorting.
08/09/2026 09:519 min read
How crude oil prices shape inflation and central bank policy
Oil prices move inflation directly and through expectations, and central banks must judge whether energy shocks require a policy response.
08/09/2026 09:3213 min read
Houthi strikes on Saudi energy sites extend oil's gains
Iran-backed Houthis attacked Saudi energy facilities, injuring 73; WTI crude rose above July high, nearing $100.
08/09/2026 08:027 min read
Copper's Record Rally Hinges on US Tariff Decision
Copper hit a record $14,617/ton on the LME as traders await a US tariff decision on refined metal amid supply tightness.
08/09/2026 06:129 min read
China's freeze on Rio Tinto ore purchases seems to be starting; Australian dollar declines
China's CMRG directive to halt Rio Tinto ore negotiations appears to become effective in September, but enforcement unconfirmed; AUD weakens.
08/09/2026 02:4417 min read
China's oil demand to accelerate, Vitol CEO says, calling current gap unsustainable
Vitol CEO sees China oil imports picking up, calls current gap unsustainable; global demand to drop 1.5 mln b/d in 2026.
08/09/2026 02:2114 min read
Goldman Sachs Warns Oil May Reach $120 After Trump Ends Iran Diplomacy
Goldman Sachs warns oil could hit $120 as Trump abandons diplomacy with Iran and blockades the country.
08/09/2026 02:1110 min read
Goldman lifts Brent, WTI outlook; $120 oil possible if shipping attacks widen
Goldman Sachs raised its oil price forecasts and flagged a potential rally to $120 per barrel if Middle East shipping attacks intensify.
08/09/2026 00:1114 min read