Prices
WTI Crude Oil
Current Price: $60.3/bbl
U.S. West Texas Intermediate crude oil prices rose by around 0.6% to $60.3/bbl.
Gold
Current Price: $3326/toz
Gold prices inched up 0.3% to $3,326/toz.
Natural gas, U.S.
Current Price: $3.63/mmbtu
Natural gas prices in the U.S. rose 1% to $3.63/MMBtu.
Commodity Events Calendar
| Commodity | Event | Date | Hour |
|---|---|---|---|
| Energy | Baker Hughes North American rig count | 2025-05-09 | 12:00 |
| All | CFTC Commitments of Traders Reports | 2025-05-09 | 15:30 |
| Agricultural | Cotton: World Markets and Trade | 2025-05-12 | 12:15 |
Commodity Market Trends
Pressure Mounts on Oil Market as OPEC+ Resumes Output and U.S. Production Faces Limits
The oil market is facing increasing pressure as OPEC+ moves to restore idled output, while concerns over Trump's sweeping tariffs loom over global growth. As a result, U.S. producers are scaling back production, signaling that domestic oil output may have peaked. In the latest data, U.S. crude inventories fell by 2 million barrels to 438.4 million last week, according to the EIA—far exceeding the expected 833,000-barrel decline. However, rising gasoline inventories have raised concerns about weak demand ahead of a major U.S. driving holiday later this month.
Gold Surges to Record High Amid Trade Turmoil and Safe-Haven Demand
Gold has been on a strong upward trend, hitting a record high above $3,500 an ounce in April as investors looked for safety amid the market turmoil sparked by Trump’s aggressive trade and geopolitical moves. The rally has also been fueled by speculative buying in China and steady central bank purchases. However, Federal Reserve Chair Jerome Powell has signaled that the Fed isn’t in a hurry to change interest rates, despite the ongoing trade tensions driven by President Trump’s policies.
U.S. Natural Gas Futures Rise on Strong Exports
U.S. natural gas futures are getting a boost from strong exports, with the U.S. holding its spot as the world’s top LNG exporter. However, the U.S. Energy Information Administration said gas storage increased by 104 Bcf last week, well above the the 5-year average of 79 Bcf amid low seasonal demand.
Commodity Prices Table
| Commodity | Current Price | Change | Last |
|---|---|---|---|
| Crude oil, Brent | $63.2/bbl | 0.5% | May 9 |
| Natural gas, Europe | €35.7/MWh | 0.2% | May 9 |
| Palm oil, Malaysia | RM3791/mt | -0.2% | May 9 |
| Copper | $4.0/Lbs | -0.9% | May 9 |
| Nickel | $15487/mt | -0.6% | May 9 |
| Platinum | $979.6/toz | 0.5% | May 9 |
| Silver | $32.6/toz | 0.3% | May 9 |
| Cotton | $66.5/Lbs | -0.3% | May 9 |
| Iron Ore, China | ¥698.5/mt | 0.5% | May 9 |