Commodities

Crude, Gasoline Down Ahead Of OPEC+ Decision, While Nat Gas Keeps Rising On Sizzling US Weather

The Financial Times reported that a UK-US travel corridor is unlikely before September, damping hopes of seeing international travel rise significantly over the summer while also questioning the feasibility of AstraZeneca-vaccinated people travelling to the US unless the FDA approves the AstraZeneca vaccine

Published ET

Brent Front Month and 9-month Backwardation | Source: Refinitiv

Brent Front Month and 9-month Backwardation | Source: Refinitiv

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NOTABLE GAINERS

  • CBoT Corn up 6.1% (YTD: 39.6%)
  • CBoT Soybean Oil up 4.4% (YTD: 43.8%)
  • Coffee Robusta Vietnam Grade 1 Wet Pol Spot up 3.8% (YTD: 13.7%)
  • NYMEX Henry Hub Natural Gas up 3.5% (YTD: 42.5%)
  • ICE-US Coffee up 3.2% (YTD: 26.5%)
  • CME Lean Hogs up 2.9% (YTD: 49.3%)
  • CME Random Length Lumber up 2.7% (YTD: -8.4%)
  • DCE Iron Ore Continuation Month 1 up 2.5% (YTD: 25.3%)
  • Coffee Arabica Colombia Excelso EP Spot up 2.4% (YTD: 21.7%)

NOTABLE LOSERS

  • SMM Rare Earth Cerium Metal Spot Price Daily down -7.1% (YTD: 6.4%)
  • SMM Rare Earth Lanthanum Metal Spot Price Daily down -5.1% (YTD: -1.8%)
  • Silver/US Dollar 1 Month ATM Option IV down -3.8% (YTD: -46.0%)
  • NYMEX RBOB Gasoline down -2.1% (YTD: 57.4%)
  • CME Cattle (Feeder) down -2.0% (YTD: 12.5%)
  • ICE Europe Brent Crude down -2.0% (YTD: 44.2%)
  • Platinum spot down -1.7% (YTD: 2.2%)
  • Crude Oil WTI Cushing US FOB down -1.7% (YTD: 50.9%)
  • SMM Rare Earth Terbium Oxide Spot Price Daily down -1.6% (YTD: -16.6%)
  • Zhengzhou Exchange Thermal Coal down -1.6% (YTD: 15.9%)
  • NYMEX Light Sweet Crude Oil (WTI) down -1.5% (YTD: 50.3%)
  • NYMEX NY Harbor ULSD down -1.4% (YTD: 43.5%)
GSCI Sub Indices Today | Sources: ϕpost, FactSet dataGSCI Equal Weight Index | Sources: ϕpost, Refinitiv data

ENERGY

  • WTI crude front month currently at US$ 72.88 per barrel, down -1.5% on the day (YTD: +50.3%); 6-month term structure in tightening backwardation
  • Brent crude front month currently at US$ 74.68 per barrel, down -2.0% on the day (YTD: +44.2%); 6-month term structure in tightening backwardation
  • Brent volatility at 27.5, up 5.3% on the day (12-month range: 24.7 - 57.6)
  • Newcastle Coal (ICE Europe) currently at US$ 128.55 per tonne, up 0.7% on the day (YTD: +59.7%)
  • Natural Gas (Henry Hub) currently at US$ 3.59 per MMBtu, up 3.5% on the day (YTD: +42.5%)
  • Gasoline (NYMEX) currently at US$ 2.22 per gallon, down -2.1% on the day (YTD: +57.4%); 6-month term structure in tightening backwardation
  • Low Sulphur Gasoil (ICE Europe) currently at US$ 599.50 per tonne, down -1.1% on the day (YTD: +42.5%)
GSCI energy today | Sources: ϕpost, Refinitiv dataCrude Oil 1M ATM Implied Volatilities | Sources: ϕpost, Refinitiv data

BASE METALS

  • Copper (COMEX) currently at US$ 4.28 per pound, down -0.5% on the day (YTD: +21.7%)
  • Iron Ore (Dalian Commodity Exchange) currently at CNY 1,379.00 per tonne, up 2.5% on the day (YTD: +25.3%)
  • Aluminium (Shanghai) currently at CNY 18,870 per tonne, up 0.5% on the day (YTD: +20.5%)
  • Nickel (Shanghai) currently at CNY 135,680 per tonne, up 0.1% on the day (YTD: +11.3%)
  • Lead (Shanghai) currently at CNY 15,330 per tonne, down -0.8% on the day (YTD: +4.6%)
  • Rebar (Shanghai) currently at CNY 4,989 per tonne, down 0.0% on the day (YTD: +16.3%)
  • Tin (Shanghai) currently at CNY 213,340 per tonne, up 0.4% on the day (YTD: +41.2%)
  • Zinc (Shanghai) currently at CNY 21,815 per tonne, down -0.3% on the day (YTD: +4.6%)
  • Refined Cobalt (Shanghai) spot price currently at CNY 348,000 per tonne, up 0.4% on the day (YTD: +27.0%)
  • Lithium (Shanghai) spot price currently at CNY 620,000 per tonne, unchanged (YTD: +27.8%)
Base metals today | Sources: ϕpost, Refinitiv dataBase metals 1M ATM IVs | Sources: ϕpost, Refinitiv data

PRECIOUS METALS

  • Gold spot currently at US$ 1,777.17 per troy ounce, down -0.2% on the day (YTD: -6.3%)
  • Gold 1-Month ATM implied volatility currently at 12.42, up 0.2% on the day (YTD: -21.3%)
  • Silver spot currently at US$ 26.07 per troy ounce, unchanged on the day (YTD: -1.1%)
  • Silver 1-Month ATM implied volatility currently at 22.11, down -3.8% on the day (YTD: -46.0%)
  • Palladium spot currently at US$ 2,686.36 per troy ounce, up 1.8% on the day (YTD: +9.8%)
  • Platinum spot currently at US$ 1,092.24 per troy ounce, down -1.7% on the day (YTD: +2.2%)
  • Rhodium (Johnson Matthey, New York 09:30) currently at US$ 19,500 per troy ounce, up 1.3% on the day (YTD: +14.4%)
  • Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,900 per troy ounce, unchanged (YTD: +126.9%)
GSCI Precious Metals Today | Sources: ϕpost, Refinitiv dataPrecious metals 1 month atm implieds | Sources: ϕpost, Refinitiv data

AGRO

  • Live Cattle (CME) currently at US$ 122.10 cents per pound, down 0.6% on the day (YTD: +8.1%)
  • Lean Hogs (CME) currently at US$ 104.95 cents per pound, up 2.9% on the day (YTD: +49.3%)
  • Rough Rice (CBOT) currently at US$ 13.16 cents per hundredweight, up 0.0% on the day (YTD: +6.1%)
  • Soybeans Composite (CBOT) currently at US$ 1,357.00 cents per bushel, up 2.0% on the day (YTD: +3.2%)
  • Corn (CBOT) currently at US$ 675.50 cents per bushel, up 6.1% on the day (YTD: +39.6%)
  • Wheat Composite (CBOT) currently at US$ 646.00 cents per bushel, up 1.4% on the day (YTD: +0.9%)
  • Sugar No.11 (ICE US) currently at US$ 17.23 cents per pound, up 2.0% on the day (YTD: +11.2%)
  • Cotton No.2 (ICE US) currently at US$ 86.66 cents per pound, up 0.3% on the day (YTD: +10.9%)
  • Cocoa (ICE US) currently at US$ 2,351 per tonne, down 0.0% on the day (YTD: -9.7%)
  • Coffee Arabica (Colombia Excelso) currently at EUR 3,851 per tonne, up 2.4% on the day (YTD: +21.7%)
  • Random Length Lumber (CME) currently at US$ 800.00 per 1,000 board feet, up 2.7% on the day (YTD: -8.4%)
  • TSR 20 Rubber (Shanghai) currently at CNY 10,385 per tonne, down -0.3% on the day (YTD: +5.5%)
  • Soybean Oil Composite (CBOT) currently at US$ 62.31 cents per pound, up 4.4% on the day (YTD: +43.8%)
  • Crude Palm Oil (Bursa Malaysia) currently at MYR 3,700 per tonne, down -0.1% on the day (YTD: -4.9%)
GSCI Agriculture Today| Sources: ϕpost, Refinitiv dataAgros 1M ATM IVs | Sources: ϕpost, Refinitiv data

SHIPPING

  • Baltic Dry Index (Baltic Exchange) currently at 3,255, up 2.5% on the day (YTD: +138.3%)
  • Freightos China To North America West Coast Container Index currently at 6,969, unchanged (YTD: +66.0%)
  • Freightos North America West Coast To China Container Index currently at 933, unchanged (YTD: +80.2%)
  • Freightos North America East Coast To Europe Container Index currently at 591, unchanged (YTD: +62.9%)
  • Freightos Europe To North America East Coast Container Index currently at 5,668, unchanged (YTD: +203.3%)
  • Freightos China To North Europe Container Index currently at 10,921, up 0.5% on the day (YTD: +92.9%)
  • Freightos North Europe To China Container Index currently at 1,625, unchanged (YTD: +18.2%)
  • Freightos Europe To South America West Coast Container Index currently at 4,798, unchanged (YTD: +183.6%)
Freightos Indices | Sources: ϕpost, Refinitiv dataBaltic Dry Index | Sources: ϕpost, Refinitiv data

CARBON EMISSION ALLOWANCES (CO2)

  • EUA futures front month (European Energy Exchange) currently at EUR 55.50 per tonne, up 0.8% on the day (YTD: +69.6%)