Commodities

Good Day Across The Commodities Complex, With A Lower Dollar Helping

Crude oil and gasoline rose today despite EIA data showing higher than expected refining capacity and inventories, as the White House softened its call on OPEC+ to increase supply

Published ET

Tin keeps rising on the Shanghai futures exchange, now up 60% year to date | Sources: ϕpost, Refinitiv data

Tin keeps rising on the Shanghai futures exchange, now up 60% year to date | Sources: ϕpost, Refinitiv data

Twitter iconFacebook iconLinkedIn iconemail iconWhatsApp icon

EIA WEEKLY DATA

  • Stock Levels, Total Crude Oil excluding SPR, Absolute change, Volume for W 06 Aug (EIA, United States) at -0.45 Mln, above consensus estimate of -1.27 Mln
  • Stock Levels, Total Distillate, Absolute change, Volume for W 06 Aug (EIA, United States) at 1.77 Mln, above consensus estimate of -0.47 Mln
  • Stock Levels, Gasoline, Absolute change, Volume for W 06 Aug (EIA, United States) at -1.40 Mln, above consensus estimate of -1.66 Mln
  • Production, Refinery Capacity Utilization, Absolute change, Volume for W 06 Aug (EIA, United States) at 0.50 %, above consensus estimate of 0.40 %

NOTABLE GAINERS TODAY

  • Bursa Malaysia Crude Palm Oil up 4.2% (YTD: 19.3%)
  • Coffee Robusta Vietnam Grade 1 Wet Pol Spot up 3.6% (YTD: 24.1%)
  • SHFE Stannum up 2.5% (YTD: 60.1%)
  • Platinum spot up 2.4% (YTD: -4.5%)
  • SHFE Bitumen Continuation Month 1 up 1.9% (YTD: 30.8%)
  • Zhengzhou Exchange Thermal Coal up 1.8% (YTD: 12.9%)
  • SGX Iron Ore 62% China CFR Swap Monthly up 1.7% (YTD: 8.2%)
  • ICE-US Cocoa up 1.7% (YTD: -3.6%)
  • SMM Lithium Metal Spot Price Daily up 1.6% (YTD: 32.0%)
  • NYMEX RBOB Gasoline up 1.5% (YTD: 63.5%)
  • DCE Coking Coal Continuation Month 1 up 1.4% (YTD: 47.4%)
  • Crude Oil WTI Cushing US FOB up 1.4% (YTD: 43.3%)

NOTABLE LOSERS TODAY

  • Gold/US Dollar 1 Month ATM Option IV down -5.3% (YTD: -14.8%)
  • SMM Rare Earth Terbium Metal Spot Price Daily down -5.2% (YTD: 19.5%)
  • CBoT Soybeans down -2.9% (YTD: 6.9%)
  • CBoT Soybean Oil down -2.9% (YTD: 46.6%)
  • DCE Iron Ore Continuation Month 1 down -2.7% (YTD: 2.3%)
  • SMM Rare Earth Terbium Oxide Spot Price Daily down -2.3% (YTD: 16.6%)
  • CME Random Length Lumber down -2.2% (YTD: -43.4%)
  • Freightos Baltic Europe To North America East Coast 40 Container Index down -2.1% (YTD: 256.2%)
  • Silver/US Dollar 1 Month ATM Option IV down -1.5% (YTD: -43.4%)
  • CBoT Soybean Meal down -1.4% (YTD: -18.2%)
GSCI Sub-Indices Today | Sources: ϕpost, FactSet dataGSCI Equal Weight Total Return Index | Sources: ϕpost, Refinitiv data

ENERGY MOSTLY UP TODAY

  • WTI crude front month currently at US$ 69.24 per barrel, up 1.4% (YTD: +42.7%); 6-month term structure in widening backwardation
  • Brent crude front month currently at US$ 71.45 per barrel, up 1.1% (YTD: +37.9%); 6-month term structure in tightening backwardation
  • Brent volatility at 31.1, down -4.4% (12-month range: 26.1 - 47.1)
  • Newcastle Coal (ICE Europe) currently at US$ 169.40 per tonne, up 1.4% (YTD: +110.4%)
  • Natural Gas (Henry Hub) currently at US$ 4.05 per MMBtu, down -0.7% (YTD: +59.9%)
  • Gasoline (NYMEX) currently at US$ 2.31 per gallon, up 1.5% (YTD: +63.5%); 6-month term structure in widening backwardation
  • Low Sulphur Gasoil (ICE Europe) currently at US$ 575.50 per tonne, down -0.7% (YTD: +36.8%)
GSCI Energy Today | Sources: ϕpost, FactSet dataBrent, WTI 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

BROAD RISE IN BASE METALS TODAY

  • Copper (COMEX) currently at US$ 4.36 per pound, up 0.3% (YTD: +24.2%)
  • Iron Ore (Dalian Commodity Exchange) currently at CNY 1,106.00 per tonne, down -2.7% (YTD: +2.3%)
  • Aluminum (Shanghai) currently at CNY 20,180 per tonne, up 1.3% (YTD: +28.3%)
  • Nickel (Shanghai) currently at CNY 141,120 per tonne, up 0.9% (YTD: +14.0%)
  • Lead (Shanghai) currently at CNY 15,440 per tonne, up 0.2% (YTD: +4.7%)
  • Rebar (Shanghai) currently at CNY 5,353 per tonne, up 0.8% (YTD: +26.8%)
  • Tin (Shanghai) currently at CNY 244,900 per tonne, up 2.5% (YTD: +60.1%)
  • Zinc (Shanghai) currently at CNY 22,690 per tonne, up 0.7% (YTD: +7.7%)
  • Refined Cobalt (Shanghai) spot price currently at CNY 364,500 per tonne, down -0.7% (YTD: +33.0%)
  • Lithium (Shanghai) spot price currently at CNY 640,000 per tonne, up 1.6% (YTD: +32.0%)
GSCI Base Metals Today | Sources: ϕpost, FactSet dataLME Base Metals 1-month ATM Implied Vols | Sources: ϕpost, Refinitiv data

PRECIOUS METALS ROSE TODAY

  • Gold spot currently at US$ 1,751.82 per troy ounce, up 1.3% (YTD: -7.7%)
  • Gold 1-Month ATM implied volatility currently at 13.42, down -5.3% (YTD: -14.8%)
  • Silver spot currently at US$ 23.50 per troy ounce, up 0.9% (YTD: -10.8%)
  • Silver 1-Month ATM implied volatility currently at 23.21, down -1.5% (YTD: -43.4%)
  • Palladium spot currently at US$ 2,633.83 per troy ounce, down -0.3% (YTD: +7.8%)
  • Platinum spot currently at US$ 1,019.40 per troy ounce, up 2.4% (YTD: -4.5%)
  • Rhodium (Johnson Matthey, New York 09:30) currently at US$ 19,000 per troy ounce, unchanged (YTD: +11.4%)
  • Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,300 per troy ounce, unchanged (YTD: +103.8%)
GSCI Precious Metals Today | Sources: ϕpost, FactSet dataGold. Silver 1-month ATM Implied Vols | Sources: ϕpost, Refinitiv data

AGS MIXED TODAY

  • Live Cattle (CME) currently at US$ 122.95 cents per pound, down 0.6% (YTD: +8.9%)
  • Lean Hogs (CME) currently at US$ 109.63 cents per pound, down 0.0% (YTD: +56.0%)
  • Rough Rice (CBOT) currently at US$ 13.41 cents per hundredweight, down -0.4% (YTD: +8.3%)
  • Soybeans Composite (CBOT) currently at US$ 1,411.50 cents per bushel, down -2.9% (YTD: +6.9%)
  • Corn (CBOT) currently at US$ 553.50 cents per bushel, up 1.3% (YTD: +14.9%)
  • Wheat Composite (CBOT) unchanged at US$ 725.50 cents per bushel (YTD: +13.5%)
  • Sugar No.11 (ICE US) currently at US$ 19.47 cents per pound, down -0.6% (YTD: +25.7%)
  • Cotton No.2 (ICE US) currently at US$ 91.64 cents per pound, down -1.2% (YTD: +17.3%)
  • Cocoa (ICE US) currently at US$ 2,509 per tonne, up 1.7% (YTD: -3.6%)
  • Coffee Arabica (Colombia Excelso) currently at EUR 4,371 per tonne, up 0.9% (YTD: +38.1%)
  • Random Length Lumber (CME) currently at US$ 493.90 per 1,000 board feet, down -2.2% (YTD: -43.4%)
  • TSR 20 Rubber (Shanghai) currently at CNY 10,900 per tonne, down -0.5% (YTD: +9.5%)
  • Soybean Oil Composite (CBOT) currently at US$ 63.53 cents per pound, down -2.9% (YTD: +46.6%)
  • Crude Palm Oil (Bursa Malaysia) currently at MYR 4,642 per tonne, up 4.2% (YTD: +19.3%)
GSCI Agriculture Today | Sources: ϕpost, FactSet dataAGs 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

SHIPPING TODAY

  • Baltic Dry Index (Baltic Exchange) currently at 3,375, up 0.1% (YTD: +147.1%)
  • Freightos China To North America West Coast Container Index currently at 15,809, unchanged (YTD: +276.4%)
  • Freightos North America West Coast To China Container Index currently at 993, unchanged (YTD: +91.8%)
  • Freightos North America East Coast To Europe Container Index currently at 547, unchanged (YTD: +50.7%)
  • Freightos Europe To North America East Coast Container Index currently at 6,658, down -2.1% (YTD: +256.2%)
  • Freightos China To North Europe Container Index currently at 14,141, unchanged (YTD: +149.7%)
  • Freightos North Europe To China Container Index currently at 1,544, unchanged (YTD: +12.3%)
  • Freightos Europe To South America West Coast Container Index currently at 5,255, unchanged (YTD: +210.6%)

Baltic Dry Index | Sources: phipost.com , Refinitiv data

CARBON EMISSION ALLOWANCES (CO2)

  • EUA futures front month (European Energy Exchange) currently at EUR 57.78 per tonne, up 0.6% (YTD: +76.6%)

CO2 Permits EUA Prices | Sources: phipost.com, Refinitiv data