API WEEKLY INVENTORIES REPORT

• Crude: -1.62M barrels
• Gasoline: -985K barrels
• Distillates: -245K barrels
• Cushing: -485K barrels

NOTABLE GAINERS TODAY

• ICE Europe Brent Crude up 3.3% (YTD: 37.2%)
• CBoT Soybeans up 3.3% (YTD: 1.7%)
• Palladium spot up 3.2% (YTD: 1.0%)
• CBoT Soybean Oil up 3.1% (YTD: 41.0%)
• NYMEX NY Harbor ULSD up 3.1% (YTD: 40.0%)
• NYMEX Light Sweet Crude Oil (WTI) up 2.9% (YTD: 39.2%)
• NYMEX RBOB Gasoline up 2.7% (YTD: 54.8%)
• DCE Iron Ore Continuation Month 1 up 2.7% (YTD: -14.8%)
• ICE Europe Low Sulphur Gasoil up 2.7% (YTD: 38.9%)
• CBoT Soybean Meal up 2.4% (YTD: -18.3%)
• SGX Iron Ore 62% China CFR Swap Monthly up 2.4% (YTD: 1.3%)
• EEX European-Carbon- Secondary Trading up 2.4% (YTD: 76.6%)

NOTABLE LOSERS TODAY

• CME Random Length Lumber down -3.7% (YTD: -45.0%)
• NYMEX Henry Hub Natural Gas down -1.2% (YTD: 53.4%)
• Freightos Baltic China/East Asia To North Europe 40 Container Index down -1.1% (YTD: 144.7%)
• Platinum spot down -0.7% (YTD: -5.4%)
• CME Lean Hogs down -0.6% (YTD: 23.8%)
• CME Live Cattle down -0.5% (YTD: 11.4%)
• Bursa Malaysia Crude Palm Oil down -0.5% (YTD: 16.4%)
• Freightos Baltic Global Index down -0.3% (YTD: 205.5%)
• CBoT Wheat down -0.2% (YTD: 12.1%)
• Gold spot down -0.2% (YTD: -5.0%)
• CBoT Rough Rice down -0.1% (YTD: 7.9%)
• SHFE Zinc down -0.1% (YTD: 6.9%)

ENERGY UP EXCEPT NAT GAS TODAY

• WTI crude front month currently at US$ 67.37 per barrel, up 2.9% (YTD: +39.2%); 6-month term structure in widening backwardation
• Brent crude front month currently at US$ 70.93 per barrel, up 3.3% (YTD: +37.2%); 6-month term structure in widening backwardation
• Brent volatility at 30.4, down -6.7% (12-month range: 26.1 - 43.4)
• Newcastle Coal (ICE Europe) currently at US$ 170.00 per tonne, down 0.0% (YTD: +111.2%)
• Natural Gas (Henry Hub) currently at US$ 3.88 per MMBtu, down -1.2% (YTD: +53.4%)
• Gasoline (NYMEX) currently at US$ 2.18 per gallon, up 2.7% (YTD: +54.8%); 6-month term structure in widening backwardation
• Low Sulphur Gasoil (ICE Europe) currently at US$ 584.25 per tonne, up 2.7% (YTD: +38.9%)

BROAD RISE IN BASE METALS TODAY

• Copper (COMEX) currently at US$ 4.26 per pound, up 0.5% (YTD: +21.1%)
• Iron Ore (Dalian Commodity Exchange) currently at CNY 936.50 per tonne, up 2.7% (YTD: -14.8%)
• Aluminium (Shanghai) currently at CNY 20,595 per tonne, up 0.6% (YTD: +30.0%)
• Nickel (Shanghai) currently at CNY 143,150 per tonne, up 1.2% (YTD: +14.9%)
• Lead (Shanghai) currently at CNY 15,465 per tonne, up 0.8% (YTD: +5.2%)
• Rebar (Shanghai) currently at CNY 5,171 per tonne, up 1.5% (YTD: +21.9%)
• Tin (Shanghai) currently at CNY 239,110 per tonne, up 1.3% (YTD: +56.6%)
• Zinc (Shanghai) currently at CNY 22,560 per tonne, down -0.1% (YTD: +6.9%)
• Refined Cobalt (Shanghai) spot price currently at CNY 362,500 per tonne, unchanged (YTD: +32.3%)
• Lithium (Shanghai) spot price currently at CNY 715,000 per tonne, unchanged (YTD: +45.4%)

PRECIOUS METALS GAIN TODAY

• Gold spot currently at US$ 1,797.06 per troy ounce, down -0.2% (YTD: -5.0%)
• Gold 1-Month ATM implied volatility currently at 13.03, down -0.6% (YTD: -16.3%)
• Silver spot currently at US$ 23.74 per troy ounce, up 1.0% (YTD: -9.6%)
• Silver 1-Month ATM implied volatility currently at 23.25, down -0.8% (YTD: -42.8%)
• Palladium spot currently at US$ 2,463.61 per troy ounce, up 3.2% (YTD: +1.0%)
• Platinum spot currently at US$ 1,007.39 per troy ounce, down -0.7% (YTD: -5.4%)
• Rhodium (Johnson Matthey, New York 09:30) currently at US$ 17,000 per troy ounce, unchanged (YTD: -0.3%)
• Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,200 per troy ounce, unchanged (YTD: +100.0%)

AGS MOSTLY UP TODAY

• Live Cattle (CME) currently at US$ 125.80 cents per pound, down 0.5% (YTD: +11.4%)
• Lean Hogs (CME) currently at US$ 86.98 cents per pound, down -0.6% (YTD: +23.8%)
• Rough Rice (CBOT) currently at US$ 13.38 cents per hundredweight, down -0.1% (YTD: +7.9%)
• Soybeans Composite (CBOT) currently at US$ 1,331.00 cents per bushel, up 3.3% (YTD: +1.7%)
• Corn (CBOT) currently at US$ 542.75 cents per bushel, up 1.2% (YTD: +12.5%)
• Wheat Composite (CBOT) currently at US$ 717.00 cents per bushel, down -0.2% (YTD: +12.1%)
• Sugar No.11 (ICE US) currently at US$ 19.58 cents per pound, down 0.0% (YTD: +26.4%)
• Cotton No.2 (ICE US) currently at US$ 95.94 cents per pound, up 1.3% (YTD: +22.6%)
• Cocoa (ICE US) currently at US$ 2,590 per tonne, up 0.6% (YTD: -0.5%)
• Coffee Arabica (Colombia Excelso) currently at EUR 4,352 per tonne, up 0.7% (YTD: +37.5%)
• Random Length Lumber (CME) currently at US$ 480.10 per 1,000 board feet, down -3.7% (YTD: -45.0%)
• TSR 20 Rubber (Shanghai) currently at CNY 11,060 per tonne, up 0.1% (YTD: +10.5%)
• Soybean Oil Composite (CBOT) currently at US$ 60.81 cents per pound, up 3.1% (YTD: +41.0%)
• Crude Palm Oil (Bursa Malaysia) currently at MYR 4,529 per tonne, down -0.5% (YTD: +16.4%)

SHIPPING TODAY

• Baltic Dry Index (Baltic Exchange) currently at 4,147, up 1.3% (YTD: +203.6%)
• Freightos China To North America West Coast Container Index currently at 18,425, unchanged (YTD: +338.7%)
• Freightos North America West Coast To China Container Index currently at 911, unchanged (YTD: +76.0%)
• Freightos North America East Coast To Europe Container Index currently at 463, unchanged (YTD: +27.6%)
• Freightos Europe To North America East Coast Container Index currently at 5,929, unchanged (YTD: +217.2%)
• Freightos China To North Europe Container Index currently at 13,858, down -1.1% (YTD: +144.7%)
• Freightos North Europe To China Container Index currently at 1,549, unchanged (YTD: +12.6%)
• Freightos Europe To South America West Coast Container Index currently at 5,361, unchanged (YTD: +216.9%)

CARBON EMISSION ALLOWANCES (CO2)

• EUA futures front month (European Energy Exchange) currently at EUR 56.64 per tonne, up 2.3% (YTD: +73.1%)