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Daan Struyven, co-head of global commodities research at Goldman Sachs, explains the four main questions the Trump administration faces if it institutes a diesel export ban. He also discusses how a ban could negatively impact domestic gasoline prices and where he sees demand destruction in the global oil market. (Source: Bloomberg)
Copper held gains as traders weighed tightness in supply and signs of buying interest picking up in China.
Copper steadied after declining to near $14,000 a ton as fresh deliveries of stockpiles to exchange-tracked warehouses signaled an easing of a supply squeeze.
Anna Edwards, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Iron ore broke above $100 a ton for the first time in seven weeks as traders unwound bets that favored coking coal, adding to support from expectations for pre-holiday restocking in China and high freight costs.
A fresh flare up in tit-for-tat attacks between the US and Iran put the Strait of Hormuz back in focus as gas, oil and other commodity prices rallied this week. With negotiations between the two sides grinding to a halt and Europe nearing the end of summer, dwindling gas storage levels are threatening to intensify a global fight for supply. The Opening Trade spoke with guests about the outlook as governments and consumers face the prospect of higher prices heading into winter. (Source: Bloomberg)
Chicago wheat edged lower after the steepest drop in nearly three years even as prospects of a peace deal between Russia and Ukraine faded with continued fighting in the Black Sea region.